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PKO BP interested in foreign takeovers

30th January 2014
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The appetite of Poland's biggest bank is growing


PKO BP, Poland’s largest lender by assets, is interested in buying banks outside Poland after it completes the takeover of the Polish branches of Nordea Bank, according to a management board member cited by The Wall Street Journal.

“At the moment we’re not interested in buying a bank in Poland,” Jakub Papierski said, adding, however, that “This doesn’t mean we will not be seeking attractive acquisitions abroad.”

PKO BP isn’t only eying rival lenders, it also wants its brokerage to expand in the CEE region.

Currently, PKO BP remains focused on completing the merger with Nordea’s Polish operations it agreed to buy last year for PLN 2.83 billion, Papierski added.

Poland’s Financial Supervision Authority, which has not yet approved the takeover of Nordea by PKO BP, has expressed concern last year with the high level of consolidation in the country’s banking sector.

Poland A.M.

From Warsaw Business Journal

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