GDANSK, May 28 (Reuters) - Poland's Citi Handlowy BHW.WA announced late on Tuesday that it has established new strategic development directions for years 2025 through 2027, on the condition that an agreement to sell its consumer business to VeloBank is sealed.
Upon finalising the transaction, the bank intends to introduce a new business model focused on institutional value beginning in 2027. By that time, it aims to shift profits from consumer business to higher earnings from institutional banking and to diversify the revenue streams and balance sheet structure of its institutional banking division.
The company's new goals include keeping the cost of income ratio below 30%, compared to the 45% seen in the strategy published in December.
Under the updated strategy, the planned regular dividend payout ratio over a three-year period is expected to range between 75% and 100%, the bank said.
In December, the bank projected a 15% return on equity for 2027, but now expects it to reach about 19%.
(Reporting by Julia Kotowska; Editing by Mrigank Dhaniwala)
((julia.kotowska@thomsonreuters.com; +48 58 769 67 31;))
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