Nordea incurs merger costs but predicts profits to come

Furthermore, he promised that the merger will result in profits of zł.27 million this year and next, as compared to last year's profits of zł.12.7 million. While 2003 saw Nordea focus on cost-cutting, this year the bank seeks to expand its activities and within 2-3 years hopes to service 50% of all Scandinavian companies operating in Poland, with the company viewing expansion as equating to better financial results. Despite the merger, Nordea does not intend to withdraw LG's stock from the Warsaw Stock Exchange and might even consider floating its own stock in the long-term. (Puls Biznesu, p. 8) J.J.