Customers flee the big bank

 

These are grim times for the Swedish major bank . The large banking group has now taken seriously its threat to leave Sweden, within a few years the move is expected to take place and it to neighboring Finland. How do Swedish customers really react?

Small number of employees will be affected by the move

Small number of employees will be affected by the move

One of the biggest news in the economy at the moment is the Swedish bank  drastic decision to relocate to Helsinki and Finland. What is the reason why the bank decided to relocate and how do the Swedish loan customers actually react?

In a press release, Nordea recently announced that the head office will move to Finland. All operations in the Nordic region will remain the same for all customers and in the day-to-day operations of the banks. Only a small number of employees will be affected by the move.

Customer escape in the wake of the message

Customer escape in the wake of the message

President has previously emphasized that he does not believe that customers will leave the bank in large numbers. He also believes that the move has been an easy decision to make and that because it is a strategic step towards lower fees and larger profits for the bank.

Number of customers who have chosen to move their mortgages

Number of customers who have chosen to move their mortgages

However, the reactions did not wait. Trade associations, for example, have already announced that they will immediately close all their transactions with the bank and move investments of half a billion USD and review the other collaborations. The union council came up with similar reactions from its union board. Not only are unions with members moving, there are also a large number of customers who have chosen to move their mortgages from the big bank. Already, customers with joint mortgage loans in excess of USD 1.1 billion have applied to move  to other banks.