REUTERS SUMMIT-Poland's biggest bank PKO says no new deals for now

* PKO CEO says wants to stabilise group after recent merger

* Does not expect PKO to take part in another deal in 2014

* Polish banks may have lower profits 2014 (Adds further details, CEO comments)

By Marcin Goclowski and Adrian Krajewski

WARSAW, Sept 24 (Reuters) - Poland's largest bank, state-controlled PKO BP, plans to use 2014 to consolidate its business after acquisitions this year, its chief executive said, signalling that for the time being the bank would not be buying any more rivals.

PKO agreed in June to buy Poland's No.10 lender, Nordea Bank (Other OTC: NRBAY - news) Polska, as well as the local life insurance and financing businesses from Swedish lender Nordea for 2.83 billion zlotys ($904 million), marking its first ever takeover.

Banking insiders say the market in Poland is ripe for more mergers and acquisitions, but PKO chief Zbigniew Jagiello, speaking at a Reuters Eastern Europe Investment Summit, said his bank's focus would be on absorbing the deals.

"Next year, I expect a similar transaction on the Polish market as our Nordea buy, and another one maybe in 2015," Jagiello said.

"We, however, want to focus next year on building a stable business, closing the Nordea merger, and we don't expect taking part in consolidation."

Jagiello said the Polish banking sector overall would struggle to achieve profit growth in 2014, though he predicted his bank would do better than the sector average.

"My forecast is that it would be very difficult for Polish banks to repeat the net profit level from 2013 next year," Jagiello said at the summit.

"PKO will perform better than the market thanks to the Nordea unit purchase," he said.

Poland's banking sector has had tough first-half this year, hit by record low interest rates and pressure on margins and fees. But analysts expect the sector to rebound along with the economy in the second half.

Poland's financial regulator said earlier this year that Polish banks should book a joint 2013 net profit around the last year's 15.5-billion zloty level.

PKO earned 3.75 billion zlotys last year. It expects its 2014 bottom line to come in lower, with analysts pegging the expected profit at 3.15 billion this year and 3.68 billion in 2015.

(For other news from Reuters Russian and Eastern Europe Investment Summit, click on http://www.reuters.com/finance/summits)

(Follow Reuters Summits on Twitter @Reuters_Summits) ($1 = 3.1318 Polish zlotys) (Writing by Adrian Krajewski; Additional reporting by Marcin Goettig; Editing by Jane Merriman)