PKO Bank Plans Foreign Expansion as Polish Companies Go Global

Poland’s largest lender PKO Bank Polski SA plans to double its European branch network to keep up with local companies expanding beyond their home market.

The state-controlled bank is targeting eight foreign branches by the end of next year, up from four currently, Chief Executive Officer Szymon Midera said in an interview. Buoyed by 20% annual growth in corporate lending abroad —— double the pace seen on its domestic portfolio, PKO is also open to “opportunistic” acquisitions to accelerate its international reach.