The Citadele Bank has been nominated as one of the 100 best companies in Europe by the European Business Awards competition, also being nominated as one of the top 10 companies in the category “The Infosys Business of the Year Award,” which is awarded to companies with revenues between EUR 26 and 160 million for rapid business growth, good financial results and innovations.
Accordingly, Citadele is one of the best 100 companies in Europe, receiving the European Business Awards “Ruban d’Honneur” status and being a participant in the next round of the competition.
For the past two months, a special jury of European business leaders, academics and businesspeople have evaluated 200 companies to select the best 100 ones. All of them received the “Ruban d’Honneur” status on the basis of business achievements, operational dynamics, purposefulness and ethical standards. More than 600 companies from 28 countries took part in the European Business Awards in all. The competition has three rounds, and Citadele’s results were good enough to pass through the first three rounds and be one of the enterprises in the finals.
The recipients of the “Ruban d’Honneur” status will present their companies’ achievements in front of the international jury in Germany. This will be the final round of the competition, and only the best companies from 28 countries will take part. The final results will be determined in April, when an awards ceremony will be held to announce the winners in 10 different categories.
Citadele board chairman Guntis Beļavskis: “We will tell the jury about our bank’s growth and basic areas of business, also discussing the innovative products which we have developed – ones which are unique in the Baltic market and which have allowed Citadele to hold a key position in the financial market. We are locally owned and can take decisions in Rīga. That allows us to react quickly to the market situation, client needs and shifting market circumstances so as to offer new products. We will make sure that in future, too, our clients will receive products that satisfy their needs and are innovative in the market.”
This year, for the first time, participants in the second round had to submit a video to represent their company. The videos were presented on the European Business Awards homepage, allowing people to vote for their favorites so as to determine the national champion. Other champions were selected by the international jury, and Citadele was declared to be one of the five Latvian champions in the second round.
European Business Awards executive director Adrian Tripp: “The videos allowed the jury to gain an in-depth understanding of the business strategy of participants, also helping it to take clear and conscious decisions about the achievements of companies in each category. The interviews this spring will allow us to learn even more about the goals and attitudes of the companies so that the jury can announce the winners.”
More than 35,000 people cast votes over the course of six weeks for their favorite company. 100,000 unique hits were received on the competition homepage. The European Business Awards have been presented since 2007 to emphasize good achievements and innovative and ethical business operations.
About Citadele Bank
Citadele is a local Latvian bank which offers banking, financial and asset management services. Citadele group is represented in the Latvian market as well as in 9 other countries. Citadele Bank is the only collaboration partner of American Express in Latvia and Lithuania who is entitled to issue American Express credit cards. In 2012 the bank was recognized as the best governed state-owned enterprise in the Baltic States according to a study conducted by the Baltic Institute of Corporate Governance. Citadele’s vision is to become the most valuable local financial group in the Baltic States. 75% minus one Citadele Bank’s shares are possessed by the State Joint Stock Company Privatization agency on behalf of the Latvian State and the owner of 25% plus one share is the European Bank for Reconstruction and Development (EBRD).