By Elena Vardon

NatWest is planning to exit Poland by the end of 2025 and intends to transfer its financial crime operations to its hubs in the U.K. and India.

The British lender decided to exit the country after reviewing its operations there as it focuses on simplifying the business, a spokesperson said Thursday. "These decisions are not taken lightly, and we are committed to supporting all colleagues who are impacted," they added.

The bank employs around 1,600 people in the country, working on financial crime, technology, finance and risk. The decision to wind down was taken after the conclusion of a remediation project in financial crime--the unit in which two thirds of its Poland-based staff work--which was focused on improving its control environment.

NatWest will transfer 55% of the roles in Poland to its two other hubs.

Write to Elena Vardon at

(END) Dow Jones Newswires

06-20-24 0228ET