London & Warsaw -LAWFUEL – The Law Newswire – Allen & Overy LLP has advised PKO Bank Polski, Poland’s leading retail bank, on its cooperation with NatWest, a member of the Royal Bank of Scotland group, in the British market.
The cooperation agreement with NatWest is aimed at developing modern and customer-friendly products and financial services for Poles working or intending to take up jobs in Britain. It is also an extremely important element of the PKO new strategy implementation, envisaging, among other things, its expansion beyond the Polish borders.
The first effect of the cooperation between the two institutions will be a free money transfer service between the accounts in Poland and in the United Kingdom. From mid-October, PKO intends to offer mortgages for Poles working in the UK secured on property purchases in Poland.
The Allen & Overy team was led by London-based corporate partner Alistair Asher and CMT partner Colin Pearson, assisted by senior associate Kirralee Sanders, Warsaw-based banking senior associate Piotr Lesinski and trainee Matthew Hodgson.
Commenting Alistair Asher said: “This strategically interesting development in the international retail banking market will offer Polish customers of PKO and NatWest a truly unique service. We’re delighted to have advised PKO on both the Polish and English legal aspects of the transaction.”
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