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As announced previously, on 5 July 2018, the Board of Citadele Group took the decision to restructure Bank’s operations in Lithuania by merging Citadele bankas AB with Latvia’s Citadele banka AS. After the merger, which is expected to be closed on 1 January 2019, all assets of Citadele bank AB along with its rights and obligations will pass to Citadele banka AS and the Bank will continue its operations in Lithuania as Citadele banka AS Lithuanian Branch.
We would like to note that deposits and investments of our customers are safe. After the merger, deposits and investments of Citadele Banka AS Lithuanian Branch customers will be insured in Latvia in accordance with the Law on Insurance of Deposits of the Republic of Latvia. Insurance of deposits will be administered by Finance and Capital Market Commission (Kungu iela 1, Riga, LV-1050, tel. +371 6777 4800, website: www.fktk.lv). Insurance coverage will remain the same, i.e. EUR 100,000 guarantee per depositor in one credit institution. Insurance obligations for an investor will be EUR 20,000.
Detailed information about terms and conditions of deposit insurance and the cases where deposits are not insured and limitations on payment of deposit insurance benefits apply is available here: Additional information for depositors
The changes to terms and conditions of deposit insurance will take effect on 1 January 2019, but not earlier than after the above merger is closed. If the merger is not closed on the above date, we will inform you additionally.
Our proposals for saving are always available at www.citadele.lt.
If you have any further questions, please call 19091 or +370 5 221 9091 (calls from abroad).