PKO BP lender to open rep offices in Lithuania and Sweden, targeting 8 new locations by 2027

"We are already at a very advanced stage of analysis. We have selected two locations where we want to establish a presence in the coming months. These are Lithuania and Sweden," PKO BP's deputy CEO Marek Radzikowski told a conference.

Asked about the reasons for selecting these locations, the deputy CEO said internal analyses considered macro- and microeconomic factors, business presence, economic growth, trade, investment, and local economic structure.

Radzikowski stated that no decisions have yet been made regarding which markets PKO BP will enter in the next phase.

"We will be able to reveal the next location at the turn of 2025 and 2026. We have decided that in four cases these will be representative offices, and in another four branches," PKO BP's deputy CEO said.

"The intermediate form of a representative office will allow us to better understand the situation, track the opportunities in a given country, and eventually decide whether we want to transform such a representative office into a branch. Thanks to the representative office format, we can do this very quickly, while setting up a branch takes more time," he added.

Over the past 10 years, PKO BP have opened 4 branches; now by 2027, it wants to open as many as 8 new locations, in line with the strategy.

"This is an extremely ambitious plan because the low-hanging fruits have already been picked — markets such as Germany and the Czech Republic were natural for us and have already been developed. That does not mean that somewhat more distant markets are not justified from a business perspective," said Radzikowski.

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