Nordea joins the eurozone
The eighth largest bank in Europe moved its headquarters from Sweden to Finland, with which it enters the eurozone and the European Banking Union
The financial entity whose value is around 36,000 million euros dissolved the Swedish parent company, based in Stockholm and transferred all its assets and liabilities to Nordea Bank Abp, located in Helsinki.
The operation is due to the decision of the Government of Sweden, which does not belong to the eurozone, to force the entities to increase their contribution to a state fund that acts in cases of banking crises.
With this procedure Nordea becomes the largest company in Finland, displacing Nokia. Its assets reach 580,000 million euros, equivalent to 2.5 times the gross domestic product (GDP) of Finland.
The banking giant has more than 10.7 million customers, 30,000 employees, 600 branches in various countries such as Denmark, Sweden, Norway, Estonia, Latvia, Lithuania, Russia and now Finland. In 2017, it obtained revenues of 9,469 million euros.
For his part, the CEO of the group, Casper von Koshull, said in a statement: “Our entry into the Banking Union is an important strategic step in our transformation, ensuring a fair, stable and predictable regulatory environment, in equality with our European competitors.”
L.Sáenz
Source: Banca & Negocios
Receive this and all our information directly on your cell phone through our channel on Telegram:https://t.me/
