February 16, 2018 / 1:07 PM / 8 months ago

BRIEF-Nordea lowers cost-saving estimates relating to re-domiciliation

Feb 16 (Reuters) - Nordea Bank Ab:

* NORDEA PUBLISHES A PROSPECTUS REGARDING THE MOVE INTO THE BANKING UNION AND THE MERGER OF NORDEA BANK AB INTO NORDEA HOLDING ABP

* NORDEA SAYS ‍NORDEA EXPECTS NET PRESENT VALUE (NPV) OF TOTAL SAVINGS RELATED TO RESOLUTION FEES, DEPOSIT GUARANTEES AND OTHER TRANSITIONAL EFFECTS DUE TO RE-DOMICILIATION TO BANKING UNION TO BE APPROXIMATELY EUR 0.9-1.2BN​

* NORDEA SAYS ‍THIS ESTIMATE HAS SLIGHTLY SHIFTED BASED ON CURRENT FINANCIAL INFORMATION FROM EXPECTED RANGE OF NPV OF EUR 1.1-1.3BN THAT WAS COMMUNICATED BY NORDEA ON 14 DECEMBER 2017​

* NORDEA SAYS ‍DIFFERENCE IS PRIMARILY ATTRIBUTABLE TO REFINED CALCULATIONS RELATING TO BANK’S BALANCE SHEET AFTER DEDUCTIONS, LOWERING EXPECTED POSITIVE NPV IMPACT OF RESOLUTION FEES AND INTEREST RATE DEDUCTIBILITY ON SUB-DEBT EXPENSES​ Source text for Eikon: Further company coverage: (Reporting By Johan Ahlander)

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