Nordea’s board of directors has decided that the bank’s head office will be relocated to Helsinki. According to CEO Casper von Koskull, the fact that in Finland Nordea will become a member of the European Banking Union and enter ECB supervision was a major factor in the decision, as it provides the bank with a fair and predictable operational environment. With Nordea included the Finnish banking sector will double its size, which will bring more work to the Financial Supervisory Authority and increase supervision fees. The move will not bring significant changes to Finland’s tax revenue, but it will improve Finland’s image as a competitive country able to attract major companies.
Journalist: Antti Lehmusvirta