Nordea simplifies its legal structure

Nordea has taken steps towards simplifying its legal structure. The parent company, Nordea AB, has been granted a bank charter and has changed its name to Nordea Bank AB as of 30 January 2004. The next step will be for Nordea Bank Sweden to be merged into Nordea Bank. It is part of a process aimed at creating one European company. The Swedish Financial Supervisory Authority has approved the merger which is expected to take effect on 1 March 2004, when the Swedish Patent and Registration Office registers the merger approval. The process of simplifying Nordea's legal structure began in June 2003 with a decision by the Board of Directors of Nordea AB. At the Extraordinary General Meeting held in October 2003 the shareholders of Nordea AB decided to make the necessary amendments to the Articles of Association of the company, and thus to change the name to Nordea Bank AB.

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