Clarification of the creditor request submission date in AB “Citadele” bankas (Lithuania) reorganisation

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On the 5th of July this year, the Citadele Bank (Latvia) Management Board made the final decision on the reorganisation of its subsidiary AB “Citadele” bankas (Lithuania), uniting it with AS “Citadele banka” (Latvia) and creating a branch in Lithuania.

We would like to inform you that, in accordance with Part (1) of Section 345 of the Commercial Law of the Republic of Latvia, depositors of AS “Citadele banka” have the right to submit a creditor request if it is proven that the reorganisation threatens the fulfilment of their claims. AS „Citadele banka” clarifies that requests can be submitted by the 25th August 2018 (not 20th August 2018) at Republikas laukums 2A, Riga, LV-1010.

The reorganisation is scheduled to be finished in the first half of 2019. During the reorganisation, a new AS “Citadele banka” branch will be opened in Lithuania, which will take over all assets and liabilities of AB “Citadele” bankas and oversee the functions and customer service of AB “Citadele” bankas.

The planned reorganisation in Lithuania will not in any way affect service to the bank’s clients. All will continue as usual.

Citadele Bank’s Chairman of the Management Board Guntis Beļavskis: “To put it simply, the reorganization of Citadele bankas in Lithuania means changing its legal status from subsidiary to branch.This decision was made to enable the introduction of new digital banking services to Lithuania more quickly and to improve the operational efficiency of the Group”.

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