AS "Citadele banka" (formerly SC Citadele Banka)

Citadele Banka is a Latvian bank, establlished in 2010 when good assets of Parex Bank were transferred to the newly created Citadele Banka. Citadele Banka provides retail and corporate banking products and services to domestic and international clients.

Services

Retail Banking
Private Banking
Corporate Banking

Products

Financials

Total Assets (2017)
2 545.43 mln EUR  (-3.20%)
Net Income (2017)
1.26 mln EUR  (-96.54%)

In 2017 total assets of AS "Citadele banka" were 2 545,43 mln EUR. In 2017 the bank's net income was 1,26 mln EUR.

AS "Citadele banka" is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Ba2 (non-investment grade speculative).

AS "Citadele banka" participates in deposit guarantee scheme of Latvia. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

Republikas laukums 2A, 1010, Rīga, Latvia
+371 6 701 0000
+371 6 701 0001

AS "Citadele banka" is headquartered in Rīga.

Bank Identifiers

BIC (SWIFT)
PARXLV22
MFI ID
LV000500
Company Number
40103303559

Business Summary

Services
retail banking
private banking
corporate banking
Products
current accounts
debit cards
credit cards
savings accounts
time deposit accounts (0.20 - 1.60 %)
consumer loans
mortgage loans
leasing

AS "Citadele banka" provides products and services in the areas of retail banking, private banking, corporate banking. The range of products offered by AS "Citadele banka" includes current accounts, debit cards, credit cards, savings accounts, time deposit accounts (0.20 - 1.60 %), consumer loans, mortgage loans, leasing.

Products

Time Deposit Accounts

Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).

Time deposit accounts made with AS "Citadele banka" are covered by deposit guarantee scheme of Latvia up to 100 000 EUR per depositor. AS "Citadele banka" offers the following time deposit accounts.

Updated on 16 November 2018

Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.20 %
Deposit Term (months)
3
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.20 %
Deposit Term (months)
3
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.60 %
Deposit Term (months)
12
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.60 %
Deposit Term (months)
12
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.90 %
Deposit Term (months)
18
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.90 %
Deposit Term (months)
18
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.00 %
Deposit Term (months)
24
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.00 %
Deposit Term (months)
24
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.15 %
Deposit Term (months)
36
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.15 %
Deposit Term (months)
36
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.25 %
Deposit Term (months)
60
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.25 %
Deposit Term (months)
60
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.35 %
Deposit Term (months)
84
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.35 %
Deposit Term (months)
84
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.60 %
Deposit Term (months)
120
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.60 %
Deposit Term (months)
120
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year

Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

See Also

Financial Positions

Total Assets (2017)
2 545.43 mln EUR  (-3.20%)
Total Equity (2017)
239.90 mln EUR  (+0.74%)

In 2017 total assets of AS "Citadele banka" were 2 545.43 mln EUR. Decline compared to the previous period (2016) was -3.20%. The evolution of the total assets of AS "Citadele banka" is shown at Chart 1 below.

Total Assets of AS

Chart 1. Total Assets of AS "Citadele banka".

Recent changes in total assets of AS "Citadele banka" and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 647.6 494.8 -23.59%
Loans 1 009.1 1 118.3 +10.82%
Total Assets 2 629.6 2 545.4 -3.20%
Table 1. Recent changes in total assets of AS "Citadele banka" (mln EUR).

Recent changes in total liabilities of AS "Citadele banka" and its main components are shown in Table 2.

2016 2017 % change
Bank deposits 23.4 5.0 -78.40%
Deposits from other clients 2 350.4 2 278.0 -3.08%
Total Liabilities 2 629.6 2 545.4 -3.20%
Table 2. Recent changes in total liabilities of AS "Citadele banka" (mln EUR).

Profit and Loss

Net Income (2017)
1.26 mln EUR  (-96.54%)

Recent changes in gross profit of AS "Citadele banka" and its main components are shown in Table 3.

2016 2017 % change
Interest Income 66.1 72.2 +9.21%
Interest Charges -16.0 -15.8 -1.33%
Commission Income 42.2 40.5 -4.09%
Commission Charges -15.0 -17.9 +19.09%
Table 3. Recent changes in gross profit of AS "Citadele banka" (mln EUR).

In 2017 net income of AS "Citadele banka" was 1.26 mln EUR. Decline compared to the previous period (2016) was -96.54%. The evolution of the net income of AS "Citadele banka" is shown at Chart 2 below.

Net Income of AS

Chart 2. Net Income of AS "Citadele banka".

Credit Ratings (as of May 2018)

Fitch Moody's
- (not rated) Ba2 (non-investment grade speculative)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. AS "Citadele banka" is rated by Moody's.

Credit ratings assigned to AS "Citadele banka" as of May 2018 are shown in details in the following sections.

Moody's

Long-term rating for AS "Citadele banka" it is set to Ba2 (non-investment grade speculative). Long-term bank deposit rating is Ba2 (non-investment grade speculative). Baseline credit assessment is b1. Short-term rating is not assigned.

Long-Term Rating  Ba2
Long-Term Bank Deposit Rating  Ba2
Baseline Credit Assessment  b1
Short-Term Rating  -
Outlook  positive

Outlook for the ratings of AS "Citadele banka" is set to positive (may be raised).

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Latvia are obliged to participate in Latvian deposit guarantee scheme.

In the case of AS "Citadele banka" failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  deposits, current account balance, salary accounts, savings accounts etc.
Maximum Protected Amount  100 000 EUR
Paid In Currency  EUR

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of AS "Citadele banka" and its components are shown in the table below.

BIC  PARXLV22
Bank BIC Code  PARX
Country Code  LV (Latvia)
Location Code  22
Branch Code  -

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of AS "Citadele banka" is shown in the table below.

MFI ID  LV000500

Company Registration Number

Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.

Company Number  40103303559

European Presence: 3 banks in 3 countries

AS "Citadele banka" operates under the brand name Citadele Banka. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Estonia

Latvia

  •  (this bank) AS "Citadele banka" (Rīga)

Lithuania

Banking Products in Latvia