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 Leopold Kronenberg.
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 operations.
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 bank.
Citibank (Poland) S.A. launches its operations in Poland.
In 1997, after almost 60 years, Bank Handlowy returned to the Warsaw Stock Exchange.
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 2001.
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