VeloBank

What VeloBank does

VeloBank S.A. is a Polish commercial bank founded in 2022 and headquartered in Warsaw (Wola district) at Rondo Ignacego Daszyńskiego 2C, operating under KNF supervision with BIC code GBGCPLPK and BFG deposit guarantee membership. The bank serves individual retail customers, affluent and private-banking clients, micro-businesses, SMEs and corporates, public-sector entities, housing communities and cooperatives, brokerage customers (via Biuro Maklerskie), and Ukrainian citizens in Poland — the latter through dedicated branches with Ukrainian-language service and 800+/500+ benefit application flows. As of the June 2026 integration of Citi Handlowy's consumer banking franchise, the bank operates over 300 branches across Poland with a combined workforce of approximately 4,650 employees and is one of Poland's largest banks by branch reach.

The product platform is anchored by the zero-fee VeloKonto personal account and the VeloKonto Firma business account, and extends across cash loans (representative APR 8.4%, up to 300,000 PLN), mortgages (6.57% APR), consolidation loans (8.1% APR), auto loans (14.7% APR), the 0%-APR VeloFotka point-of-sale loan, plus term and flexible savings products, multi-currency deposits in 10 currencies (EUR/USD/GBP/CHF/NOK/SEK/DKK/CZK/HUF/JPY) and the VeloKantor currency exchange. The technology stack combines a mobile-banking app (iOS, Android, AppGallery) with native integrations to BLIK mobile payments, mObywatel government digital identity, Planet Cash ATMs, Tpay, and the BIK credit bureau, alongside a developer-facing VeloAPI for open banking under PSD2. Security is differentiated by a behavioral-verification system that learns customer transaction and login patterns to flag unauthorized access, supplemented by PESEL blocking and an advisor-verification feature to counter identity fraud and impersonation scams.

VeloBank generates revenue via traditional net interest income from lending and deposits, transaction and account fees, commissions from credit intermediaries and Biuro Maklerskie brokerage, currency exchange and FX-deposit income (USD 12-month at 0.5%, EUR 12-month at 0.3%), and bancassurance distribution of insurance packages such as Pakiet Niezawodny (6 PLN/month) and Pakiet Ochrona Karty (3 PLN/month) under agency agreements with Towarzystwo Ubezpieczeń Europa, Link4, Allianz Polska, PZU Życie, WARTA, UNIQA, and Open Life. Distribution is multi-channel: 300+ physical branches, a 24/7 hotline, secure.velobank.pl internet banking, the mobile app, online application platform eWniosek, a franchise network of authorized intermediaries, and dedicated infolines for mortgages, investments, and business/public-sector banking. The bank is privately held, with Cerberus Capital Management controlling 80.2% and the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC) each holding 9.9%.

Name

VeloBank

Legal name

VeloBank S.A.

Website

https://velobank.pl

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

VeloBank is a Polish commercial bank headquartered in Warsaw, serving retail, affluent, private-banking, micro-business, SME, public-sector, and Ukrainian-customer segments through over 300 branches and digital channels. Following the June 2026 acquisition of Citi Handlowy's consumer banking business, it operates as one of Poland's largest banks under Cerberus, EBRD, and IFC ownership.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Retail banking services
• Consumer lending
• Mortgage financing
• Currency exchange services
• Wealth management

Headquarters

HQ city

Wola

HQ country

Poland

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income: Traditional banking interest income from lending products including personal loans, mortgage loans, and business financing
2. Commission and Fee Income: Fees from account maintenance, card operations, wire transfers, and other banking services
3. Insurance Products (Bancassurance): Revenue from selling insurance products including Pakiet Niezawodny and Pakiet Ochrona Karty through partnership with multiple insurance companies
4. Currency Services: Income from currency exchange services and foreign currency deposits with interest rates up to 0.5% annually

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

VeloBank is a Polish retail and commercial bank offering personal and business accounts, lending products (cash loans, mortgages, auto loans, consolidation loans), savings and term deposits, multi-currency debit cards, insurance, brokerage, and digital banking services. Following the June 2026 acquisition of Citi Handlowy's consumer banking operations, VeloBank expanded into one of Poland's largest banks with over 4,650 employees and 300+ branches.

