- Citadele delivered strong results in the first nine months of 2025, with EUR 167.0 million in operating income and EUR 63.8 million in profit from continuous operations. Robust profitability, resilient asset quality, and capital strength supported double-digit loan growth, with the loan portfolio reaching EUR 3.67 billion.
- Citadele delivered a solid financial performance in the first nine months of 2025, with operating income of EUR 167.0 million and net profit from continuous operations reaching EUR 63.8 million.
- The Group delivered resilient profitability, achieving a return on equity of 14.9%, and sustained cost-side operational efficiency, reflected in a cost-to-income ratio of 47.7%.
- In Q3 2025, the Group’s risk profile remained sound, supported by a strengthening in credit portfolio quality. The Stage 3 loans gross ratio improved to 2.0%.
- Citadele upheld a strong capital position, with the Group’s Capital Adequacy Ratio (CAR) reaching 22.5%, enabling continued lending growth.
In the first nine months of 2025, the loan portfolio grew by 12% as compared to year-end 2024, reaching EUR 3.67 billion as of 30 September 2025. During this period, EUR 1.2 billion in new financing was issued to support Baltic private individuals, SMEs, and corporate clients.
“As we close the third quarter, a new growth cycle is unfolding across the Baltics, driven by innovation, digitalization, and renewed confidence. In light of the region’s economic development, Citadele is well positioned to serve as a trusted financial partner. In the first nine months of 2025, we issued EUR 1.2 billion in new financing - a 24% year-over-year increase - as part of our commitment to empowering individuals and businesses to make confident financial decisions, whether purchasing a dream home, planning for the future, or navigating key business investments. To further strengthen our strategic positioning in supporting the continued success of the Baltic region, we successfully completed a EUR 300 million senior preferred unsecured bond issuance, with demand exceeding the target amount by nine times. This strong result underscores international investor confidence in Citadele’s role in the Baltics and their continued support for our growth strategy.” said Rūta Ežerskienė, CEO and Chair of the Management Board.
Client base growth & digital focus
Citadele continues to expand its customer base, reinforcing its position among private individuals and businesses across the Baltic region. As of 30 September 2025, our active customer base reached 406 thousand, reflecting a 3% year-over-year increase.
Strong momentum in digital innovation is accompanied by a clear customer preference for fast, simple digital processes. . Currently, 86.9% of customers actively use digital channels, and the number of active mobile app users has reached 282 thousand – marking a 7% year-over-year increase. This trend highlights growing trust in Citadele’s secure and convenient digital ecosystem, positioning the bank among the top digital-first financial institutions in the Baltics.
Innovations and development
Citadele remains focused on driving innovation and continuously evolving its product and service offering to better serve the needs of individuals, families, and businesses.
This commitment was reflected in several notable developments during Q3 2025. A key milestone was the introduction of the Click to Pay feature for Citadele VISA cards. This feature enables secure and convenient online purchases using card tokens, significantly enhancing both safety and overall customer experience.
The retail lending offering was also expanded with two new offerings: the Home Energy Efficiency Loan, the first unsecured product eligible for Green classification, supporting sustainable home improvements; and the Small Home Loan, designed to provide flexible financing for renovations, upgrades, and repairs.
Financial Highlights
In the first nine months of 2025, Citadele achieved strong financial results, generating an operating income of EUR 167.0 million and delivering a return on equity of 14.9%, while the cost-to-income ratio (CIR) was 47.7%. The Group’s net profit from continuous operations reached EUR 63.8 million, while total net profit was EUR 60.6 million.
As of 30 September 2025, the total loan book grew to EUR 3.67 billion, reflecting a 12% increase (EUR 394 million) since 31 December 2024. Citadele provided EUR 1.2 billion in new financing during the first nine months of 2025 - marking a 24% increase as compared to 9M 2024. Of this amount, EUR 136 million was directed to green and transition financing initiatives, underscoring the bank’s commitment to sustainability as a core element of its customer value proposition.
Citadele’s deposit base totaled EUR 4.1 billion as of 30 September 2025, reflecting a 2% since year-end 2024.
The Group’s LCR and NSFR remained at healthy levels, standing at 196% and 144%, respectively, as of 30 September 2025, compared to 181% and 143% at year-end 2024.
Citadele continued to demonstrate financial resilience as of 30 September 2025. The Group’s capital adequacy ratio (CAR) was 22.5%, while the Tier 1 ratio was 20.2%.
The overall credit quality of the loan portfolio remained strong. The Stage 3 loans gross ratio decreased to 2.0% as of 30 September 2025, compared to 2.3% as of 31 December 2024.
In July 2025, Citadele completed the sale of its Swiss subsidiary, Kaleido Privatbank AG, to a regulated French bank.
In a dynamic economic environment, supported by encouraging signs of a new growth cycle emerging, Citadele remains focused on embracing strategic opportunities that enhance our market position and drive long-term growth.
About Citadele Group
Citadele is the only Baltic bank whose parent company is headquartered in Latvia, ensuring a proportionally greater contribution to the Latvian economy. Its subsidiaries and branches operate in Latvia, Lithuania, and Estonia.
Citadele’s mission is to modernize the financial sector by offering a range of next-generation financial technology-based services alongside traditional banking products, serving both private individuals and entrepreneurs across the Baltics. In the first nine months of 2025, Citadele issued EUR 1.2 billion in new loans, with the total loan portfolio reaching EUR 3.67 billion and deposits growing to EUR 4.1 billion.
Learn more about Citadele in Latvia: Facebook/bankaCitadele, LinkedIn/Citadele banka, Twitter/Citadele, YouTube/BankaCitadele.