Business
Citigroup : Citi Handlowy Completes Sale of Consumer Banking Business in Poland to Velobank S.A.
Citigroup : Citi Handlowy Completes Sale of Consumer Banking Business in Poland to Velobank
About this update from Citigroup, Inc.
NEW YORK - Bank Handlowy w Warszawie S.A., which operates under the Citi Handlowy brand, announced today it has completed the sale of its consumer banking business to VeloBank S.A. ("Velobank"), a Poland-based universal bank providing financial solutions to individuals and small and medium-sized companies. The sale, which Citi Handlowy and Velobank first announced in May 2025, includes wealth management, micro business banking, credit cards, consumer loans, deposits and assets under management, consumer clients of the brokerage business, branches and other consumer-related assets, as well as the transfer of approximately 1,600 Citi employees. The transaction, which received all required regulatory approvals, is financially immaterial to Citi and results in a modest regulatory capital benefit on a cumulative basis since the sale was announced. Citi's institutional client businesses in Poland were excluded from the sale. The company remains focused on the success and growth of those businesses to continue serving institutional clients in Poland and globally. Apart from the largely completed wind-downs and Banamex divestiture, which is well advanced, Poland marks the final sale of Citi's international consumer businesses, an effort that has allowed Citi to focus its resources on its five core businesses to deliver growth and improved returns.