The Finnish socialist party (SDP) has announced it will stop using Swedish banking group Nordea’s services in the wake of the Panama Papers scandal.

In a tweet, party secretary Reijo Paananen said that the Socialist Party valued consistency more than the good services it was receiving from the bank.

The Panama leaks revealed that Nordea has established hundreds of companies for customers in tax havens.

Following the revelations on April 3, the leader of the Social Democratic Party Antti Rinne stated that the party could not be a Nordea customer any longer.

"For decades, Nordic countries have been fighting on behalf of the welfare state and against tax avoidance. Our social welfare grows when all contribute towards its development. Nordea should now look in the mirror. The SDP cannot be a customer of such a bank," Mr Rinne wrote on Facebook.

Meanwhile Nordea said on Tuesday it would end its association with law firm Mossack Fonseca at the centre of the scandal.

 

 

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.