October 1, 2018 / 7:24 AM / in 20 days

Nordea CEO sees room for "tactical" M&A moves in the Nordics

HELSINKI, Oct 1 (Reuters) - Nordea, the Nordic region’s biggest bank, will be focused on improving and expanding its IT systems in the near term but might still make “tactical” M&A moves in the region, it’s CEO Casper von Koskull said on Monday.

“The focus is to become a true digital bank ... but that might of course include tactical moves,” von Koskull told Reuters, pointing to Nordea’s recent plan to buy Norwegian Gjensidige Bank ASA for about $673 million.

Nordea moved its headquarters from Sweden to Finland on Monday to cut the costs of complying with Swedish regulations and to fall under the supervision of the European Central Bank (ECB). (Reporting by Jussi Rosendahl and Anne Kauranen; editing by Niklas Pollard)

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