Nordea Bank Polska posted stand-alone net profit of PLN 24.71mn in Q4 of 2014, down from PLN 59.54mn a year earlier. In the entire 2013, the profit was PLN 63.45mn vs. PLN 144.34mn in 2012. Poland's biggest bank PKO BP, which is in the process of taking over Nordea's Polish assets, said the results are in line with its expectations. Its spokeswoman stressed that the result would be by PLN 100mn higher, if it was not for an additional write-off related to a portfolio of mortgage loans - an obligation related to the lender's agreement with PKO BP. At the end of 2013, Nordea Bank Polska's assets eased to PLN 32.85bn from PLN 33.32bn a year earlier. In June of 2013, PKO BP and Sweden's Nordea Bank concluded an agreement setting out the terms of an acquisition from Nordea Bank AB and other entities from the Nordea Group of 99.21% in Nordea Bank Polska , 100% in life insurer Nordea Polska TunZ and 100% in leasing company Nordea Finance Polska. The total price for the three companies is PLN 2,830mn ( EUR 664mn ). The deal will be financed from PKO BP's own capitals.Then, PKO BP announced the first public tender for Nordea's shares, but since it failed to receive a decision issued by the Polish Financial Supervision Authority (KNF) confirming that there is no objection to the acquisition by PKO BP the shares in a number resulting in exceeding a 50% stake in Nordea Bank Polska , it then (in December) announced the second tender. Subscriptions will be held on Dec 23 of 2013 - Feb 25 of 2014. PKO BP said it might put off these dates, but by no more than 120 days.
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