Citadele Bank

“Citadele” bankas observed stable growth of all business segments in the first half of 2018

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Over the first six months of 2018, “Citadele” bankas observed stable growth in all business areas. On 30 June 2018, net loan portfolio of “Citadele” bankas was EUR 265.1 million, 8.2% increase over the same period in 2017. Corporate loan portfolio amounted to EUR 168.3 million, 11.7% more compared to 2017. Over the first half of 2018, “Citadele” bankas issued EUR 8.9 million in consumer loans, which is 59% more than in the first half of 2017.

“Our main performance indicators have consistently improved over the first six months of 2018 and the growth in profits was positively impacted by activity in the lending to households,” says Jūratė Jazukevičienė, Chairwoman of the Board and Head of Administration of “Citadele” bankas in Lithuania.

Over the first six months of 2018 deposits in “Citadele” bankas decreased by 3% and on 30 June 2018 amounted to EUR 394 million. The bank’s net income from commissions and interest income increased by 15% and reached EUR 8.2 million. Over the first half of 2018, “Citadele” bankas in Lithuania earned EUR 1.6 million in net profit.

Results of Citadele Group

In the first half of 2018, Citadele Group continued to expand in its core business segments in the Baltic region with improved daily banking services for our customers. The Group’s net profit for the first half of 2018 was EUR 18.0 million, representing a 20% increase year-on-year. Capital adequacy ratio (CAR) was 18.0% as at 30 June 2018. The Group increased loans to corporate, SMEs and private individuals in all three Baltic States in the first half of 2018, achieving 3% growth year-on-year in the Group’s net loan portfolio reaching EUR 1.36 billion. In the first half of 2018, EUR 221 million of new loans were granted in the Baltic states by the Group. As of 30 June 2018, the Group’s customer deposits were EUR 2.65 billion.

About Citadele Group

Citadele Group is managed from Latvia, while its subsidiaries and branches operate in Latvia, Lithuania, Estonia and Switzerland. Citadele provides transactions and card payments, loans, deposits, investments, asset management and leasing services, as well as a range of exclusive, unique products. In 2017 one of the leading customer service evaluation and improvement companies in Central and Eastern Europe, Dive, acknowledged Citadele as the bank with the best customer service in Latvia and Lithuania. The mission of Citadele Group is to provide our clients with wide-ranging and best-in-class financial services, and to become the primary bank of choice for aspiring retail and small business customers across the Baltics.

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