Nordea Faces Client Mutiny in Sweden as Bank Moves Headquarters
- Independent broker estimates $628 million in mortgages lost
- Sweden’s biggest banks say they can see influx from Nordea
The headquarters of Nordea Bank AB sit in Stockholm, Sweden.
Photographer: Casper Hedberg/BloombergThis article is for subscribers only.
Nordea Bank AB is losing clients in Sweden in what independent mortgage brokers say appears to be a protest against the bank’s plan to redomicile to Finland in pursuit of a more accommodating regulatory environment.
The customer shift has been registered by two online home-loan brokers and confirmed by other banks operating in Sweden. Nordea says flows in the country remain “at normal levels” and that the bank’s decision to move is “not a big issue” for most clients.