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Finland working to get Nordea HQ to Helsinki – finance minister
April 29, 2017 / 8:32 AM / 7 months ago

Finland working to get Nordea HQ to Helsinki – finance minister

HELSINKI, April 29 (Reuters) - The Finnish government is working with the country’s central bank to convince the Nordic bank Nordea to move its headquarters to Helsinki from Stockholm, Finland’s Finance Minister Petteri Orpo said on Saturday.

Nordea, the Nordic region’s biggest bank by market value, is looking into moving its headquarters from Sweden to Denmark or Finland if the Swedish government raises fees for the country’s bank rescue fund.

“Finland would be an excellent base for Nordea. The government aims for all our policies to be be predictable and reliable”, Orpo said in a television interview with Finnish broadcaster YLE.

The Swedish government proposed raising fees for its resolution fund - used to bail out failing banks - in February after a plan for a banking tax fell through. It would hit Nordea harder than other Swedish banks as it has brought its Nordic subsidiaries into its Swedish corporate structure.

The Danish government has already offered Nordea a home in Copenhagen, but Orpo said that as a member of the euro zone and EU’s banking union, Finland could offer a more stable environment for the bank than Denmark, which is not a member of the currency bloc.

“If anything unfortunate happened, these things can be handled differently within the banking union”, Orpo said. (Reporting by Tuomas Forsell; Editing by Toby Chopra)

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