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Poland's Citi Handlowy postpones sale of its retail business

Reuters
·1-min read

GDANSK (Reuters) - Citigroup's Polish unit, Bank Handlowy, postponed the sale of its retail segment due to the current geopolitical situation, its chief executive Elzbieta Czetwertynska said on Monday.

Czetwertynska said that on a recent visit to Poland on April 20, Citigroup CEO, Jane Fraser, confirmed that bank's retail business in Poland is still up for sale, "however due to the current geopolitical situation and its economic impact, the bank has decided to postpone the transaction," Czetwertyńska said.

"Citi will come back to the issue when the time is right." she added.

(Reporting by Patrycja Zaras, Karol Badohal, Weronika Maria Edmunds, Editing by Louise Heavens)