Tag: VeloBank

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Polish Financial Supervision Authority Approves VeloBank’s Acquisition of Citi Handlowy’s Retail Operations

The Polish Financial Supervision Authority (KNF) has unanimously approved VeloBank’s acquisition of the retail division of Citi Handlowy. Obtaining this decision at the current...

Retail Prices in Poland Continue to Rise, but at the Slowest Pace in Months

The latest edition of the “Retail Price Index” report, published by UCE Research and WSB Merito Universities, shows that in October this year, everyday...

VeloBank Finalizes Acquisition of Noble Funds TFI and Launches VeloFunds TFI

VeloBank continues its strategy of sustainable growth and expansion in the investment services market, finalizing the acquisition of 86.83% of shares in Towarzystwo Funduszy...

Poland’s Public Debt Projected to Rise Significantly by 2035, Fiscal Consolidation Expected

The path of interest rate cuts in Poland is becoming clearer — a decline to 3.5% by 2026 is expected, forecasts Piotr Arak, chief...

VeloBank Signs Conditional Agreement to Acquire the Retail Banking Division of Citi Handlowy

VeloBank has signed a conditional agreement to purchase the retail banking segment of Citi Handlowy. The transaction is expected to be finalized upon receiving...

VeloBank Acquired Majority Stake in Noble Funds TFI

In response to customer expectations and in line with their sustainable development strategy, VeloBank is expanding its investment product portfolio. Just two months after...

Banks Ease Mortgage Terms as Average Credit Capacity Rises to 488 Thousand PLN Amid Anticipated Rate Cuts

Lack of specifics about a new state support program for property buying and anticipation of an interest rate cut have led banks to ease...

Appointment of new Supervisory Board and new CFO at VeloBank

With the completion of the transaction involving the acquisition of VeloBank by EBOR, IFC and Cerberus, a new Supervisory Board has been established, with...

Finalization of VeloBank’s acquisition by Cerberus, EBOR and IFC

An affiliated entity of Cerberus Capital Management, L.P. (“Cerberus”), the European Bank for Reconstruction and Development (“EBRD”) and the International Finance Corporation (“IFC”, an...

The Growing Role of Generative AI in Business and Banking

The role of generative AI in business is growing: 43% of enterprises worldwide, including those in Poland, are already investing in this technology, with...

20 Years of Poland in the EU: Economic Transformation and Growth

It has been 20 years since Poland's accession to the European Union. This milestone invites a period of reflection to evaluate how the economy...

VeloBank Secures PLN 700 Million Recapitalization from Cerberus Capital Management Subsidiary

VeloBank has secured an investor, a subsidiary of the Cerberus Capital Management, L.P. fund based in New York, which will recapitalize the bank in...

Eggscape from Cages: Polish Consumers Drive Shift in Hen Farming Practices

For ten years now, there's been a steady increase in the share of alternative methods of laying hens' farming. From these systems, every third...

The Bitter Truth About Chocolate: Why Prices Are Rising

Confectionery and desserts are currently the fastest inflating category of products in stores, having increased in price by over 14% this January alone. And...
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