Citadele Bank

ECB AQR results confirms Citadele’s solid asset quality, capitalization and risk governance

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The European Central Bank (ECB) has concluded the Asset Quality Review (AQR) of  Citadele Bank. The results of ECB's exercise highlights the quality of Citadele Bank's asset base and risk underwriting.

In line with current practice, all banks that become subject to the ECB’s direct supervision undergo an AQR and stress testing (Citadele Bank currently is participating in ECB ST 2023) and the results of those two exercises are published independently. The review was conducted using the latest version of the AQR methodology and determine whether a bank needs to strengthen its capital base.

CET1 ratio post-AQR is 16.03% (pre-AQR ratio being 16.31%).  A bank’s CET1 ratio is a key measure of its financial soundness.

"The direct supervision by the ECB and its assessments means additional stability for Citadele and its customers in this challenging time. A good capital quality assessment shows the health of the bank's loan portfolio, which is especially important during economic turmoil. Thanks to the positive evaluation, we will be able to leverage our strong financial position for the benefit of our customers," says Johan Akerblom (Johan Åkerblom), CEO of Citadele Bank.

ECB published the results from Asset Quality Review on 31 March and it is available here.

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