Nordea Bank Polska was a name of

bank A bank is a financial institution that accepts Deposit account, 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 m ...

, part of

Nordea Nordea Bank Abp, commonly referred to as Nordea, is a Nordic financial services group operating in northern Europe with headquarters in Helsinki, Finland. The name is a blend of the words "Nordic" and "idea". The Nordic countries are considered ...

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It extends from the Baltic Sea in the north to the Sudetes and Carpathian Mountains in the south, bordered by Lithuania and Russia to the northeast, Belarus and Ukrai ...

- 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 network, global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a internetworking, network of networks ...

telephone A telephone, colloquially referred to as a phone, is a telecommunications device that enables 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 ...

, free-of-charge personalized

SMS Short Message 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 phones exchange short text messages, t ...

’s, WAP, 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

. On November 3rd, 2011 NBP president Włodzimierz Kiciński announced his resignation. From November 10, 2011 and until the merger with PKO, the position was held by Sławomir Żygowski, earlier VP of Corporate Banking. Nordea Bank Polska ceased to exist as an independent company in 2014 after a takeover and legal merger with

PKO BP Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna or PKO Bank Polski S.A. (), in short PKO BP or simply PKO, is a multinational banking and financial services company headquartered in Warsaw, Poland. It is one of the largest financial i ...

. Since 2010 Nordea is only represented in Poland by Nordea Bank AB SA Branch in Poland; established to serve the Nordic business units in the operations centres located in Lodz and Gdansk and the IT Division located in Gdynia, Gdansk and Warsaw. Nordea employs more than 6,000 employees in Poland but has no banking activities or customers in the Polish market.

Acquisition to PKO

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

PKO Bank Polski Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna or PKO Bank Polski S.A. (), in short PKO BP or simply PKO, is a multinational banking and financial services company headquartered in Warsaw, Poland. It is one of the largest financial i ...

. 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. PKO BP took ownership of the Nordea Bank Polska company on April 1st 2014 and the legal merger including full transfer of assets to PKO BP was completed on October 31, 2014. An operational merger on April 20, 2015 completed the takeover of NBP by PKO BP.

References

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