Citadele Bank

“Euromoney” declares Citadele’s transformation to be the best in the Central and Eastern European banking sector

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In the 2016 survey "Euromoney Awards of Excellence” by prestigious magazine “Euromoney,” Citadele was declared “Central and Eastern Europe’s Best Bank Transformation.” On Wednesday, “Euromoney” welcomed 600 bankers from around the world in a ceremony which took place in the Tower of London.

“Restructured, recapitalised and renewed – Citadele can no longer be seen as the unsuccessful lender which was left over after the influential collapse of Parex. Citadele is now in a good place from which to serve Latvia’s economic recovery,” said a statement by the magazine.

Citadele chairman of the board Guntis Beļavskis: “In the six years since the bank’s restructuring, by improving results we have given over a billion euro in new credit to the Baltic economy. We have indirectly created hundreds of new jobs in businesses to whom we have given development opportunities. This highest level of recognition confirms the professionalism of our employees and shareholders. It is also recognition of the high business ideals that we work with and shows that we are on the right path. We want Citadele to become the first answer that comes to mind when asked: what is the best bank in the Baltics for citizens and small- and medium-sized businesses.”

The “Euromoney Awards of Excellence” were begun in 1992, and this year’s awards ceremony marks its 25th year. The “Euromoney” jury is composed of journalists, editors and an experienced team of researchers who undertake extensive research of the banking and capital market. Prizes for excellence are awarded to banks from several regions with research taking into account 100 countries from around the globe.


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