Citadele Bank

A total of 21.4 million Euro in state-guaranteed compensation has been paid out to 1,440 ABLV Bank clients thus far

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In the first four days since Citadele bank began paying state-guaranteed compensation to ABLV Bank clients, in total, compensation has been paid to 1,440 ABLV Bank clients. The total sum paid out between the 3rd and 6th of March was 21.4 million Euro.

For clients’ convenience, both private and legal persons are invited to book an appointment at the bank through our 24-hour phone line at +371 67010076 or by applying through the Citadele website. Citadele’s employees will offer the most convenient available time and branch to receive compensation.

In general, the payment of state-guaranteed compensation is proceeding calmly. However, we ask clients to bear in mind that they may have to wait if they come to the bank without an appointment. The busiest time is around lunchtime, so we encourage clients to choose the afternoon, when there is less activity, for a bank appointment.

Of the five branches which are disbursing state-guaranteed payment, the busiest has been observed to be the “Mols” customer service centre, and the least busy has been the Jurmala branch. Therefore we ask clients to choose the Jurmala branch for their appointments when possible, or, if in Riga, the “Citadele” branch at Republikas laukums 2A or the “Laimdota” branch at Kr. Barona ielā 20-1.

Remember, those clients who use Citadele’s online bank can apply for state-guaranteed compensation through the Citadele online bank and do not need to go to a branch. Meanwhile, Latvian residents and legal persons can apply to open a Citadele account at any of Citadele’s 30 branches throughout Latvia before applying for state-guaranteed compensation through Citadele’s online bank. 

State-guaranteed compensation for Latvian residents and legal persons is being issued simultaneously at four branches in Riga and one in Jurmala: “Citadele” (Riga, Republikas laukums 2A), KAC "Skanste" (Riga, Skanstes iela 50), KAC "Mols" (Riga, Krasta iela 46), the "Laimdota" branch (Rīga, Kr. Barona iela 20 – 1), the Jurmala branch (Jūrmala, Jomas iela 30).

Meanwhile, international clients can claim their state-guaranteed compensation at the “Citadele” branch (Riga, Republikas laukums 2A). International clients are also requested to book an appointment at the bank in advance through our 24 hour phone line at +371 67010076 or on the Citadele website

As reported, Citadele has been providing state-guaranteed compensation to ABLV Bank clients since the 3rd of March.

State-guaranteed compensation can be claimed for the next five years - up to the 3rd of March 2023.

In accordance with the Deposit Guarantee law, ABLV Bank’s Latvian and international clients - private customers and legal persons - with deposits in ABLV Bank are eligible for state-guaranteed compensation. State-guaranteed compensation applies to all of a depositor’s funds - term deposits, current accounts, wage accounts, savings accounts, etc., (excluding financial instrument accounts).

Each depositor can receive compensation of up to 100,000 Euro - depending on how much was deposited in the specific client’s ABLV Bank accounts.

Those clients whose total deposit sum with ABLV Bank is more than the 100,000 Euro limit set by the Deposit Guarantee law can submit their claims as creditors as part of the ABLV Bank liquidation process.

In accordance with the contract with the Latvian Financial Capital Market Commission, compensation will only be paid in EUR, in one transaction.

State-guaranteed compensation can be paid by transfer to the client’s account at Citadele bank or any other bank.

For clients with deposits in ABLV Bank up to 1,000 Euro, compensation may also be paid in cash at the “Citadele” branch; however, Citadele encourages ABLV Bank depositors to collect their state-guaranteed compensation via transfer for security reasons.

Where to ask any questions

If you have any questions on where and when to receive compensation, anyone is welcome to contact Citadele 24 hours a day:

  • by calling Citadele’s Call Centre on its 24-hour number +371 67010076,
  • by writing through Citadele’s internet bank.

If you have any questions on the amount of compensation or recognising a person as a depositor, please contact the FCMC. By phone: 67774800, 67774801, 67774831. By email: Address: Kungu iela 1, Riga, LV-1050.

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