ECB's Liikanen criticises Nordea's restructuring plan

October 21, 2015 6:55 AM

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HELSINKI Oct 21 European Central Bank council member, Bank of Finland Governor Erkki Liikanen has criticised the plan by Nordea, the Nordic region's biggest lender, to change its Finnish subsidiary bank into a branch.

Nordea, which is based in Sweden, in July announced a plan to simplify its legal structure and change all its Nordic subsidiary banks into branches. Finland is the only Nordic country that is a member of the euro.

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