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Report: Poland's 2nd-largest bank working on UK expansion

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Report: Poland's 2nd-largest bank working on UK expansion

Bank Pekao SA is working on a plan to expand to the U.K., the Financial Times reported March 10.

The goal is to internationalize Poland's second-largest bank and the U.K. expansion is one option to serve its corporate and private clients abroad, according to the report.

The FT noted that 10 to 15 people are working on the plans, which could include a representative office in London and eventually a digital bank.

Since Poland joined the EU in May 2004 about 1 million Polish nationals have settled in the U.K., of whom about 30,000 have their own companies, the FT said.