Bank Handlowy aims to entice more wealthy clients

Within the next two years, Bank Handlowy, controlled by Citigroup, intends to increase to 20%, its market share in services for wealthy clients. According to insiders, the method the bank has chosen for this, may prove problematic, as the bank has currently 10% of the market. Bank Handlowy has prepared a new program combining investment products, insurance and banking services aimed at enticing rich clients. "We estimate that there are around 200,000 persons eligible to participate in this programme," claimed Bank Handlowy's Vice-President Philip King. Poland is the second country, after the USA, where such a programme will be introduced. "Our position on the market is strong and we still have great future opportunities," maintains King. Analysts remain skeptical and assess the bank's projects as being too optimistic and ambitious. They also point to the strong competition on the domestic market, which Bank Handlowy will have to face. (Puls Biznesu, p. 6) K.Z