In order to meet its financial targets and according to its strategy to concentrate on markets where it can deliver a superior customer experience and significant scale benefits based on a leading market position, Nordea has decided to divest its Polish banking, financing and life insurance operations, including Nordea Bank Polska S.A., Nordea Finance Polska S.A. and Nordea Polska Towarzystwo Ubezpieczen na Zycie S.A., to PKO Bank Polski for EUR 694m[1].
- We have built a strong business in Poland over the last ten years. The divestment is a rational structural change for all parties involved. It will contribute positively to Nordea’s long-term financial goals and enable us to continue to develop business and services. At the same time our customers and employees in Poland will become part of a leading Polish bank, says President and Group CEO of Nordea Christian Clausen.

The transaction is expected to lead to a minor capital gain and profit and loss effect. In addition, it has...