Banks Citadel assets on 30 september 2020 amounted to 4.18 billion euros, which is 21.2% or 732.392 million euros more than at the end of 2019, when the bank’s assets were 3.447 billion euros. At the end of September, the bank group’s assets amounted to 4.436 billion euros, which is 18.5% or 693.62 million euros more than at the end of last year.
“Since March, the bank’s main focus has been on the safety and well-being of customers and employees. Taking all precautions to limit the spread of the virus, from September 30, we resumed customer service by appointment,” the bank noted. Citadel Chairman of the Board Johan Akerbloms.
The bank noted that overall business sentiment has improved and customer activity is growing, including the number of new customers reached almost 5,000, which is 55% more than in the previous quarter. The number of the bank’s active customers on September 30, 2020 was 322,000, which is 8% more than a year earlier.
The bank also noted that although a moratorium on a common approach to granting loans was granted in September, the bank Citadel calls on customers to contact the bank in good time in the event of unforeseen financial challenges. Each case will be considered on an individual basis to find the best solution and help customers in short-term financial difficulties. Demand for loan repayment grace period has remained relatively low – 2,500 applications in the first nine months of 2020, of which 98% were received during the first half of 2020.
In the first nine months of 2020, the bank issued 327 million euros in new loans to individuals, small and medium-sized enterprises, as well as corporate segment customers, of which 141 million euros were issued in the third quarter of 2020, which is twice as much as in the second quarter of this year. The total loan portfolio at the end of September was 1.537 million euros, which is a slight decrease compared to the end of 2019.
The amount of deposits on September 30, 2020 reached 3.542 million euros, showing an increase of 8% compared to the end of 2019.
The bank stated that its capital adequacy ratio was 22.2% at the end of September, while its liquidity coverage ratio was 390%.
In the nine months of 2019, the bank Citadel operated with a profit of 28.094 million euros, while the bank group’s profit was 27.228 million euros.
On April 20, 2015, the Privatization Agency completed the state-owned banks Citadel share sale transaction, by an investor approved by the Latvian government Ripplewood subsidiary in the United States RA Citadele Holdings LLC and a group of 12 international investors becoming the bank’s 75% plus one shareholder. The European Bank for Reconstruction and Development (EBRD) has retained 25% minus one bank share.
By amount of assets bank Citadel is the second largest bank in Latvia.
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