Sources: Poland's biggest bank offers to buy Luminor

PKO BP (Powszechna Kasa Oszczędności Bank Polski) logo.
PKO BP (Powszechna Kasa Oszczędności Bank Polski) logo. Source: (Reuters/Scanpix)

PKO BP, Poland's largest bank, has offered to purchase Luminor, the bank formed in a merger of Nordea and DNB's Baltic operations which launched operations in October, two sources told Reuters.

One of the sources noted that the offer by PKO BP (Powszechna Kasa Oszczędności Bank Polski) was rejected, but Poland's largest bank is nonetheless interested in entering the Baltic market, Reuters reported.

PKO, Nordea and DNB all declined to comment on the matter.

With approximately €78 billion in assets, PKO BP is considered Central and Eastern Europe's largest bank. In 2014, PKO purchased Nordea's Polish business for 2.8 million zloty, or approximately €661 million.

Editor: Aili Vahtla

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