Full highlights

Group, EUR millions

	6m`23	6m`22	12M `22	12M `21
Net interest income	88.0	54.2	118.8	107.0
Net fee and commission income	21.0	21.5	37.6	34.1
Net financial and other income	4.7	1.1	11.7	8.6
Operating income	113.7	76.8	168.2	149.7
Operating expense	(48.9)	(44.9)	(91.6)	(84.1)
Net credit losses and impairments	3.8	(12.8)	(23.8)	(1.6)
Net profit from continuous operations (after tax)	64.5	18.9	50.8	62.2
Return on average assets (ROA)	2.51%	0.75%	1.00%	1.33%
Return on average equity (ROE)	29.2%	9.5%	12.4%	16.8%
Cost to income ratio (CIR)	43.0%	58.4%	54.45%	56.19%
Cost of risk ratio (COR)	(0.2%)	0.9%	0.8%	0.1%

*Only continuous operations shown. Comparatives are restated 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 figures for 2022 have been restated due to the adoption of IFRS 17, earlier comparative figures are not restated for IFRS 17.

Group, EUR millions

	30 Jun 2023	31 Dec 2022	31 Dec 2021	31 Dec 2020	31 Dec 2019
Total assets	4,884	5,405	5,055	4,597	3,743
Loans to public	2,927	2,966	2,702	1,541	1,568
Deposits and borrowings from customers	3,872	4,026	3,814	3,671	3,290
Shareholders' equity	465	420	397	344	341
Loan-to-deposit ratio	76%	74%	73%	42%	48%

Key figures and events of the Group

In H1 2023, Citadele issued EUR 429 million in new financing to support Baltic private, SME and corporate customers; EUR 239 million were disbursed to such customers in Q2 2023.
Citadele’s deposit base remained stable at EUR 3 872 million as of 30 June 2023.
On the back of attractive digital solutions and services, Citadele’s active customers reached 374 thousand active clients as of 30 June 2023, a 2% growth year over year.
Citadele’s Baltic operations net profit for H1 2023 reached EUR 64.5 million, representing 29.2% return on equity and C/I of 43.0%; Q2 2023 Baltic operations net profit reached EUR 38.5 million, representing return on equity of 33.8% and C/I of 40.8%.
Asset quality improved with NPL of 2.4% and positive CoR on the back of credit loss reversals. The Bank continues to operate with more than adequate capital and liquidity ratios. Group’s CAR (including net result for the period) was 22.5%, CET1 20.0% and LCR of 182% as of 30 June 2023.
The focus on customer services and digital solutions resulted in continued strong Retail NPS results of 43% in Latvia and 41% in Lithuania. As of 30 June 2023, Citadele had 1,329 full time employees.