Nordea Bank Polska was a name of

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

, part of

Nordea Nordea Bank Abp, commonly referred to as Nordea, is a European financial services group operating in northern Europe and based in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The bank is the result of the successive m ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populous ...

- the largest Scandinavian financial group. Nordea Bank Polska was established first as "Bank Komunalny" in 1992, the Nordea Group became a strategic investor in 1999. By the end of 2001, Bank Komunalny was fully consolidated into Nordea. It had identified itself as a modern

offering banking services via the

Internet The Internet (or internet) is the global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a '' network of networks'' that consists of private, pub ...

telephone A telephone is a telecommunications device that permits two or more users to conduct a conversation when they are too far apart to be easily heard directly. A telephone converts sound, typically and most efficiently the human voice, into e ...

, free-of-charge personalized

SMS Short Message/Messaging Service, commonly abbreviated as SMS, is a text messaging service component of most telephone, Internet and mobile device systems. It uses standardized communication protocols that let mobile devices exchange short text ...

’s,

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, and a network of branches. Its electronic banking had been created on the basis of the Scandinavian Solo system, which processes banking operations executed via the

. Since 2010 Nordea is represented in Poland by Nordea Bank AB SA Branch in Poland; established to serve the Nordic business units in the operations centre located in Lodz and the IT Division located in Gdynia, Gdansk and Warsaw. Nordea employs more than 4,500 employees in Poland.

Acquisition to PKO

On Jun 12, 2013, Nordea Bank Polska was sold to

PKO Bank Polski Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (also known as ''PKO Bank Polski S.A.'', ''PKO BP S.A.'') is Poland's largest bank founded in 1919. It provides services to individual and business clients. The core business activity of ...

. Source cites reasons as "increased competition and lower revenue from lending after demand for goods and services fell" and "tougher rules, including the need to float 25 percent of the local subsidiary on the stock market". Later story added up on various sides of situation in banking of Poland: external causes to exit market by foreign banking conglomerates, internal pressure in Poland and PKO particular ambitions in area.

References

Banks of Poland Banks established in 2001 Companies listed on the Warsaw Stock Exchange 2001 establishments in Poland {{poland-company-stub