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Citi Handlowy is #1 in institutional banking

Increased investor and client activity, global experience and confidence of entrepreneurs in Citi Handlowy translated in the third quarter into very good performance of institutional banking. The bank, in cooperation with the global Citi, participated in all the most important transactions in the financial markets in Poland, taking the first place in rankings (data for September).

Among other transactions, Citi Handlowy was a joint book runner for a syndicated loan granted to a big fuel company, joint global coordinator in financing granted to one of the packaging market leaders, and also participated in the biggest IPO of the last decade in the Polish stock exchange – of Allegro. In the third quarter, the bank recorded PLN 289 million revenues from institutional banking, its strategic business.
Despite the trying times, our clients are actively looking for growth opportunities. At Citi Handlowy, we offer them the market’s best expertise and know-how as well as access to global solutions, which allow them to achieve their ambitious plans,” said CEO Sławomir S. Sikora. “We are positive that the rebound of our economy next year will create new possibilities that will be exploited by companies. They can include consolidation of industries or obtaining cheaper financing on the capital market by companies with non-investment grade.
Citi Handlowy’s net profit for the third quarter amounted to PLN 115 million.
Deposit volumes in institutional banking grew in Q3 by 35 percent (y/y), while loans decreased by 3 percent.
Lower client activity resulting from the pandemic and record low interest rates led to a decrease in the revenues from consumer banking.
The launch, at the beginning of the third quarter, of the revolutionary service of CitiKantor, which uses the experience and strong position of the bank in FX exchange for institutional clients, helped boost consumer FX transactions by more than a third from a year earlier and by 54 percent from the previous month. Meanwhile, the number of active clients of this service increased by 60 percent.  
In the third quarter, the number of new clients of private banking with assets exceeding USD 1 million returned to the record-high levels from before the pandemic. The issue prospectus of Allegro allowed the bank to enter into the fourth quarter on an equally high note.  
Financial highlights for Q3 (y/y):
  • Deposits up 25%, loans down 3%
  • Total revenues of PLN 440 million
  • Net profit of PLN 115 million (up 1%)
  • Loan to deposit ratio of 50%  

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