6 days ago
Cerberus Boosts Polish Bank Presence by Buying Citi's Retail Operations
Cerberus Capital Management LP 's Polish unit agreed to acquire the consumer business of Citigroup 's Bank Handlowy SA, increasing its footprint in the nation's banking industry.
Cerberus's VeloBank SA will pay as much as 532 million zloty ($142 million) for Handlowy's retail operations with 8.9 billion zloty of assets in the deal expected for completion in mid-2026, both lenders said in statements. The disposal, sought since 2021, will help Handlowy to focus solely on corporate and investment banking.
