Nordea chairman says merger with ABN Amro would create 'fine bank'

A merger between Sweden's Nordea and Dutch state-owned lender ABN Amro would make "a pretty fine bank," and early talks may continue after a March 2017 election in the Netherlands, Nordea chairman Bjorn Wahlroos said on Saturday. In an interview with Finnish public broadcaster YLE, Wahlroos confirmed he had recently discussed a possible merger with representatives from the Dutch finance ministry and the Netherlands Financial Investments (NLFI), the state agency that holds a majority of ABN shares.
"It was a very preliminary contact ... at the moment it looks like (talks) will not go forward until the Dutch parliamentary election," Wahlroos said, referring to a March 2017 general election. "I believe it is quite clear that due to the elections, there is not much enthusiasm right now for a larger project in the government level," he added. Following local media reports on Nordea's approach earlier this month, ABN and the Dutch government said they were not looking for a buyer.