VeloBank to acquire consumer banking business of Citi Handlowy.

VeloBank, a Polish universal bank, agreed to acquire consumer banking business of Citi Handlowy, a Polish commercial bank. Financial terms were not disclosed. "This transaction enables us to deploy additional resources to our institutionally focused businesses, so we can continue to connect corporations in Poland to our global network. We’re proud of this significant milestone in simplifying our firm, and we’re pleased that our consumer banking colleagues in Poland are going to a buyer that will continue to invest in this great franchise," Ernesto Torres Cantú, Citigroup Head of International.