Citi Handlowy announced an important transaction with Velobank. In the background of billions of zlotys
As we read in the communication, the transaction covers around PLN 6 billion of loans, PLN 22.1 billion in deposits and PLN 8.9 billion in management (based on balance sheet data as at March 31, 2025).
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“The portfolio of currency mortgage loans will remain in Citi Handlowy, and its participation in the bank's portfolio is marginal. Citi Handlowy consumer business employees (around 1650 people) and branches will also be transferred to Velobank. This means that customers will be able to continue working with the same advisers with whom they have built relations for years. The transition to Velobank will be liquid and automatic – customers will have access to the same wide range of products ” – it was written.
The bank also informed that He received an independent opinion from EY from the company about the fair effects of the financial effects of transactions for Citi Handlowy shareholders as a whole (so -called Fairness Opinion). A similar opinion confirming the fairness of the financial effects of transactions was also obtained from another reputable financial advisor.
The combination of retail banking with Velobank will take place simultaneously with migration after obtaining the required consents, including regulatory, and achieving operational readiness, which is expected in mid -2026. The intention of both banks is to perform the process efficiently so that it disturbs the functioning of customers as little as possible. After the migration of technological systems and closing at the same time, the current Citi Handlowy clients will become Velobank clients.
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Until then, Citi Handlowy will continue to provide high -quality services to its clients, and the transaction will not affect the bank's current operations. The bank will inform its clients about the key stages of transactions in direct messages and on the website.
Velobank is a bank with American capital, and in its shareholding there are trusted international financial institutions, such as the European Bank of Reconstruction and Development. Velobank will continue to provide customers with high quality services and a wide range of products.
