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22nd August 2017

Citi Handlowy for Clients’ Growth

  • Continued increase in client business – revenues from clients up by 16% YoY
  • Supporting individual clients in achieving their goals and helping institutional clients grow their businesses – volumes increase above the industry levels
  • Continued relationship banking growth – Citi Handlowy credit card gains popularity among credit cardholders
  • Effective retail banking model – higher online sales numbers and stable Smart acquisition growth
  • Bank of first choice among global clients
  • Consistent dividend payout policy – we are one of only two banks that paid out the dividend

 

In the second quarter, we continued to work effectively towards our goals by supporting investments of our institutional clients and helping our individual clients achieve their financial goals. We provided financing to over 400 companies, which translated into the expected double-digit volume growth. In retail business, we continued to grow the Smart banking. By launching the redesigned Citibank Online platform, we significantly increased the share of online sales in our innovative distribution model, while becoming even more available to our clients, said Sławomir S. Sikora,CEO of Citi Handlowy. We remain a reliable bank for our investors and shareholders. We consistently follow our dividend payout policy. We were one of only two banks that paid out the dividend to its shareholders.

In Q2 2017, the Bank’s revenues grew to the level of PLN 524m, meaning that the Bank’s revenues remained at the level comparable to that reported a year ago, excluding the impact of a one-off transaction effected in 2016. Moreover, we posted a significant (7%) growth of the interest and commission income in Q2 which pushed our net profit to the level of PLN 158m

At the same time, the Bank significantly increased its exposure to institutional clients. At the end of Q2 2017, the volumes of loans to institutional clients rose by 14% YoY. The growth dynamics was over twice as high as the market average. The Bank also intensively supported individual customers. The increase in retail loans was also above the sector – 4% YoY compared to 3% YoY in the banking sector.

First innovative retail banking model

The redesigned Citibank Online platform enhanced the experience of our clients as they bank with us online and mobile. Since the launch of the new Citibank, the Digital NPS, including Citibank Online, grew from 4% in March 2017 to 28%. Citibank Online accessed through mobile channels is even better rated by our clients – the Mobile NPS rose from 7% in March 2017 to 58% at the end of Q2. At the same time, the number of clients using Citibank Online via their mobile phones is on the rise – at the end of Q2 2017 there were over 122 thousand active mobile banking users, i.e. customers who used mobile banking services (the application or responsive Citibank Online) at least once in 30 days. It corresponds to an increase of approx. 44% as compared to Q2 2016.

The new online banking system has also strengthened the Smart Banking Ecosystem, offering solutions that enable clients to quickly and effortlessly apply for new products. As a result, the acquisition in online channels has significantly improved – the number of credit cards acquired by clients on the Internet rose by 42% YoY. The launch of an innovative application for iPads, used by the Bank’s sales representatives, directly translated into a rise in investment products sales by 19% YoY.

Citi Handlowy is also reinforcing its position of the “number one” bank for its clients. In Q2 2017, the credit card transaction volumes were up by 6% YoY, while FX transactions volumes increased by 7% as compared to the year-ago period.

Also more clients choose Citi Handlowy to open their bank account – at the end of 1H 2017 there were 459 thousand clients having such an account. The positive trend can be also observed for the credit card portfolio – there were 702.4 thousand credit cards at the end of June 2017.

Bank of first choice for clients with global aspirations aspiracjami

Citi Handlowy consistently implements its strategy of supporting its client growth. The institutional clients volumes increased by 14% at the end of 1H 2017. It means that the growth dynamics of loans was higher by 50% as against the entire sector. By June 2017, the Bank provided financial support to over 400 companies.

Thanks to its global network and unique technology solutions, Citi Handlowy is the “go-to” financial institution for international companies. From the beginning of 2017, the assets of global companies in the Bank’s portfolio have risen by 27%, which may suggest a significantly higher appetite of foreign investors for investments in Poland. A strategic investment worth PLN 1.3bn made by one of the Bank’s key global clients from the automotive industry may confirm that. The Bank served as the Mandated Lead Arranger in that transaction.

Citi Handlowy is invariably the leader of the FX market. Offering over 130 currencies, it remains the bank of first choice for clients running their businesses all over the world. To make it more convenient, clients can access the Citi FX Pulse platform and CitiDirect, the online banking system for companies through a single logon. Approx. 80% of all FX transactions take place online. The FX offer based on a unique market expertise has been expanded by the Puls Rynku [Market’s Pulse] application which ensures quick contact with dealers and provides access to the banking experts’ comments on the latest market events.. According to the “Rating&Rynek” [Rating&Market] report by Fitch Ratings, at the end of June 2017 the Bank had a 15% share in the market as the organizer of bond and certificate of deposit issues for banks, ranking second among participants of the market.

You can find more information on the Bank’s results in Q2 2017 in the report published in the Investor Relations tab on our website: www.citihandlowy.pl

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