Bank Handlowy w Warszawie S.A.

Bank Handlowy w Warszawie S.A.

BHW.WA
Bank Handlowy w Warszawie S.A.PL flagWarsaw Stock Exchange
122.00
PLN
-0.20
- -
15.91BMarket Cap
Bank Handlowy w Warszawie S.A.
BHW.WA
(Warsaw Stock Exchange)

Recent

price

122.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
20.15
18.87
21.33
20.12
18.93
16.32
16.33
16.15
16.76
17.18
16.23
18.72
28.19
34.85
25.23
23.93
25.38
Revenue per Share
5.78
5.64
7.42
7.44
7.25
4.79
4.6
4.1
4.89
3.67
1.32
5.49
11.83
17.27
13.48
12.79
12.4
Basic EPS, GAAP
-0.85
-11.64
7.7
2.06
11.63
13.19
-7.62
3.76
57.5
-24.54
5.49
16.55
-39.65
9.3
37.96
41.85
70.26
Free Cash Flow per Basic Share
3.77
5.72
2.76
5.79
7.15
7.43
4.68
4.53
4.11
3.74
- -
1.2
5.47
9
11.14
13.75
- -
Dividend per Share
9.63
9.59
11.37
11.43
11.21
8.75
8.55
8.02
8.31
8.34
10.22
14.39
20.66
26.09
22.31
16.72
19.65
Book Value per Share
39.85
39.43
46.01
45.08
46.1
41.93
41.63
42.76
43.15
43.1
48.43
46.99
51.25
64.63
68.89
70.34
70.56
Tangible Book Value per Share
131
131
131
131
131
131
131
131
131
131
131
131
131
131
131
130
130
Basic Weighted Avg Shares
2,633
2,465
2,788
2,629
2,473
2,133
2,134
2,110
2,190
2,245
2,121
2,446
3,684
4,554
3,294
3,117
3,311
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
62
60
65
63
71
70
70
73
71
86
107
112
103
111
119
48
43
Depreciation Expense
755
736
970
973
947
626
602
536
639
480
172
717
1,546
2,256
1,760
1,666
1,617
Net Income, GAAP
19.92
20.08
21.73
20.15
18.87
20.78
21.29
24.26
22.91
27.05
45.66
24.55
22.51
21.12
23.3
18.37
21.25
Effective Tax Rate (%)
28.66
29.88
34.8
37
38.3
29.37
28.19
25.39
29.17
21.38
8.13
29.33
41.96
49.55
53.44
53.45
48.84
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
582
325
375
352
198
128
36
1
143
138
126
122
113
1,195
1,145
- -
LT Debt
6,493
6,444
7,391
7,307
7,411
6,851
6,790
6,939
7,057
7,075
7,581
7,383
7,960
9,729
9,869
10,042
10,084
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
66.15
58.65
70.85
65.32
64.07
48.05
53.23
49.46
59.88
44.16
14.22
44.64
67.51
73.88
55.69
65.46
54.7
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
130
130
130
Market Capitalization
13,600
13,782
14,398

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
15,448
9,765
25,300
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.1%
6.12%
1.76%
Free Cash Flow
91.33%
11.2%
10%
Net Income, GAAP
36.57%
90.05%
-5.35%
Sales/Revenue/Turnover
5.62%
11.3%
-5.38%
Total Cash Common Dividend
- -
79.86%
23.12%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,088
826
791
1,196
3,294
2025
784
848
752
732
3,117
2026
978
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3.47
3.02
4.17
- -
13.48
2025
3.33
1.27
3.6
- -
12.79
2026
2.96
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
11.14
2025
- -
- -
- -
- -
13.75
2026
- -
- -
- -
- -
- -
Business
Bank Handlowy w Warszawie S.A. operates as a Poland-based commercial bank under the Citibank Handlowy brand, offering a comprehensive range of banking products and services primarily through two segments: Corporate and Investment Banking, and Retail Banking. The bank's core products and services include cash management; trade finance and structured trade finance; treasury services; corporate finance; debt instruments and syndicated loans; asset management and custodian services; brokerage; securitization services; management buy-outs and acquisitions advisory; and leasing activities through subsidiaries. It also provides pension fund management, insurance services, securities portfolio management, and wealth management products targeted at affluent clients, including the Citigold and Citigold Private Client offerings. The bank supports corporate clients with expert financial solutions in liquidity and market risk management, leveraging Citi's global network to serve clients in nearly 100 countries. The bank serves international corporations, large local companies, and small and medium enterprises with international needs across Poland and through representative offices, including one in London. Bank Handlowy w Warszawie was founded in 1870 and is headquartered in Warsaw, Poland. It operates 28 domestic branches and several foreign representative offices. Recently, Bank Handlowy w Warszawie S.A. announced strategic structural changes, notably the agreement to sell its consumer banking business to VeloBank, aiming to finalize the migration by mid-2026, subject to regulatory approvals. This divestiture is part of repositioning the bank to focus more on institutional and corporate banking services, emphasizing cross-border transactions, global networks, cash management, and trade solutions. The bank targets maintaining disciplined cost growth and aims to double its sustainable finance portfolio to PLN 2 billion. Additionally, it continues to strengthen its leadership in servicing international corporations and large Polish companies, while fostering growth among SMEs and new economic segments such as technology companies. These changes reflect a strategic shift towards specialized institutional services and wealth management, aligning the bank’s operations more closely with Citi’s global footprint and expertise. Bank Handlowy w Warszawie S.A. is a subsidiary of Citibank Overseas Investment Corporation (COIC), part of the global Citi group. The bank reported total revenue of approximately PLN 3.71 billion and net income of PLN 1.79 billion, with a significant return on equity reflecting its strong financial position. Its services are aimed at entities requiring comprehensive corporate finance solutions alongside transactional and investment banking services, spanning Poland and international markets. The bank continues to receive recognition for excellence and innovation in banking services within Poland. This profile captures Bank Handlowy's comprehensive product and service offerings, its recent strategic divestiture of consumer banking to VeloBank, and ongoing focus on institutional, corporate, and wealth management services, reflecting a realignment towards specialized global financial solutions. The bank’s long-standing presence dating to 1870 and its headquarters in Warsaw underscore its significant footprint in the Polish and international banking sectors.