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Investor relations

Full highlights

Group, EUR millions

  Q1`23* Q4`22* Q1`22*   12M `22* 12M `21*
Net interest income 40.5 35.9 27.5   118.8 107.0
Net fee and commission income 8.2 7.3 10.3   37.6 34.1
Net financial and other income 3.3 3.2. 0.0   11.7 8.6
Operating income 52.0 46.6 37.9   168.2 149.7
Operating expense (23.7) (24.0) (20.8)   (91.6) (84.1)
Net credit losses and impairments (1.3) (8.8) (6.1)   (23.8) (1.6)
Net profit from continuous operations (after tax) 26.0 13.3 10.6   50.8 62.2
Return on average assets (ROA) 1.76% 1.05% 0.79%   1.00% 1.33%
Return on average equity (ROE) 21.5% 12.9% 10.1%   12.4% 16.8%
Cost to income ratio (CIR) 45.6% 51.8% 55.1%   54.45% 56.19%
Cost of risk ratio (COR) 0.2% 1.2% 0.9%   0.8% 0.1%

*Only continuous operations shown. Comparatives represented for discontinued operations of Kaleido Privatbank AG (Swiss subsidiary bank of the Group) which is committed for sale and thus excluded from the presented key figures. Comparative figure (Q1`2022) have been restated due to the adoption of IFRS 17

Group, EUR millions

  31 Mar 2023 31 Dec 2022   31 Dec 2021 31 Dec 2020 31 Dec 2019
Total assets 5,169 5,404   5,055 4,597 3,743
Loans to public 2,918 2,966   2,702 1,541 1,568
Deposits and borrowings from customers 3,938 4,026   3,814 3,671 3,290
Shareholders' equity 445 420   397 344 341
Loan-to-deposit ratio 74% 74%   73% 42% 48%

 

Key figures and events of the Group

  • Strong start of the year. Q1 2023 Operating income (Baltics) reached EUR 52 million, 37% growth year over year. Profit before impairment (Baltics) in Q1 2023 was EUR 28 million, as compared to EUR 17 million in Q1 2022.
  • In Q1 2023, the bank issued EUR 190 million in new financing to support Baltic private, SME and corporate customers.
  • The European Central Bank (ECB) has concluded the Asset Quality Review (AQR) of Citadele. The result of ECB's exercise highlights the quality of Citadele’s asset base and risk underwriting. CET1 ratio postAQR is 16.03% (pre-AQR ratio being 16.31%).
  • On the back of attractive digital solutions and services the bank’s active customers reached an all-time high of 374.4 thousand active clients as of 31 March 2023, 3% growth year over year.
  • The deposit base remained stable and Baltic deposits constituted EUR 3,854 million as of 31 March 2023, or 98% from total deposits.
  • Volatility in global markets has not been felt in the Baltics. The Bank continues to operate on the back of more than adequate capital and liquidity ratios. Group’s CAR, (including period’s result, excluding EUR 20.0 million proposed dividends) was 20.7% and LCR of 169% as of 31 March 2023. As of 31 March 2023, Citadele had 1,352 full time employees.