Banking Union Only Way to Get Level Playing Field, Says Nordea Bank CEO

The transcript discusses the concerns of Danish banks about joining the banking union, focusing on the potential burden of supporting struggling banks in southern Europe. Nordea, the largest bank in the Nordic region, emphasizes the importance of being part of the banking union to ensure competitive conditions. The bank's strategy is centered on digital transformation rather than size. Nordea is not currently focused on mergers and acquisitions or consolidation but is committed to completing its digital transformation. The discussion also highlights the need for risk reduction in the banking sector, particularly in the context of Italian banks and the banking union's progress.

What concerns do Danish banks have about joining the banking union?

How does the speaker view the relationship between size and competitiveness in banking?

What is the significance of being able to compete on a level playing field for Nordic banks?

What is the current focus of Nordea's strategy as mentioned in the text?

What steps are necessary for risk reduction in the banking sector according to the text?