Full highlights

Group, EUR millions

  Q2`22* Q1`22* Q2`21*   H1 `22* H1 `21*
Net interest income 26.6 27.4 26.9   54.0 52.5
Net fee and commission income 11.1 10.3 8.2   21.4 15.7
Net financial and other income 2.6 1.7 3.8   4.3 5.7
Operating income 40.3 39.4 38.8   79.6 73.9
Operating expense (24.0) (20.8) (21.0)   (44.9) (41.0)
Net credit losses and impairments (6.6) (6.1) 6.9   (12.7) 3.8
Net profit from continuous operations (after tax) 9.3 12.2 23.4   21.4 35.4
Return on average assets (ROA) 0.75% 0.99% 2.09%   0.87% 1.56%
Return on average equity (ROE) 9.2% 12.2% 26.4%   10.7% 19.7%
Cost to income ratio (CIR) 59.6% 52.9% 54.0%   56.3% 55.5%
Cost of risk ratio (COR) 0.9% 0.9% (1.1%)   0.9% (0.4%)

*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. 

Group, EUR millions

  30 Jun 2022 31 Mar 2022   31 Dec 2021 31 Dec 2020 31 Dec 2019
Total assets 5,062 5,061   5,055 4,597 3,743
Loans to public 2,895 2,772   2,702 1,541 1,568
Deposits and borrowings from customers 3,683 3,676   3,814 3,671 3,290
Shareholders' equity 402 400   397 344 341
Loan-to-deposit ratio 79% 73%   71% 42% 48%

 

Key figures and events of the Group

  • Strong financial performance with a record high income in both Q2 and H1 2022. In H1 Operating income (Baltics) reached EUR 79.6 million, 8% growth year over year. Q2 operating income was EUR 40.3 million, 4% growth year over year.
  • Baltic operations profit before impairment was EUR 34.8 million in the first 6 months of 2022, 6% higher than in the same period last year. Profit before impairment in Q2 reached EUR 16.2 million.
  • Taking a prudent approach towards more uncertain macro-economic outlook, the bank has recognised net credit losses in amount of EUR (12.7) million in H1 2022 (EUR (6.6) million in Q2 2022). Baltic operations net profit reached EUR 21.4 million in H1 2022, which translated into 10.7% return on equity. Q2 net profit was EUR 9.3 million.
  • On the back of attractive digital solutions and services the bank’s active customers reached an all-time high of 368 thousand active clients as of 30 June 2022, 5% growth y-o-y.
  • In H1 2022, the bank issued EUR 646 million in new financing to support Baltic private, SME and corporate customers. EUR 349 million were disbursed in Q2 2022.
  • The deposit base remained stable and Baltic deposits constituted EUR 3,582 million as of 30 June 2022, or 97% from total deposits.
  • The Bank continues to operate on the back of adequate capital and liquidity ratios. Group’s CAR, transitional (including period’s result) was 18.0% and LCR of 167% as of 30 June 2022.
  • As of 30 June 2022, Citadele had 1,358 full time employees.