Bank Handlowy w Warszawie, operating under the Citi Handlowy brand, has agreed to divest its consumer banking division in Poland to VeloBank. The deal will see the demerger of various consumer ...

May 27 (Reuters) - Citigroup (C.N) said on Tuesday its Polish unit has agreed to sell its consumer banking business in the country to Velobank, as the Wall Street giant nears the end of a years ...

Upon closing, it will be the 10th international consumer business Citi has sold since 2021. The bank will maintain its institutional business in Poland, as it has elsewhere, following the sale.

Bank Handlowy , the Polish arm of Citigroup , has announced a plan to shift its focus towards institutional banking and has agreed to sell its consumer banking business to VeloBank.

VeloBank is owned by funds affiliated with Cerberus Capital Management, the European Bank for Reconstruction and Development, and the International Finance Corp., a member of the World Bank Group.

VeloBank has 46.5 billion zloty ($11.8 billion) in assets and a portfolio of loans worth 19.4 billion zloty. It made 446.7 million zloty in net income in the fiscal year ended Sept. 30.

Last month, VeloBank agreed to pay as much as 532 million zloty ($142 million) for the retail operations of Citi’s Bank Handlowy SA, with 8.9 billion zloty of assets, over half a million clients and 1 ...

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Wed, May 28, 2025, 8:00 AM2 min read In This Article: C Bank Handlowy w Warszawie, operating under the Citi Handlowy brand, has agreed to divest its consumer banking division in Poland to VeloBank.