Citadele Bank (Latvia)

Important Information for Citadele Clients

Published on

  • It may be possible to receive breaks on loan repayments for 3 months
  • Since the beginning of last week, Citadele has been in discussions with affected businesses to assess each situation individually
  • Seniors are encouraged to pay bills by phone

Due to the state of emergency in Latvia, workers in many industries have lost their jobs or cannot predict their income over the next few months. In response to our concerned clients who understand that they may not be able to fulfil their loan obligations, Citadele is offering its clients who are in this situation and have previously fulfilled their loan obligations responsibly the opportunity to receive a break on their base loan repayment for 3 months or up to 6 months, with each case being assessed individually. This applies to mortgages, consumer loans and leasing.

To ensure that the group at the highest risk for the virus—seniors—can access all services remotely, Citadele is introducing a lower commission fee on making payments by phone which is significantly lower than the fee for this service in person.  

Breaks on loan repayments

This situation has been unexpected worldwide, and we hope it will be short term, but in any case, we are coming to the aid of our clients and will continue to do so. Citadele clients can now apply to suspend their loan repayments for three months. To apply for a break on loan repayments, private customers are asked to contact the client support centre by phone at 6701 0000. Suspended payments apply to the base repayment sum, and interest must still be paid. Later, if the situation does not improve, we will continue to assess each request individually.

Seniors are invited to pay their bills by phone

Although anyone can fall ill with COVID-19, serious consequences are faced by older patients and those with lower immunity and chronic illnesses. As it is often our elderly clients who pay their utility bills in our branches, we have found a solution to protect the elderly from the risk of infection. During the state of emergency, the payment of one bill by phone will cost just 0.38 EUR.

To use this service, call the client support centre at 6701 0000. We remind everybody else that bills can be paid quickly, conveniently and simply on the online bank or app, where instant payments are available 24 hours a day—for situations when a transfer cannot wait.

Individual approach for business support

In anticipation of the further development of the situation, Citadele has been in discussions with impacted businesses since the start of last week. Each business is evaluated on a case-by-case basis to assess the financial situation and, if necessary, decide together on lower loan repayments, helping people to maintain their business in these difficult market conditions.

Bearing in mind that the government has promised additional funding to reduce the impact of Covid-19 on the economy, we are currently awaiting more detailed information on helping our clients using the ALTUM Development Finance Institution, with whose help we could, for example, restructure loans.

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