Nordea to save more than expected in Finland move

Finland and euros fotolia 230 x 150
By Tyler Davies
14 Dec 2017

Nordea said on Thursday that it was expecting to save more than it had initially expected by re-domiciling in Finland, owing to lower costs from a series of consent solicitations and lower payments into resolution and deposit guarantee schemes.

Nordea calculated that the net present value (NPV) of savings from moving to Finland would be €1.1bn-€1.3bn.

This figure was slightly higher than the bank’s original estimates of €1bn-€1.1bn.

Nordea is planning to move its administrative headquarters from Sweden to Finland, bringing itself into the European Banking ...

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