HELSINKI: The Supreme Court has granted certain customers of Nordea bank leave to appeal for an increase on loan interest rate margins. The matter in question is whether the bank in 2009 had the right to increase margins for loans to local governments and local government sector corporations and foundations. The District Court and Appellate Court judged that the raising of the margins had been justified.
Among those who have been granted the right to appeal are the City of Jyväskylä, the Tampere Tenement Foundation, the Eastern Uusimaa Waste Management and the Municipality of Inari. A total of 25 different agencies filed for appeal, all of whom were granted leave to appeal. At the end of February, the Supreme Court issued a decision which ruled that Svenska Handelsbanken could not raise interest rate margins on loans with a unilateral declaration.
