|Emitents||Citadele banka, AS (2138009Y59EAR7H1UO97)|
|Veids||2.2. Iekšējā informācija|
Business activity in the market continues to increase and situation in global economy is improving. Citadele has seen a strong start of the year being able to support the bank’s customers with record high lending and achieving strong financial results in Q1 2021.
Stable client base
Active customers reached 347 thousand clients as of 31 March 2021, or 9% growth y-o-y. Mobile App users and Internet bank customers increased by 16% and 3% y-o-y, respectively, reaching 162 thousand active Mobile App users and 201 thousand active Internet Bank customers.
EUR 308 million issued in new financing to Baltic private, SME, corporate and leasing customers
New lending to our customers reached record high number of EUR 308 million in Q1 2021, twice higher than in the previous quarter.
The total loan book as of 31 March 2021 was EUR 2,474 million, 61% higher vs. year-end 2020. Portfolio growth was impacted by acquisition of SIA UniCredit Leasing (now SIA Citadele Leasing) at the beginning of year. Portfolio quality remained stable and the NPL ratio stood at 3.9% as of 31 March 2021.
Strong financial results
Business activity resumed in the first quarter of the year. Net profit in Q1 2021 reached EUR 10.5 million, as compared to EUR (7.5) million loss in Q1 2020 due to Covid-19 revised provisions reflecting macroeconomic expectations.
Citadele continues to operate with capital and liquidity ratios above regulatory requirements: CAR (including period’s result) of 18.0% and LCR of 214% as of 31 March 2021.
Customer deposits reached EUR 3,738 million as of 31 March 2021, slight increase of 2% compared to the end of 2020.
Citadele Acquires Mortgage Portfolio from ABLV Bank, AS in liquidation
Citadele has announced the acquisition of the majority of ABLV Bank, mortgage portfolio. The portfolio consists of several thousand mortgage loans with a total exposure above EUR 170 million. The planned completion date is in the second half of 2021. The acquisition will give additional positive financial impact from Q3 onwards.
About Citadele Bank
Citadele’s mission is to modernise the banking sector and offer more opportunities to clients and businesses throughout the Baltics.
Alongside traditional banking services, Citadele offers its clients a range of services based on next-generation financial technology, including, among other things, a modern mobile banking app, contactless and instant payments, modern client onboarding practices and technologically-enabled best-in-class customer service.
Citadele is the second largest bank in Latvia by assets. The Citadele Group is managed from Latvia. Its subsidiaries and branches operate in Latvia, Lithuania and Estonia.