AS Citadele banka has received approval from the Latvian Financial and Capital Market Commission to change AB Citadele bankas’ legal status from a subsidiary to a branch

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Yesterday, April 24, 2018 AS Citadele banka (Citadele Bank) received approval from the Latvian Financial and Capital Market Commission to merge AB Citadele bankas with AS Citadele banka. The merger prospectus is attached to the market announcement.

As part of this reorganization, a new branch of AS Citadele banka will be opened in Lithuania and all the assets and liabilities of AB Citadele bankas will be transferred to the new branch of AS Citadele banka.

The reorganization is expected to be completed during the first half of 2019.

 

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