Product overview

VeloBank is a Polish retail and corporate bank offering a comprehensive platform of banking products and services. The core offering centers on VeloKonto personal accounts and VeloKonto Firma business accounts, complemented by a full range of lending products including cash loans (Pożyczka gotówkowa), consolidation loans, mortgages (Kredyt hipoteczny), and auto loans (Kredyt samochodowy Wymarzone Auto). Savings and investment products include savings accounts, term deposits (Lokaty), and currency deposits (Lokaty walutowe). The bank differentiates through digital-first services including VeloKantor for currency exchange, Usługa wielowalutowa for multi-currency card payments, and a comprehensive mobile banking application with behavioral security analysis. Loyalty programs VeloKorzyści and VeloChwile enhance customer retention, while insurance products Pakiet Niezawodny and Pakiet Ochrona Karty provide protection services. VeloBank also serves corporate clients through its MŚP i korporacje segment, offers brokerage services through Biuro Maklerskie, and provides VeloAPI for developer integration. The bank's recent acquisition of Citi Handlowy's retail operations (completed June 2026) significantly expanded its customer base and product portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• VeloKonto Personal Account Zero-fee personal checking account for individual retail customers, providing free domestic transfers, BLIK withdrawals, and mobile banking integration.
• VeloKonto Firma Business Account Business checking account designed for small businesses and micro-enterprises, offering transaction banking services and digital platform integration.
• Personal Cash Loan (Pożyczka gotówkowa / VeloZadaniowa) Personal cash loan for individual customers from 500 to 300,000 PLN with terms up to 10 years and representative APR of 8.4%.
• Mortgage Loan (Kredyt hipoteczny) Property financing mortgage loan targeting customers seeking long-term home financing, with representative APR of 6.57%.
• Consolidation Loan (Kredyt konsolidacyjny) Debt consolidation loan with representative APR of 8.1%, allowing customers to combine multiple debts into a single simplified loan.
• Auto Loan (Kredyt samochodowy Wymarzone Auto) Vehicle financing loan offering funds deposited to account with 60 days to select a car, representative APR of 14.7%.
• VeloFotka Photo Loan Photo-based instant credit product enabling purchases with 0% APR option, designed for quick point-of-sale installment financing.
• Flexible Savings Account (Elastyczne Konto Oszczędnościowe) Flexible savings account offering competitive interest rates for deposit accumulation with easy access to funds.
• Lokata na Nowe Środki (New Funds Term Deposit) Term deposit product designed for new funds, offering enhanced interest rates to attract new customers.
• Lokaty Walutowe (Currency Term Deposits) Currency-denominated term deposits in USD and EUR with terms of 3, 6, or 12 months, minimum deposit 100 USD/EUR.
• VeloKantor Currency Exchange Currency exchange service with ability to set expected exchange rates, make international transfers 24/7, and execute card transfers.
• Multi-Currency Service (Usługa wielowalutowa) Multi-currency service allowing customers to link 10 currency accounts (EUR, USD, GBP, CHF, NOK, SEK, DKK, CZK, HUF, JPY) to a single debit card with no conversion fees.
• VeloBank Mobile Banking App Mobile banking application for iOS and Android, offering account management, balance checking, dark mode support, BLIK payments, and mObywatel identity verification integration.
• Biuro Maklerskie (Brokerage Services) Brokerage service providing securities trading and investment account management for capital markets investments.
• Pakiet Niezawodny Insurance Package Insurance package providing medical assistance, home assistance, and emergency services (plumber, locksmith). Priced at 6 PLN monthly with first 6 months free.
• Pakiet Ochrona Karty Card Protection Insurance Card protection insurance for 3 PLN monthly covering unauthorized card use, lost cash, damaged purchases, personal items, and personal liability.
• Premium Banking (Bankowość Premium) Premium banking service tier targeting affluent customers with enhanced services and dedicated support.
• Private Banking Private banking services for high-net-worth individuals, offering wealth management and personalized financial advisory services.

Quantifiable outcome

• Over 55,000 tree plantings through VeloLas environmental program
• +1 more outcomes

Named customers1 record

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature8 records

Partnerships

17 partnerships are on record, tiered minor and core.

