On June 12, 2013, Nordea Bank Polska was sold to
PKO Bank Polski. 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 1, 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. ==See also==