The most prominent example is Nordea, which has significant market shares in each of the Nordic countries (except Iceland) – in Denmark's case almost a quarter of all deposits. EU legislation has contributed to harmonising the basis for conducting activities in the financial sector and removed barriers to cross-border operations.
This is part of the process to create a single financial market in the EU. Nordea currently operates with a subsidiary structure, so that the national authorities are still responsible for supervision and oversight of its activities in each country. For Nordea Danmark, this responsibility lies with the Danish Financial Supervisory Authority.