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17

Nordea Faces Client Mutiny in Sweden as Bank Moves Headquarters

By Tony Seruga

Independent broker estimates $628 million in mortgages lost
Sweden’s biggest banks say they can see influx from Nordea

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…

Nordea Faces Client Mutiny in Sweden as Bank Moves Headquarters

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