Velobank will formally complete the takeover of retail banking operations separated from citi handlowy on june 15, after more than a year of preparations. The process will begin on the afternoon of friday, june 13, and continue through the weekend until monday.
The operation covers the transfer of client accounts, brokerage accounts held at Biuro Maklerskie Banku Handlowego, debit cards, loans, deposits, and wealth management services. It also includes the banking services directed at small and medium-sized enterprises.
Over the same weekend, the branches that previously served citi handlowy clients across poland will undergo rebranding to velobank. The bank is ready for the integration, which will increase its client base from 1.7 million to around 2.3 million.
Scale of the integration
As part of the transaction, velobank will take over 22.1 billion zloty in deposits from individual and business clients, 6 billion zloty in loans, and 8.9 billion zloty in assets under management. This represents one of the largest retail banking transfers in the polish market in recent years.
– We are prepared to begin the process of attaching the retail banking carved out from citi handlowy structures. this will increase the number of our clients from 1.7 million currently to about 2.3 million after the merger – said adam marciniak, president of velobank, in an interview with wnp.
Velobank’s growth trajectory
– Over the four years since its creation, velobank’s valuation has nearly tripled, and its balance sheet has doubled – added marciniak. The bank has grown rapidly since its establishment, attracting both clients and capital.
The main shareholder of velobank is the american fund cerberus capital management, which holds 80.2 percent of shares. The european bank for reconstruction and development owns 9.9 percent, and the international finance corporation, an affiliate of the world bank group, holds the remaining stake.
Źródło: wnp.pl, Fot. wnp.pl
