as you have already been informed, on the 5th of July, 2018 the Board of Citadele Group made a decision to transform its activities in Lithuania by merging AB “Citadele” bankas with AS “Citadele banka” in Latvia.
This action was taken in order to speed up an introduction of new-generation digital banking services for our clients and to increase the client service efficiency. Shortly we will present some novelties which will undoubtedly be of benefit for you.
On completion of the merger, all assets, liabilities and rights held by AB “Citadele” bankas will be transferred to AS “Citadele banka” and the bank will continue operations in Lithuania as AS “Citadele banka“ Lithuanian Branch. The merger will not affect daily operations of the bank, and all transactions will be performed as usual.
It is estimated that the merger will be completed on the 1st of January, 2019. Therefore, we are presenting for your attention the new rules for the provision of services of AS “Citadele banka“ Lithuanian Branch and the service rates which will take effect on the 1st of January, 2019, however, no earlier than on completion of the merger. We will inform you additionally if the merger is not completed as of the said date.
At the same time, we wish to inform you that we have re-assessed the relevance and benefits of our services and products. You will shortly receive a personal message about possible changes and improvements to the services and products used by you.
Regarding Deposit and Investment Insurance
Please note that deposits and investments of our clients are secure. On completion of the merger, deposits and investments of the clients of AS “Citadele banka“ Lithuanian Branch will be insured in the Republic of Latvia in accordance with the Republic of Latvia Law on Deposit Insurance. Deposit insurance will be administered by the Commission on Finances and Capital Market (Kungu iela 1, Riga, LV-1050, tel. +371 6777 4800, www.fktk.lv). Deposit protection will remain unchanged, i. e. a EUR 100,000 guarantee per depositor per credit institution. The liability to an investor will be insured at EUR 20,000.
Changes to the List of Correspondent Banks
The List of Correspondent Banks will be changed from the 3rd of December, 2018. AS “Citadele banka” will become the main correspondent bank. You can view the new list here.
If you have any questions please call us on 19091 or +370 5 221 9091 if calling from abroad.
Thank you for using our services!