In the nine months of 2018, “Citadele” bankas had stable growth in all business areas. On 30 September 2018, net loan portfolio of “Citadele” bankas was EUR 263.7 million, 4.7% increase over the same period in 2017. Corporate loan portfolio amounted to EUR 166.3 million, 6% more compared to 2017. Over the first three quarters of 2018, “Citadele” bankas issued EUR 13.9 million in consumer loans, which is 46% more than in the first nine months of 2017.
“Over first three quarters of 2018 we maintained the stable tendency of consistent improvement of our main business indicators. It shows that we have chosen the right strategy,” says Jūratė Jazukevičienė, Chairwoman of the Board and Head of Administration of “Citadele” bankas in Lithuania.
Over the first nine months of 2018 the bank’s net income from commissions and interest payments increased by 13% and reached EUR 11.6 million. Deposits amounted to EUR 414 million, a 2.8% decrease compared to year end. Over the first three quarters of 2018, “Citadele” bankas in Lithuania earned EUR 3.1 million in net profit.
Results of Citadele Group
In the nine months of 2018, Citadele Group continued to expand in its core business segments in the Baltic region. The Group’s net profit for the first nine months of 2018 was EUR 24.7 million. Capital adequacy ratio (CAR) was 18.3% as on 30 September 2018. The Group’s loan portfolio increase was driven by business activities in the retail segment and leasing portfolios, achieving 42 million growth year-on-year in the Group’s net loan portfolio. Group’s net loan portfolio reached EUR 1.37 billion on 30 September 2019. In the nine months of 2018, EUR 140.1 million of new loans were granted in the Baltic States by the Group. As of 30 September 2018, the Group’s customer deposits were EUR 2.6 billion.