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Nordea says Nordic unit conversion plans on track

Nordea Bank AB (publ) will press ahead with plans to convert its Danish, Finnish and Norwegian units into branches and hopes to complete the process by early 2017.

The bank said Dec. 8 that it had received all necessary approvals to carry out the transaction in Finland, while discussions with authorities in Denmark and Norway "are ongoing and perceived as constructive." It received Swedish FSA approval for the plan in May.