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TEAM union leaves Nordea, taking banking business elsewhere

The Industrial Union TEAM has added itself to a growing list of organisations which have announced they have decided to leave Nordea Bank.

Satasen euroja.
File photo. Image: Jyrki Lyytikkä / Yle

The union's chair Heli Puura said TEAM is changing banks due to recent revelations in the Panama Papers data leak suggesting that Nordea helped its customers arrange tax shelters.

Nordea, a Nordic financial services institution based in Sweden, said that it had assisted customers shelter assets in the past, adding that it acted entirely within the law when it did. The bank also said that it has since ceased the practice.

TEAM has 50 thousand members, belongs to the Central Organisation of Finnish Trade Unions, SAK.

Other organisations like the Finnish Transport Workers Union, the Social Democrats, Left Alliance and True Finns parties have also announced they would leave Nordea.

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