Poland's largest bank by assets, PKO BP, signed a term sheet on the sale of 100% stake in real estate developer Qualia Development, as well as real estate assets in central Warsaw, to a fund from the Griffin Group, PKO BP said in a press statement on Monday.

The sale is conditional, among others, on Griffin securing regulatory consent from UOKiK anti-monopoly regulator, the statement reads.

PKO BP expects to finalize the deal at the turn of Q1/Q2, the bank said.

The transaction is in line with PKO BP's strategy of focusing on banking operations, PKO BP head of strategy and investments Pawel Borys said as cited in the statement. It will also reduce risk and free up means for lending.

Qualia's book value at end-September 2014 stood at some PLN 318 million, according to PKO BP's latest quarterly report.

The real estate assets to be sold along with the developer are office buildings located in the centre of Warsaw.