Bank Handlowy w Warszawie S.A. was founded in 1870 by a group of investors led by
Leopold Kronenberg. It is the oldest commercial bank in Poland and one of the oldest
European banks acting without any interruption. The first President of the Bank's
Board was Count Józef Zamoyski, and after two years this function was taken over by
Before World War I, Bank Handlowy was the largest privately owned bank in Poland
and one of the few ensuring financial processing of the trade with Russia and
Western Europe. It has survived two world wars without disrupting its business
After 1945, Bank Handlowy became the main Polish correspondent of foreign banks. In
1964 it was granted the official monopoly on Polish foreign trade transactions. As a
result, the largest network of correspondent banks was created. A London branch,
representative offices in New York, Moscow, Belgrade, Rome and Berlin as well as
affiliates in Vienna, Luxembourg and Frankfurt were opened.
The year 1989, a turning point in the Polish economy, also began a new chapter in
the history of Bank Handlowy. The bank lost its monopoly on foreign transactions but
it gained a bigger freedom in the field of all banking services. A quick expansion
of the network of branches and the development of new financial services enabled a
significant increase in the volume of both local and international operations of the
Citibank (Poland) S.A. launches its operations in Poland.
In 1997, after almost 60 years, Bank Handlowy returned to the Warsaw Stock
In 2000 the shareholding structure of Bank Handlowy changed radically. The
three-year period of the scattered shareholding based on passive investors ended up.
In the year of its 130th anniversary, the Bank opened a new chapter in its history
by becoming a part of the global Citigroup network. The purchase of a majority stake
in two calls by the largest financial institution world-wide and the approval of the
excess of 75% of the share capital of the Bank by Citigroup entities granted by the
Commission for Banking Supervision enabled the merger of Bank Handlowy w Warszawie
S.A. and Citibank (Poland) SA.
On October 11, 2000 the Commission for Banking Supervision consented to the merger
between Citibank (Poland) SA and Bank Handlowy w Warszawie SA, finalized in March
The legal name: Bank Handlowy w Warszawie S.A., the brand name: Citibank Handlowy.
A new logo of Bank Handlowy w Warszawie S.A. - Citi Handlowy.
Today, Bank Handlowy w Warszawie S.A. is one of the largest financial
institutions in Poland. Under the Citi Handlowy brand it offers a wide range of
modern corporate, investment and retail banking products and services. As a
member of Citi, the leading global financial institution, Bank Handlowy offers
its customers access to financial services in over 100 countries.
Citigroup is the leading global financial institution. It serves about 200
million individual, corporate, governmental and institutional customers in more
than 100 countries. It offers a wide range of financial products and services
such as corporate and investment banking, consumer banking, loans, insurance,
brokerage services and asset management. More information is available at www.citigroup.com