Citadele banka initiates review of strategic alternatives

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Over recent years Citadele banka (Citadele) has successfully developed into a modern Baltic banking platform by pursuing a strategy focused on leading digital solutions and best-in-class customer service. Citadele believes now is the right timing to explore strategic alternatives to maximize value for its shareholders and customers. As part of this strategic process, Citadele will consider all potential alternatives that can deliver value for the bank’s shareholders and customers. Such alternatives could include an initial public offering of its shares or other possible strategic transactions, including mergers and acquisitions.

Citadele has hired financial advisors to assist in its review of the strategic alternatives.

Citadele has not set a timetable for completion of its review. There can be no assurance regarding the results or outcome of Citadele’s review of strategic alternatives. Citadele undertakes no obligation to make any further announcements regarding the exploration of strategic alternatives.

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