Bank Handlowy w Warszawie
An impressive turn-around in its profits and a stronger overall performance than its competitors in Poland have earned Bank Handlowy w Warszawie (BHW) the award this year.
Following a 20% decline in net profit for 2001, BHW, which is part of US banking giant Citigroup, posted a 48.3% increase last year in difficult economic conditions. This was due in part to its successful exploitation of the products and know-how of its US parent.
Drawing on Citigroup’s expertise in credit cards, BHW has become Poland’s largest issuer of credit cards, with a 50% share of the market. The bank’s pre-paid Visa electron cards, which enable customers to pay bills electronically at supermarkets and petrol stations, were crucial in this achievement.
BHW also enjoys a significant market advantage over competitors due to the considerable cost savings and efficiency gained through a high degree of centralisation and automation. In the bank’s corporate banking business, for example, 90% of all transactions are electronic. The bank’s internet banking offering has been cited for numerous local awards because of its superior quality.
