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Bank Handlowy Listed on WIG20
On Tuesday, April 5, after the session closing, Citi Handlowy joined the group of WIG20-listed companies. WIG20 is the main index on the Warsaw Stock Exchange. Thus, the bank became one of five that are classified as the biggest and most liquid companies listed on the Warsaw Stock Exchange. The Warsaw Stock Exchange decided to include Citi Handlowy in the WIG20 group on the basis of calculations and ranking lists.
The listing of Bank Handlowy w Warszawie SA shares on the WIG20 index is an important moment in the bank's history. Some of the factors that resulted in the bank joining the WIG20 group included a consistently implemented 2010-2012 strategy and dividend policy that for years has positively set the bank apart from peer banks. The effects of these actions could have been observed by investors and analysts for the last 18 months, which directly translated into the increase in the company's capitalization.
Beginning in January 2010, Citi Handlowy has implemented a new strategy drawing on the foundations of confidence, quality, innovations and efficiency. This strategy has brought visible results, and as soon as 2010, the bank could report improvement in all key financial indices. The net profit amounted to PLN 755 million in 2010. The rate of return on equity measured by ROE increased by 3.8 percent against the result of 2009, and it leveled at 12.8 percent at the end of 2010. Costs expended by Citi Handlowy remain under control. Despite the creation of new jobs at the bank and the development of the bank's contact points network, the cost-income ratio maintained at a very good level of 54 percent.
In March, the bank’s Supervisory Board resolved to distribute the net profit for 2010, and it submitted the proposal to the General Meeting of Shareholders. The Management Board of the bank decided to appropriate for the dividend payment the amount of PLN 747 372 912,00, which constitutes 99.9 percent of the bank’s net profit. The day for establishing the right to the dividend was set for June 16, 2011, and the day of the dividend payment was planned for July 29, 2011.
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