2022 Annual Report of the Capital Group of Bank Handlowy w Warszawie S.A.

Letter from the CEO

I’d like to invite you to reading the 2022 Annual Report of the Bank Handlowy w Warszawie S.A. Capital Group

Elżbieta Czetwertyńska
President of the Management Board
Bank Handlowy w Warszawie S.A.

> Read the Letter

Creating value for shareholders

  • record high net profit
  • increase in revenues by 55% YoY
  • high cost effectiveness, C/I ratio - 37%
  • 75% dividend payout recommendation from 2022 net profit – in line with Strategy for 2022-2024
  • dividend yield at 11%

    Net profit for distribution (PLN MM)

Return on Equity (ROE) for the Capital Group

24% - above the cost of capital and inflation, over 2x higher YoY

Strong increase in Institutional Banking revenues, constituting over 70% of all the Bank's revenues

  • increase of revenues in Institutional Banking by 51% YoY
  • high asset growth dynamics in the Commercial Banking segment +18% YoY
  • increase in FX volumes by 30% YoY among Institutional Banking Clients

Continuation of growth in the area of Consumer Banking

  • increase of the number of the most affluent clients (Citi Private Client - CPC) by 8% YoY
  • increase of individual clients' deposits by 6% YoY
  • increase of FX volumes by 75% YoY, increase in the number of FX transactions by 31% YoY, most of this volumes are processed via dedicated tool - Citi Kantor
Igor Sikorski - alpine skiing
Polish Paralympic Team



  • acquiring nearly 400 million of "green assets" in 2022 (realization of 38 % of the goal defined in the bank's strategy for 2022-2024 regarding PLN 1 billion in green assets
  • credit policy – incorporation of environmental and social factors in credit processes
  • reduction of own greenhouse gas emission in 2022 by 64% vs 2019 – realization of 100% of the goal defined in the bank's strategy for 2022-2024


  • support Ukraine - over 1,000 Citi volunteers, 3,500 hours, hundreds of projects, over 5 million zloty to support people in crisis
  • promoting and supporting employee initiatives - Citi Women Network, Disability Network, Citi Pride Network, charity activities or joint sports activities – Live Well at Citi
  • increase of volunteer involvement - in 2021 Citi Handlowy volunteers were involved in helping over 31 thousand times, despite the pandemic obstacles
  • presence in Diversity IN Check, 2022 Best Employers ranking by Forbes and TOP 50 Best Employers by WPROST


  • maintaining position of the leader of diversity - 60% of women in the Bank's Management Bodies (Managements Board and Supervisory Board), 51% of women in the managerial team
  • pay gap* ratio at 93%
  • presence in WIG-ESG index

* pay gap – the ratio of women's aggregate remuneration to the aggregate remuneration of men (aggregate remuneration for 2022 understood as annualized average revenue of employees working as at 31/12/2022 for 2022, converted to full-time equivalent, excluding employees on child care leave, unpaid leave and on long-term sick leaves as at 31/12/2022). This ratio calculated on the basis of basic salary is 94%.

Responsible business.