ECB fines Nordea €2.26 million over credit risk reporting

The European Central Bank has imposed a financial penalty of €2.26 million on Nordea after its Finnish subsidiary incorrectly reported credit risk exposures for several years, breaching European Union banking regulations. The sanction concerns Nordea Finance Finland, a financing company owned by the Nordic banking group. According to the ECB, the subsidiary reported guaranteed receivables incorrectly between 2021 and 2024.