The Ukrainian daily newspaper Ekonomiczeskie Izvestia is reporting that the Polish-based bank PKO BP is considering selling its Ukrainian arm, Kredobank.

The newspaper did not disclose the source of its information but said only that the Polish bank is hoping to withdraw from its eastern neighbor.

Other international companies are also planning on exiting the country, including the Austrian Volksbank and Czech financial group PPF.

However, PKO BP counters the newspaper report, saying that it has no such plans.

Poland AM