Nordea Wins ‘No New Rules’ Pledge as Bank’s HQ Saga Heats Up
- Finland has working group trying to entice Nordea to Helsinki
- Danish minister says Nordea talks are at ‘multiple levels’
The headquarters of Nordea Bank AB sit in Stockholm, Sweden, on Monday, Feb. 9, 2009. Nordea Bank AB, the biggest Nordic lender by market value, plans to raise 3 billion euros ($3.9 billion) through a rights offer and by cutting its dividend after fourth-quarter profit fell.
This article is for subscribers only.
With assets that dwarf the economies it operates in, Nordea Bank AB has become the focus of regulatory brinkmanship rarely seen in its home markets.
The largest Nordic bank is being offered the prospect of no new rules if it moves its headquarters to Copenhagen from Stockholm. In Helsinki, the authorities say Nordea can expect a much more stable regulatory environment than the one it currently operates under in Sweden.