Nordea to change its accounting policy for resolution fees
To adapt to Finnish accounting requirements and to align with international peers, Nordea will as of Q1 2019 and onwards expense the resolution fees up front in the first quarter of each year and will for accounting purposes present such fees under “Other expenses” in its financial reporting.The Nordea Group’s policy has been to amortise resolution fees linearly over the year and to present these as “Net interest income” in line with other Swedish peers. Due to the re-domiciliation of Nordea from Sweden to Finland on 1 October 2018, Nordea will now in accordance with Finnish requirements