Bank Handlowy profits soar 4x to 717 million pln

Bank Handlowy recorded PLN 717.47 million of consolidated net profit attributable to shareholders of the parent company in 2021 compared to PLN 172.4 million of profit a year earlier, the bank said in the report.

In an earlier quarterly report, the bank announced that its consolidated net profit amounted to PLN 747.24 million in 2021.

Net interest income amounted to PLN 788.06 million compared with PLN 1,001.68 million a year earlier. Net fee and commission income amounted to PLN 649.87 million compared with PLN 559.96 million a year earlier.

The bank's total assets amounted to PLN 61.86 billion at the end of 2021 compared to PLN 60.94 billion at the end of 2021.

On a standalone basis, the net profit in 2021 amounted to PLN 715.97 million, compared to PLN 158.09 million of profit a year earlier.

“Last year, the bank's net profit more than quadrupled to PLN 716 million compared to 2020, to the highest level since 2014. This reflects the successful ventures of our clients, which we supported, among others in conducting mergers and acquisitions in Poland and abroad. We participated in the largest stock exchange debuts of Polish companies, continuing to support clients in domestic and foreign expansion, ”wrote President Elżbieta Czetwertyńska in a letter to shareholders.

Citi Handlowy was created from the merger of Bank Handlowy in Warsaw - the oldest commercial bank in Poland and Citibank (Poland) S.A. The offer of the capital group, apart from classic banking services, includes capital market services and products offered by a brokerage house and leasing products. The bank has been listed on the WSE main market since 1997.

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