2023 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 2023 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 24% YoY
  • high cost effectiveness, C/I ratio - 32%
  • capitalization PLN 13.2 B (+34% YoY)

    Net profit for distribution (PLN MM)

Return on Equity (ROE) for the Capital Group

28.6% - above the cost of capital and inflation

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

  • increase of revenues in Institutional Banking by 23% YoY
  • bond issue arrangement for an international financial institution in total amount of PLN 4.6 B (+48% YoY)
  • increase in volumes of guarantees, letters of credit and factoring granted ~3x YoY
  • Digital Banking development - CitiDirect - 35 MM of transactions (+4% YoY)

Continuation of growth in the area of Consumer Banking

  • record high number of the most affluent clients (Citi Private Client - CPC) - increase by 22% YoY
  • increase of individual clients' deposits by 8% YoY
  • increase of investment product volumes by 16% YoY
  • increase in credit cards’ acquisition by 65% YoY



  • implementation of the strategic goal of acquiring PLN 1 billion of "green assets" - nearly PLN 400 MM acquired in 2022-2023,
  • credit policy – incorporation of environmental and social factors in credit processes
  • reduction of the carbon footprint from own activities, reduction of CO₂ emissions (Scope 1 and 2) by 75% in 2023 vs. 2019 – realization of 100% of the goal defined in the Strategy for 2022-2024
  • announcing a new goal to achieve climate neutrality in own operations (scope 1 and 2) by 2030.


  • continuation of the Support Ukraine program in order to integrate the Ukrainian community with Polish society, including support for women, entrepreneurs, education and support for children and teenagers
  • promoting and supporting employee initiatives - Citi Women Network, Disability Network, Citi Pride Network, charity activities or joint sports activities – Live Well at Citi
  • 1st place among listed companies in terms of diversity according to the report "Women in listed companies. Index of the Women Leadership in Business Foundation", the title of "The Best Employer According to Rzeczpospolita", presence in LinkedIn's 2023 Top Company ranking, Top 50 Best Employers ranking of the WPROST weekly, “Cashless for Equality” ranking


  • maintaining position of the leader of diversity - 57% of women in the Bank's Management Bodies (Managements Board and Supervisory Board), 49% of women in the managerial team,
  • the title of "Super Ethical Company" in the Puls Biznesu study, the title of "Climate Aware Company" in the Corporate Climate Awarenesss Study.
  • presence in WIG-ESG index

Responsible business.