Full highlights

Group, EUR millions

  Q3`22* Q2`22* Q3`21*   9M `22* 9M `21*
Net interest income 28.9 26.6 27.5   82.9 79.9
Net fee and commission income 8.9 11.1 9.4   30.3 25.1
Net financial and other income 4.2 2.6 1.8   8.5 7.5
Operating income 42.1 40.3 38.7   121.8 112.5
Operating expense (22.7 (24.0) (20.1)   (67.6) (61.1)
Net credit losses and impairments (2.3) (6.6) (3.8)   (15.0) (0.1)
Net profit from continuous operations (after tax) 16.7 9.3 14.6   38.1 50.0
Return on average assets (ROA) 1.31% 0.75% 1.20%   1.00% 1.40%
Return on average equity (ROE) 16.4% 9.2% 15.3%   12.6% 18.2%
Cost to income ratio (CIR) 53.9% 59.6% 51.9%   55.5% 54.3%
Cost of risk ratio (COR) 0.3% 0.9% 1.1%   0.7% (0.0%)

*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 Sept 2022 30 June 2022   31 Dec 2021 31 Dec 2020 31 Dec 2019
Total assets 5,157 5,062   5,055 4,597 3,743
Loans to public 2,996 2,895   2,702 1,541 1,568
Deposits and borrowings from customers 3,765 3,683   3,814 3,671 3,290
Shareholders' equity 412 402   397 344 341
Loan-to-deposit ratio 80% 79%   71% 42% 48%

 

Key figures and events of the Group

  • Strong financial performance with a record high income in both Q3 and 9 months 2022. In 9 months, 2022 Operating income (Baltics) reached EUR 121.8 million, 8% growth year over year. Q3 operating income was EUR 42.1 million, 9% growth year over year.
  • Baltic operations profit before impairment was EUR 54.2 million in the first 9 months of 2022, 5% higher than in the same period last year. Profit before impairment in Q3 reached EUR 19.4 million, 20% growth quarter over quarter.
  • Given the increased uncertainty in macroeconomics the bank continued to take a more conservative approach and has also recognized net credit losses in amount of EUR 15.0 million in 9 months 2022 (EUR 2.3 million in Q3). Baltic operations net profit reached EUR 38.1 million in 9 months 2022, which translated into 12.6% return on equity. Q3 net profit was EUR 16.7 million, translating into 16.4% return on equity.
  • On the back of attractive digital solutions and services the bank’s active customers reached an alltime high of 373 thousand active clients as of 30 September 2022, 4% growth y-o-y. In 9 months 2022, the bank issued EUR 972 million in new financing to support Baltic private, SME and corporate customers. EUR 326 million were disbursed in Q3.
  • The deposit base remained stable and Baltic deposits constituted EUR 3,666 million as of 30 September 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 18.1% and LCR of 167% as of 30 September 2022. As of 30 September 2022, Citadele had 1,381 full time employees.