The second-largest bank in Denmark, Nordea, has decided to vacate its headquarters in Sweden and move to Finland.
At a meeting on Wednesday, the board of directors of the bank announced the commencement of the process.
Nordea is dissatisfied with a planned tax on the financial sector that the Swedish government is planning to impose in order to better protect the state’s finances against a future financial crash.
Denmark had also been in the running as a potential destination for the headquarters, but in the end it lost out to Finland.
The bank also stated that customers will not notice any change in day-to-day services as a result of the move.