Citadele Bank

30’599 Clients of Latvijas Krājbanka Have Received the State Guaranteed Compensation in Latvia

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From 29 November morning until 17:00 2 December State guaranteed compensation in Latvia was paid to 30’599 clients of Latvijas Krājbanka for the total amount of 137,2 million Lats. 89% of this sum was disbursed via wire transfer to clients’ bank accounts.

As announced previously, on 29 November the Citadele Bank started pay-out of the state-guaranteed reimbursement to the depositors of AS “Latvijas Krājbanka” in Latvia.

Money can be received in person in the branch offices of Citadele Bank in Latvia or via Citadele online banking. Clients can receive the money in the account of Citadele or another bank, or to receive it in cash.

If one wishes to receive sums that exceed 500 Lats in cash, he or she must apply for it at Citadele in advance because the Bank does not keep large amounts of cash stored at one location due to safety reasons.

In order to avoid standing in queues, Citadele Bank would like to encourage making an appointment for the visit beforehand on Citadele’s website at or by calling Citadele’s Customer Support Centre 24/7 hotline at + 371 67010000 or 1188.

In order to ensure safety for clients, State Police are on duty at all branch offices of Citadele. For the purpose of providing prompt and convenient attendance for existing clients of Citadele who do not have deposits with Latvijas Krājbanka as well as clients of Latvijas Krājbanka, Citadele Bank service people who have registered their appointment on the internet beforehand separately from the ones who arrive without prior registration; clients of Citadele Bank who have no deposits with Latvijas Krājbanka are attended separately as well.

The funds to be disbursed to clients of Latvijas Krājbanka are guaranteed by the State and these funds are supplied to Citadele from the State Deposit Guarantee Fund. This funding is held separately from Citadele’s balance. Therefore the compensation money does not depend on Citadele’s activity and vice versa – Citadele’s activity does not depend on these funds. The Bank serves as an instrument for ensuring disbursement of compensation to depositors.

In compliance with the Law on Deposit Guarantees, the state guarantees to reimburse the clients of “Latvijas Krājbanka” in the amount of 100 000 euro equivalent in lats or 70 280.40 lats. The state-guaranteed reimbursement concerns all types of funds – deposits, disbursement accounts, salary accounts, savings. The clients are entitled to receive the guaranteed reimbursement over the course of upcoming 60 years or even up to the year 2071.

Overall, money reimbursement is due to approximately 235 000 individuals and legal entities.

In compliance with the law, the state-guaranteed reimbursement can be received also by those clients of “Latvijas Krājbanka”, who are not residents of Latvia.

The clients, whose deposit amount in “Latvijas Krājbanka” exceed the established cap of 70 280.40, may file a creditor claim within the procedure of liquidation or insolvency procedure of “Latvijas Krājbanka”.

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