LG Petro Bank is likely to find itself in the hands of a new owner. It is believed that the Scandinavian Nordea could be interested but one of its current owners says that it no longer wants to be involved. PKN Orlen says that it wants to concentrate on its core business and therefore could use the money raised from the sale of 18.7 percent stake for investment in fuels. Furthermore two of the board members of the bank, Andrzej Modrzejewski and Jaroslaw Tyc have been removed. Both of them are no longer working for PKN Orlen and therefore will be replaced by other Orlen representatives.
Analysts believe that the bank could receive fresh capital this year. The bank would like to get a ten to 15 percent market share by 2005 but without a merger this is considered to be unlikely.