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Nordea could move headquarters out of Sweden -newspaper
March 14, 2017 / 8:31 AM / 9 months ago

Nordea could move headquarters out of Sweden -newspaper

STOCKHOLM, March 14 (Reuters) - Nordea could move its headquarters from Sweden if the government adopts a proposal to raise the fees lenders pay to the country’s resolution fund, the bank’s chief executive told business daily Dagens Industri (DI) on Tuesday.

The government last month said it had abandoned a proposal for a payroll tax for financial services, commonly known as a bank tax.

Instead it said it would raise the fee banks pay to the resolution fund - money that is available to bail out failing banks.

CEO Casper von Koskull said the bank - the Nordic region’s biggest - had told the Swedish government it was considering a relocation of its headquarters.

“The resolution fee makes it impossible for us to say we have the same rules in Sweden as in the rest of Europe. Of course we need to consider and examine the alternatives,” he told DI.

The government has long sought to impose a financial services tax, saying the sector - which is exempt from value-added tax - is doing well and should pay more to the state.

Reporting by Helena Soderpalm; editing by Jason Neely

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