Poland’s largest lender, PKO Bank Polski (PKO BP), has announced plans to establish a representative office in Lithuania, expanding its international footprint and strengthening support for Polish businesses abroad.

“Lithuania and Sweden will be the next countries where PKO Bank Polski will operate – this time through a representative office,” said Marek Radzikowski, the bank’s vice-president for operations and international banking, during a press conference in Frankfurt.

Radzikowski explained that the bank’s choice was based on a thorough analysis of both macro- and microeconomic indicators, as well as the activities of companies already present in those markets. “Polish businesses are expanding abroad, and we want to support them. This is a financially viable business initiative,” he added.

PKO BP’s current strategy envisions the opening of eight new overseas units by 2027 — four full branches and four representative offices. Specific steps in this expansion plan will be unveiled at the turn of 2025 and 2026.

Lithuanian officials have welcomed the move. Economy and Innovation Minister Lukas Savickas wrote on social media that PKO BP’s arrival means “more competition, new opportunities, and greater confidence in our economy. Lithuania is strengthening as a regional centre for finance and innovation.”

Gediminas Šimkus, chairman of the Bank of Lithuania, told BNS that the decision reflects years of consistent work by national authorities to attract international players to the country’s financial sector. “We expect that, in the longer term, this decision will boost competition in the banking sector and benefit consumers,” Šimkus said.

PKO BP already has operations in Germany, the Czech Republic, Slovakia, and Romania. Its move follows last year’s opening of a representative office in Vilnius by Germany’s Commerzbank. Lithuanian officials have long hinted that new foreign banks were preparing to enter the market, and PKO BP’s expansion confirms those expectations.

Under EU rules, banks from member states do not require a separate licence to operate in Lithuania, allowing foreign banks to finance local companies and participate in the domestic market with relative ease.

With this latest step, PKO BP reinforces its ambition to become a major regional banking player while providing additional services to both Lithuanian and Polish businesses.