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Citadele remains focused on building its presence across the Baltic countries and offering the best products and service
Emitents Citadele banka, AS (2138009Y59EAR7H1UO97)
Veids 2.2. Iekšējā informācija
Valoda EN
Statuss Publicēts
Datums 2019-11-22 16:00:15
Versijas komentārs


  • Further improvements and upgrades in the Bank’s range of digital products
  • Number of active customers reached 299 thousand clients
  • The Group’s net profit in 9 months 2019 was EUR 27.2 million
  • Total loan portfolio increased by EUR 118 million (8%) from the year end 2018, and reached EUR 1,514 million.
  • EUR 437 million issued in new loans to Baltic private, SME and corporate customers in 9 months 2019
  • Domestic deposits increased by EUR 415 million, or 16% growth year-to-date
  • Citadele was appointed to execute the payments of guaranteed compensation to the customers of AS "PNB Banka”

In Q3 2019 Citadele Group continued to demonstrate a strong financial performance by growing its customer base across all core business segments, improving its already high capital base, and showing improvements in the Group’s asset quality metrics.

Key activities during Q3 2019 have been focused on continued improvements and upgrades to the bank’s products, as well as ensuring the smooth process of handling guaranteed compensation to more than 38 thousand customers of AS "PNB Banka".

New opportunities for Citadele’s clients

To support small business customers and to give merchants the advantage of adapting to a dynamic entrepreneurial environment and receiving the most crucial financial service instantly, Citadele was the first bank in the Baltics to start offering business owners the opportunity to receive a card terminal or mobile POS directly in branch offices.

Aligning with customer expectations in terms of speed of the banking products, we have launched instant card issuance, whereby customers can get payment cards directly at the branch.

Taking the next step towards our goal of making personal financial management easier and simpler for our clients, P2P payments to mobile phone numbers for private persons was launched in partnership with the Bank of Latvia.

Continuous digital channel development and the convenience of existing remote services have resulted in increased customer activity. Since the beginning of the year, Mobile App users and Internet bank customers increased by 46% and 6%, respectively, reaching 117 thousand active Mobile App users and 182 thousand active Internet Bank customers.

At the same time, in order to ensure a personal approach to physical in-branch meetings, two new concept branches were opened in Q3 2019.

Focus on Baltic private and corporate customers

Citadele continued to increase its lending footprint in both retail and corporate banking sectors, and the total loan portfolio increased by EUR 118 million (8%) from the year end 2018, reflecting prudent lending standards and ambition to retain loan book quality. The loan portfolio was EUR 1,514 million as of 30 September 2019.

The main source of funding, customer deposits, grew by 16% vs year-end 2018, with growth coming from Baltic residents that increased by EUR 415 million year-to-date. As of 30 September 2019, total Group customer deposits were EUR 3,071 million.

The number of active customers increased by 18 thousand in Q3, and reached 299 thousand clients at the end of September 2019.

State guaranteed compensation pay-out 

The Financial and Capital Market Commission entrusted Citadele to execute the payments of guaranteed compensation to the customers of AS "PNB Banka". We have devoted a lot of effort to ensure the smooth pay-out process to more than 38 thousand customers of AS "PNB Banka", paying particular attention that clients’ visits to the branch were comfortable and the information provided was clear. As of 30 September 2019, EUR 204 million or 75% of total pay-outs were completed.

About Citadele

Citadele Group’s shareholders are an international consortium of investors with global experience in the banking sector and the European Bank for Reconstruction and Development. The Citadele Group is managed from Latvia with subsidiaries and branches in Latvia, Lithuania, Estonia and Switzerland. Citadele provides transactions and card payments, loans, deposits, investments, asset management and leasing services, as well as a range of exclusive and unique products. In 2019 one of the leading customer service evaluation and improvement companies in Central and Eastern Europe, Dive GROUP, acknowledged Citadele as the bank with the best customer service in Latvia, and second best in Lithuania.


Further information:


Kristīne Mennika

Head of Corporate communications

Phone: +371 26528533

E-mail: Kristine.Mennika@citadele.lv


Ilona Frīdmane

Head of Investor Relations

Telephone: +371 67010183

E-mail: IR@citadele.lv


Mihails Goļevs

Head of Financial Institutions Division

Phone: +371 6 777 8585



Citadele_Q3_2019_EN.pdf (1817.27 kB)