AB “Citadele” bankas (Lithuania) legal status changed from subsidiary to branch

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Continuing the implementation of Citadele Group’s strategy to become the primary bank of choice in the Baltics, the reorganisation of AB “Citadele” bankas (Lithuania) has been completed as the bank continues its operations in Lithuania as the Lithuanian branch of AS “Citadele banka”.

Citadele Bank’s Chairman of the Management Board Guntis Beļavskis: “The reorganization of Citadele bankas in Lithuania is a big step towards creating a Baltic banking champion. It will enable the quicker introduction of new digital banking services to our Lithuanian customers, and the improvement of the Group’s operational efficiency”.  

Newly established branch of AS “Citadele banka” in Lithuania has taken over all assets and liabilities of AB “Citadele” bankas. From now on customers of branch of AS “Citadele banka” in Lithuania are able to use an improved mobile application with quick and easy authorization using biometrics and comprehensive card management. Other improvements will include a new online bank, with other developments to come.

About Citadele

Citadele Group’s shareholders are the European Bank for Reconstruction and Development and an international consortium of investors with global experience in the banking sector. 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, such a contactless payments with wearables and gadgets: wristbands, stickers and phones. In 2018, one of the leading customer service evaluation and improvement companies in Central and Eastern Europe, Dive, acknowledged Citadele as the bank with the best customer service in Latvia and Lithuania.