Citadele Bank

By the 5th of March, state-guaranteed compensation was paid to 901 ABLV Bank clients at a total of 13.7 million Euro

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From Saturday, March 3rd, to today, March 5th at 15:00, Citadele bank paid out state-guaranteed compensation to 901 ABLV Bank client, disbursing a total of 13.7 million Euro.

With the new work week, client activity has increased. Therefore for clients’ convenience we invite both private and legal persons to book an appointment in advance at the bank by calling our 24-hour phone line at +371 67010076 or by applying on the Citadele website.

On Saturday and Sunday, mainly local Latvian residents came to Citadele for their state-guaranteed compensation. Meanwhile, with the new work week, legal persons and international clients are applying more actively for appointments at the bank.

We remind those clients who have Citadele online banking that they can apply through Citadele’s online bank, and they do not need to visit a branch. Likewise, Latvian residents and legal persons can apply to open a Citadele account at any of the 30 Citadele branches throughout Latvia before applying for state-guaranteed compensation using the online bank.

Meanwhile, four branches in Riga and one in Jurmala are providing payment of state-guaranteed compensation to Latvian residents and legal persons: "Citadele" (Riga, Republikas laukums 2A), KAC "Skanste" (Riga, Skanstes iela 50), KAC  "Mols" (Riga, Krasta iela 46), "Laimdota" (Riga, Kr. Barona iela 20 – 1), and the Jūrmala branch (Jūrmala, Jomas iela 30).

In turn, international clients can receive their state-guaranteed compensation at the “Citadele” branch (Riga, Republikas laukums 2A.) International clients are also invited to book an appointment at the bank by calling the 24-hour phone line at +371 67010076, or on the Citadele homepage

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

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.

State-guaranteed compensation can be obtained within five years - up to the 3rd of March 2023.

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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