GDANSK, Aug 30 (Reuters) - Poland's Citi Handlowy

reported a 36% year-on-year fall in second-quarter net

profit on Friday, hampered by write-down for its retail banking

segment, as well as lower non-core revenues including trading of

financial instruments.

WHY IT'S IMPORTANT

The Polish unit of Citigroup ( C/PN ) said it booked a 180

million zlotys write-down in the quarter, for valuation of the

retail segment due to an expected uptick in operating costs.

It, however, did not provide further details for reasons

behind the write-down that could impact the sale of its retail

arm.

CONTEXT

Citigroup ( C/PN ) in 2021 said it planned to exit retail segment in

Poland and thirteen other countries. Citi Handlowy was to

continue operating in the segment and refrain from phasing it

out until the final transaction to sell the business, which has

been hanging in the air for over three years.

BY THE NUMBERS

The company reported a net profit of 394.1 million zlotys

($102 million), with net interest income of 804.7 million

zlotys. Net fee and commission earnings edged up 4% to 147.8

million zlotys.

Its net loan book grew almost 6% from the beginning of the

year to 21.2 billion zlotys.

($1 = 3.8677 zlotys)

(Reporting by Mateusz Rabiega; Editing by Varun H K)