Assets of Swiss bank AP Anlage & Privatbank AG, a subsidiary of bank Citadele, (incl. managed assets) have grown by approximately 10% this year. At the same time, gross income of the bank for first 9 months of this year builds up to CHF 3 million and its profit before taxes amounts to CHF 700 thousand.
Valery Hudorozhkov, deputy Managing Director of AP Anlage & Privatbank AG, points out that this year is successful for the bank: “We have acquired many new clients and extended our activity this year. Financial results can also be regarded as good since interest rates are low in Swiss market after the financial crisis. AP Anlage und Privatbank AG will continue to put its best efforts into ensuring its contribution to achievement of Citadele group’s aims to the extent possible.”
On 29 October 2010, implementation of changes in shareholder structure of AP Anlage & Privatbank was completed. Introduction of these changes was already anticipated in Parex banka’s restructuring plan. Along with these changes, bank Citadele became an owner of 100% of the bank’s shares. Permit for change of shareholders was issued by FINMA, Swiss Financial Market Supervisory Authority, on 24 September this year. Presently, AP Anlage& Privatbank AG assumes an important role in Citadele group’s private equity management segment.
The Swiss bank attends accounts and payment cards of its clients and provides deposit, trust and investment services.
About bank Citadele
Bank Citadele has been established with a view to inspire people and businesses for development and facilitate growth of the region. The Bank provides excellent client service and a variety of services for individuals, businesses and wealth management clients. Bank Citadele is the exclusive partner of American Express® in Latvia and Lithuania entitled to issue American Express credit cards. 75% of the Bank’s shares are held by Privatization Agency, while the European Bank for Reconstruction and Development (EBRD) owns 25% plus one voting share. The total assets of the Bank reach LVL 1.5 billion. Moody’s has assigned the Bank long term rating Ba3.