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Report: Volkswagen Bank Polska winds down retail ops

Volkswagen Bank Polska SA stopped providing retail banking services for individuals, with accounts of this type closed from Nov. 30, Rzeczpospolita reported the same day.

The bank decided to change its business model in August, saying at the time that it would focus only on the provision of services for corporate clients and the employees of Volkswagen Group in Poland. The decision to withdraw from the retail banking segment was taken as the lender was preparing to merge with Germany-based Volkswagen Bank GmbH and change its legal form, it said in its August filing.