Locked content PKO BP gets approval for Nordea takeover

Poland’s biggest lender, PKO BP received the Financial Supervision Authority (KNF) approval to takeover Nordea Bank Polska. PKO said it expected the merger to be finalized at the beginning of October 2014 and full integration to be completed in H1 2015. The transaction is said to be worth PLN 2.83 b...

Locked content PKO BP profit up in Q2

Poland’s largest lender PKO BP recorded a consolidated net profit of PLN 855.6 million in the second quarter of 2014 compared to PLN 752.8 million a year earlier. Analysts polled by the Polish Press Agency had expected the profit to be PLN 846.3 million. The bank’s net interest income amounted to PL...

Locked content PKO BP to open non-life insurance company

Poland’s biggest lender, PKO BP has filed motion to Financial Supervision Authority to set up non-life insurance subsidiary. The bank hopes that its new company will be operational in Q2 2015 and will choose its strategic insurance partner no sooner than in 2015. PKO plans to focus on individual cus...