Letter from the CEO
I’d like to invite you to read the 2024 Annual Report of the Bank Handlowy w Warszawie S.A. Capital Group
Strong operating results of the Bank
net
profit (PLN)
1.8 bn
high cost effectiveness,
C/I ratio
35%
increase in loan
volumes
6% YoY
TLAC TREA
ratio
24,4%
Loan volumes (PLN MM)
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Financial statements 2024
- Consolidated income statement
- Consolidated statement of comprehensive income
- Consolidated statement of financial position
- Consolidated statement of changes in equity
- Consolidated cash flow statement
- Additional information including the description of adopted accounting principles and other explanatory information
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Report on activities
- Poland’s economy in 2024
- Organizational structure of the Capital Group of Bank Handlowy w Warszawie S.A.
- Selected financial data of the Capital Group of Bank Handlowy w Warszawie S.A.
- Significant risks related to the activities of the Capital Group of Bank Handlowy w Warszawie S.A.
- Sustainability Statement for 2024
- The Bank’s community initiatives and cultural sponsorship
- Investor information
- Statements of Bank Handlowy w Warszawie S.A. concerning the application of corporate governance standards in 2024
- Other information about the authorities of Bank Handlowy w Warszawie S.A. and corporate governance rules
- Agreements concluded with the registered audit company
- Statement of the Bank’s Management Board
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Auditor’s Opinion
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Creating value for shareholders
- • ROE: 21.1% - (vs. 15,7% in banking sector) - above the cost of capital and inflation
- • ROA: 2.4% (vs. 1.3% in banking sector)
- • capitalization: PLN 11.6 bn
- • dividend yield: 10.2% - one of the highest in the banking sector
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Maintaining strong revenues in Institutional Banking
- • increase of loan volumes by 8% YoY
- • volume of long-term loans granted in 2024: PLN 2.1 B, +31% YoY
- • increase in value of trade financing transactions by+58% YoY
- • increase in FX volume by +4% YoY
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Continuation of growth in the strategic areas of Consumer Banking
- • record high number of the most affluent clients (Citi Private Client - CPC) - increase by 7% YoY, increase in the number of CitiGold clients by 9% YoY
- • increase in individual clients' deposits by 5% YoY
- • increase in investment product volumes by 17% YoY
Sustainability
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Environmental:
- achieving the strategic goal of acquiring PLN 1 billion of "green assets" - nearly PLN 1.3 billion acquired in 2022-2024
- credit policy – incorporation of environmental and social factors in credit processes
- achieving 100% of the goal for 2022-2024 in terms of reducing the carbon footprint from own activities and reducing energy consumption
- taking further steps to achieve climate neutrality in own activities (scope 1 and 2) by 2030 - modernization of the bank's headquarters at Senatorska Street
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Social
- social involvement - Citi volunteers in Poland reached out to over 20,000 people in need - social welfare homes, orphanages and refugees
- promoting and supporting employee initiatives - Citi Women Network, Disability Network, Citi Pride Network, charity activities or joint sports activities – Live Well at Citi
- diversity supporting - maximum result in the ranking of institutions with professional and social equality of LGBT+ people organized by Cashless.pl
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Governance
- maintaining position of the leader of diversity - women represents 43% of the Bank's Management Board and 37% of the Supervisory Board, which is confirmed by the distinction "ESG Eagles" of the Rzeczpospolita daily
- the title of "Ethical Company" in the Puls Biznesu study.
