Polish Banking Giant PKO Puts Up $815M For Nordea Unit

Law360, New York (June 12, 2013, 3:48 PM EDT) -- Nordic banking giant Nordea Bank AB will send its Polish banking, life insurance and financing units to PKO Bank Polski SA in an $815 million deal meant to to help it reach financial targets while consolidating its business to core markets, Nordea said Wednesday.

After the deal is finalized, the Nordea unit will be part of PKO, Poland's biggest lender.

The sale comes a decade after Nordea dipped into Poland. Since then, the bank's Polish branch has swelled into a multifaceted operation. But in a changing...
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