Citigroup to sell Bank Handlowy after losses in US?

The rumors first came to life after the American institution posted a gigantic loss in Q4 2007, and according to an announcement by PKO BP president Rafał Juszczak, if it does decide to sell, the bank would be very interested in acquiring the corporate arm of Citigroup in Poland. Representatives from most listed banks admit they would be happy to queue up for such a purchase. Bank Handlowy is the second largest Citigroup business arm in Europe, with an expected  net profit of zł.800 million for this year. It is also a good starting point for further expansion in Eastern Europe. According to experts the American corporation might only decide to sell the corporate division of the institution but will not totally withdraw from the Polish market. The US concern denied to comment on the rumors. (Parkiet, pp. 1, 2, 3) A.K.