• Greenberg TraurigminorOthersInternational law firm representing VeloBank and its shareholders including Cerberus-affiliated funds in the Citi Handlowy acquisition.
• Cleary Gottlieb Steen & HamiltonminorOthersInternational law firm providing legal advice to Cerberus Capital Management in the Citi Handlowy acquisition transaction.
• Rymarz Zdort MarutaminorOthersPolish law firm advising BHW (another party) in the Citi Handlowy consumer banking acquisition.
• Bank Handlowy w WarszawieminorOthersCitibank subsidiary through which Citigroup completed the sale of its Polish consumer banking business to VeloBank.
• Fundacja Las Na Zawsze (Forest Foundation)coreStrategic or Co-development PartnerEnvironmental foundation partnered with VeloBank for the VeloLas program - forest planting and protection initiative. Includes new plantings in Raszujka (Mazovia) and protection of mature forest in Bochotnica (Lublin region). Over 55,000 trees planted since 2023.
• BLIKcoreTechnology or IntegrationPolish mobile payment system enabling cash withdrawals and cardless payments, integrated into VeloBank's mobile banking platform at no additional cost.
• mObywatelcoreTechnology or IntegrationPolish government mobile application used for identity verification in account opening and password reset processes.
• Planet CashminorChannel Partner/ Reseller/ DistributorATM network provider offering free cash withdrawals for VeloBank customers at Planet Cash ATMs across Poland and the European Union.
• Towarzystwo Ubezpieczeń Europa S.A.coreStrategic or Co-development PartnerInsurance company providing Pakiet Niezawodny (personal assistance) and Pakiet Ochrona Karty (card protection) insurance products through VeloBank's bancassurance channel.
• Bank Gospodarstwa Krajowego (BGK)minorOthersPolish state-owned development bank that, in cooperation with National Bank of Ukraine, opened a special account for humanitarian donations to Ukraine which VeloBank customers can support via BLIK payments.
• UNIQA Towarzystwo UbezpieczeńminorStrategic or Co-development PartnerInsurance company partnered with VeloBank for life insurance products through agency agreement.
• Link4 Towarzystwo Ubezpieczeń S.A.minorStrategic or Co-development PartnerDirect insurance company partnered with VeloBank for non-life insurance products through agency agreement.
• Open Life Towarzystwo Ubezpieczeń Życie S.A.minorStrategic or Co-development PartnerLife insurance company partnered with VeloBank for investment and protection products.
• Allianz PolskaminorStrategic or Co-development PartnerMajor insurance group with both life and non-life insurance operations partnered with VeloBank.
• PZU Życie S.A.minorStrategic or Co-development PartnerPoland's largest life insurer partnered with VeloBank for insurance distribution.
• WARTAminorStrategic or Co-development PartnerInsurance company with both life and non-life operations partnered with VeloBank for insurance products.
• VeloMarketminorChannel Partner/ Reseller/ DistributorOnline marketplace integrated with VeloBank where loyalty program customers receive 3% permanent discount on products.

Scale indicators6 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• mBank: Leading Polish challenger/digital bank serving retail and SME segments through mobile-first banking. Highly comparable as a competing scaled retail and business bank in Poland with overlapping digital-first positioning.
• ING Bank Śląski: Major Dutch-owned Polish retail and SME bank with strong digital channels and a similar affluent and mass-affluent customer mix. Direct competitor across retail accounts, mortgages, and SME lending in Poland.
• Alior Bank: Polish digital-first challenger bank serving retail and SME customers with mobile-led onboarding. Comparable positioning as a younger, digitally-led competitor against larger Polish incumbents.
• Bank Millennium: Portuguese-owned Polish universal bank with strong retail and SME presence and an affluent/premium segment. Directly comparable as a competitor for retail deposits, mortgages, and premium banking customers.

Broad incumbents

• Credit Agricole Bank Polska: French-owned Polish retail and SME bank offering accounts, loans, mortgages, and agri-business banking. Comparable as a foreign-controlled universal bank competing across the same product categories.
• Santander Bank Polska: Major universal bank in Poland owned by Santander Group, competing directly across retail, SME, mortgage, and private banking. Comparable as a scaled full-service competitor in the same geography.
• Bank Pekao: One of Poland's largest universal banks with broad retail, SME, corporate, and private banking coverage. Comparable as a top-tier incumbent with overlapping products including premium banking and brokerage.
• PKO Bank Polski: Poland's largest bank by assets and customer base, offering retail, SME, corporate, and mortgage products nationwide. Directly comparable in scale and product breadth to post-acquisition VeloBank.
• BNP Paribas Bank Polska: Universal bank in Poland owned by BNP Paribas, serving retail, SME, and corporate customers. Overlapping product suite including retail accounts, mortgages, and wealth services.

Others

• Citi Handlowy (post-divestiture corporate bank): Remaining corporate and investment banking arm of the former Citi Handlowy after VeloBank acquired the consumer business. Adjacent competitor in corporate banking, treasury, and capital markets while sharing customer handoff dynamics.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/VeloBankSpolkaAkcyjna
• LinkedInlinkedin.com/company/velo-bank-s-a-

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VeloBank