Nordea planning on quick profits

Alan Heath
02-03-2001, 00:00

Nordea planning on quick profits

The Scandinavian group Nordea is hoping to make some quick profits in Poland. The group claims that its success in this market has been down to its ability to link banking and insurance in one place and to develop internet sales. This, they say, has allowed growth whilst keeping costs down. Its insurance company Energo-Asekuracja is expecting to report PLN3m profits this years whilst Heros-Life which had been run down under its former owner Kredyt Bank should be in the black in two or three years. Kazimierz Ortyński, MD of Energo-Asekuracja, is hoping to collect premiums of around PLN300m this year and a doubling of profits which last year were PLN1.4m.

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