Nordea, the largest financial group in Northern Europe, confirmed yesterday in its general meeting that it will re-locate its headquarters from Stockholm, Sweden, to Helsinki, Finland.
“Welcome to Finland, Nordea,” tweeted Petteri Orpo (NCP), the Minister of Finance. “The general meeting has decided to move the domicile to Finland. A good decision. As a member of the banking union, we are an excellent domicile for a large bank.”
Orpo estimated that the re-location will have a significant impact on the national economy of Finland. The decision, he added, is also evidence of how attractive an operating environment the country is for large corporations.
“We want more headquarters to move to Finland, because they generate value for our national economy. Finland provides a stable operating environment where everything works in an agile way. This government won’t raise the corporate tax or the fees of banks. That would not be in anyone’s best interests,” he stated.
Nordea is currently valued at 38.7 billion euros.
Orpo described the financial group as a solvent bank with large buffers to absorb losses and bail-ins. The stability, he estimated, will only be increased by the 55-billion-euro common fiscal backstop to be established within the European Union by 2023 and by the banking union advocated by Finland.
Aleksi Teivainen – HT
Photo: Antti Aimo-Koivisto – Lehtikuva
Source: Uusi Suomi