Citadele delivered a solid financial performance in 9M 2026, generating EUR 169.2 million in operating income and EUR 63.4 million in net profit, with return on equity (ROE) of 14.3%.
- Citadele provided EUR 1.2 billion in new financing during the first nine months of the year, including EUR 446 million in Q3 2026, as customer activity remained strong, particularly among business and private customers.
- The loan portfolio grew to EUR 4.12 billion, increasing by 12% year-on-year and by 9% since year-end 2025.
- Credit quality remained sound, supported by customers’ stable financial standing. As of 30 September 2026, the non-performing gross loans ratio was 1.8%.
- Citadele maintained a strong capital position, enabling continued growth. As of 30 September 2026, the total capital adequacy ratio (CAR) was 20.9%, while the CET1 ratio reached 17.3%.
- As of 30 September 2026, the deposit base increased by 9% year-on-year to EUR 4.45 billion. The increase reflected an expanding customer base and growing interest in savings products.
- The Group maintained a sound liquidity position, with the liquidity coverage ratio (LCR) and net stable funding ratio (NSFR) at 168% and 136%, respectively.
- The active customer base grew to 416.9 thousand, with 88% of customers actively using digital channels, while customer satisfaction reached a record high.
“The third quarter was shaped by rising energy prices, higher interest rates and continued geopolitical uncertainty. In this environment, customers look for a financial partner they can rely on, and our priority remains clear: to support their plans with the right financial solutions and to keep developing services that are built around their needs and deliver tangible value Throughout the third quarter, private individuals, families and businesses across the Baltics continued to rely on us to finance their plans: new financing reached EUR 446 million, 7% more than in the previous quarter and 9% more than a year earlier. At the same time, we are building for the future - from launching our new business banking platform C Business and expanding our e-commerce solution Klix to strengthening our capital markets capabilities. What makes these achievements particularly meaningful is the trust of our customers. Reaching our highest-ever customer satisfaction confirms that our focus on customer experience is delivering results and gives us a strong foundation for continued growth,” says Rūta Ežerskienė, CEO and Chair of the Management Board at Citadele.
Innovations and Business Development
Citadele launched C Business, a next-generation platform that brings banking, financial information and additional services together in one place, helping businesses simplify financial management and reduce administrative burdens. The platform will continue to be expanded with new features and integrations.
Klix, Citadele’s e-commerce checkout solution, continued to gain momentum during the third quarter. As of 30 September, Klix had expanded its merchant network to 3.6 thousand active merchants. During the quarter, Klix processed 9.9 million transactions with a total value of EUR 430 million, 44% higher than in Q3 2025, reflecting continued adoption by customers and merchants across the Baltics.
Citadele also took an important step in expanding its capital markets capabilities, with Group company C Capital Markets securing an investment services licence from the Bank of Latvia. The licence enables the company to support businesses in raising capital through bond issuances and, where appropriate, initial public offerings (IPOs), broadening financing opportunities beyond traditional bank lending.
Client Base Growth, Service Excellence and Digital Engagement
As of 30 September 2026, Citadele's active customer base grew by 2.6% year-on-year to 416.9 thousand. Customer satisfaction reached a record high, with the Bank achieving its highest-ever Net Promoter Score (NPS) and over 90% of surveyed customers satisfied with its services. Digital engagement remained strong, with 87.9% of customers actively using digital channels during the first nine months of 2026.
Financial Performance
In the first nine months of 2026, Citadele delivered solid financial performance despite an uncertain economic and geopolitical environment. Operating income reached EUR 169.2 million, net profit totalled EUR 63.4 million and return on equity was 14.3%. In Q3 2026, operating income amounted to EUR 59.8 million and net profit to EUR 23.6 million, with ROE of 16.5% and a cost-to-income ratio of 48.8%.
As of 30 September 2026, the loan portfolio reached EUR 4.12 billion, growing 12% year-on-year and 9% since year-end 2025. New financing reached EUR 446 million in Q3 2026, 7% higher than in Q2 2026 and 9% higher than in Q3 2025. Over the first nine months of the year, Citadele provided EUR 1.2 billion in new financing to private, SME and corporate customers, including EUR 89.9 million in green and transition financing that supports the region’s sustainable development.
Asset quality remained sound, with the non-performing gross loans ratio at 1.8% as of 30 September 2026, compared with 1.7% at year-end 2025.
Net interest income increased by 4% to EUR 138.6 million in 9M 2026 from EUR 132.9 million in the same period of 2025, supported by continued loan portfolio growth. In Q3 2026, net interest income reached EUR 49.1 million, up 12% compared with Q3 2025. The net interest margin remained stable at 3.7% in 9M 2026, unchanged from 9M 2025, and rose to 3.9% in Q3 2026.
As of 30 September 2026, deposits reached EUR 4.45 billion, representing growth of 9% year-on-year and 3% compared with year-end 2025, providing a solid funding base for continued financing growth.
Citadele maintained a robust capital and liquidity position, with a total capital adequacy ratio of 20.9%, a CET1 ratio of 17.3%, an LCR of 168% and an NSFR of 136%.
With solid nine-month results and continued business momentum, Citadele remains well positioned to support customers and deliver sustainable long-term growth.
Key Figures – Baltic Operations
| EUR millions |
9M 2026 |
9M 2025 |
Q3 2026 |
Q3 2025 |
| Operating income |
169.2 |
167.0 |
59.8 |
55.6 |
| Operating expense |
(84.2) |
(79.6) |
(29.2) |
(27.2) |
| Net credit losses and impairments |
(6.6) |
(7.2) |
(1.4) |
(2.7) |
| Net profit from continuous operations (after tax) |
63.4 |
63.8 |
23.6 |
20.4 |
| Return on average assets (ROA) |
1.5% |
1.6% |
1.7% |
1.6% |
| Return on average equity (ROE) |
14.3% |
14.9% |
16.5% |
14.4% |
| Cost to income ratio (CIR) |
49.7% |
47.7% |
48.8% |
48.9% |
| Cost of risk ratio (COR) |
0.2% |
0.3% |
0.1% |
0.3% |
| |
30 Sep 2026 |
31 Dec 2025 |
| Loans, EUR bn |
4.1 |
3.8 |
| Deposits, EUR bn |
4.5 |
4.3 |
| Loan-to-deposit ratio |
93% |
87% |
| Common equity Tier 1 (CET1) capital ratio |
17.3% |
18.2% |
| Total capital adequacy ratio (CAR) |
20.9% |
22.3% |
| Non-performing loan (NPL) ratio |
1.8% |
1.7% |
| Liquidity coverage ratio (LCR) |
168% |
181% |
About Citadele Group
Citadele’s mission is to modernise the financial sector by offering a range of next-generation financial technology-based services alongside traditional banking products, serving both private individuals and entrepreneurs across the Baltics. Citadele holds a long-term deposit rating of A3 and a senior unsecured debt rating of Baa2, assigned by Moody’s on 21 April 2026, with a stable outlook. In 9M 2026, Citadele issued EUR 1.2 billion in new loans, with the total loan portfolio reaching EUR 4.1 billion and deposits growing to EUR 4.5 billion. Citadele Bank is the Group’s parent company in Latvia, and its subsidiaries and branches operate in Latvia, Lithuania and Estonia.