Citi Sells Polish Consumer Business to VeloBank

Citi sells Polish consumer business to VeloBank

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.

Cerberus acquires Citi’s Polish retail arm - Private Equity Wire

Cerberus Capital Management has further strengthened its position in the Polish banking sector through its local unit, VeloBank SA, which is to acquire the retail banking operations of Citi’s Bank Handlowy SA, according to a report by Bloomberg. The transaction, valued at up to PLN532m ($142m), encompasses PLN8.9bn in assets and is expected to close by mid-2026, subject to regulatory approvals. The acquisition marks a strategic expansion for Vel…

Citi Handlowy to divest Poland’s consumer banking to VeloBank

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 banking services, including wealth management, credit cards, consumer loans, and deposits, from Citi Handlowy to VeloBank. This transaction will also involve the transfer of employees and branches associated with the consumer banking unit to VeloBank. Comp…

Citi to Sell Polish Consumer Banking Business Amid ‘Strategic Refresh’

Citi Handlowy, a Polish banking business that is majority-owned by a Citigroup subsidiary, plans to sell its consumer banking business.