Citi Handlowy to serve Warsaw for a second term

Agreement builds on first five-year term, which resulted in improved liquidity management and account consolidation


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Today witnessed the signing of an agreement by Hanna Gronkiewicz–Waltz, President of the Capital City of Warsaw, and the President of the Management Board of Citi Handlowy, to provide banking services to the Capital. The agreement, which commences on January 1, 2013, is effective for five years.

"Citi Handlowy will be the Capital's bank for the next five years. We have worked together in the previous five year term and during that time we have witnessed many innovative solutions, such as liquidity management and account consolidation, later introduced by other cities. This co-operation is good and advantageous for Warsaw," said Hanna Gronkiewicz – Waltz, the President of the capital city of Warsaw at today's conference.

Slawomir S. Sikora, the President of the Citi Handlowy added: "We are so pleased to have met such high expectations and that we will be able to service the biggest municipal budget in Poland for the next five years. I believe the solutions we have proposed, such as implementation of payment terminals at municipal offices and payment of family benefits by means of pre-paid cards will be valued by the inhabitants of Warsaw."

Citi Handlowy has maintained Capital City Warsaw's bank accounts since January 1, 2008. The agreement signed today, which extends the service by another 5 years, is the result of a public tender which was announced by the city in June. The outcome of which was announced in August, 2012. The agreement includes, among others items, to equip the cash desk offices of the City with POS terminals accepting card payments commission free, local tax transfers at post offices and payment of family benefits by means of pre-paid cards.

Bank Handlowy has been cooperating with the public sector in Poland for many years, offering various products. The Bank services the budgets of, among others, Tarnów, Kolobrzeg, Inowroclaw, Olsztyn, Walbrzych, University of Warmia and Mazury or Koleje Mazowieckie (Mazowsze Province Railways).

In the previous years it co-organized the issue of revenue bonds for Miejskie Wodociagi i Kanalizacja w Bydgoszczy (Municipal Waterworks and Sewage System in Bydgoszcz) for the amount of PLN 220,000,000. The bonds mature in 2024 and are currently the debt instrument with one of longest repayment periods in the Polish zloty issued in Poland.


About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citigroup provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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Bank Handlowy w Warszawie S.A. is one of the major financial institutions in Poland offering under the Citi Handlowy brand a broad range of state-of-the-art corporate, investment and consumer banking products. Through its modern distribution channels and a network of 88 branches, Bank Handlowy provides services to 20,000 corporate customers and 869,000 retail customers. The Bank's capital group includes Dom Maklerski Banku Handlowego (brokerage house) and Handlowy Leasing. Being a member of Citi, the world's largest financial institution, enables the customers of Bank Handlowy access to financial services provided in over 100 countries all over the world.

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