Banks, Financial Services, Latvia
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 11:38
Citadele Bank posts EUR 24.451 mln in losses in nine months
Citadele group, meanwhile, posted EUR 20.499 mln in
loss.
Citadele's assets on September 30, 2020, reached EUR
4.18 bn, up 21.2% or EUR 732.392 mln from the end of 2019. The group's assets
accounted for EUR 4.436 bn, growing 18.5% or EUR 693.62 mln from late 2019.
The bank reported that overall business sentiment improved
in the third quarter of 2020. Customer activity increased and number of new
customers onboarded reached almost 5,000 new clients, 55% increase q-o-q.
Active customers reached 322,000 clients as of September 30, 2020, or 8% growth
y-o-y.
Although the moratorium regarding united bank approach to
granting grace periods on loan repayments ended in September, Citadele encourages
its clients to contact the Bank promptly if they face unexpected financial
challenges.
The number of requests for grace periods on loan repayments
has remained comparatively low – 2,500 applications by the end of September, of
which 98 % were submitted during first half of 2020.
The credit quality of the Group’s loan portfolio remained
stable with very minor changes during the period.
In the first nine months of the year, EUR 327 mln were
issued in new loans to private, SME and corporate customers.
In the first nine months of 2020, deposits with the bank
reached EUR 3.542 mln, which was an 8 % increase compared to the end of 2019.
In 2019, Citadele Bank posted a profit of EUR 38.976 mln,
which was 18% more than in 2018, while Citadele Group's profit last year
was EUR 36.504 mln, which was 4.8% more than in 2018, according to the information
published by the bank.
Citadele is the second largest bank in Latvia by
assets.
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