WARSAW Feb 26 Nordea has hired Bank of
America Merrill Lynch to advise it on the sale of Nordea
Bank Polska, a Polish local newspaper reported on
Tuesday, citing unnamed sources close to the deal.
Dziennik Gazeta Prawna said Bank of America has sent
invitations to Poland's top lender, PKO BP, Unicredit's
Polish unit Bank Pekao, and BNP Paribas
The daily also said that PKO has hired Barclays
as an adviser.
"We can't comment on speculation or rumours," Erik Durhan,
Nordea spokesman told Reuters. PKO BP was unavailable for
comment, but the bank said last week it was considering buying a
Nordea Bank Polska has a market capitalisation of $426
million. Its share fell around 30 percent last year.
It is the country's twelth largest lender by assets, with
720,000 customers, 6.7 billion euros in lending and 1,900
The slowdown in Poland, the largest central European
economy, has hit demand for loans at Nordea's Polish unit, with
strong competition and interest rate cuts eating away margins,
Nordea said in its fourth quarter report.