Agriculture, Financial Services, Good for Business, Investments, Latvia, Loan, Markets and Companies

37% of the companies which received loans from Citadele in 2013 came from the agricultural sector, 17% represented the retail sector, and 16% came from the service sector.  In terms of amounts of money given to companies, the largest sums were awarded to industrial companies (22%), agricultural enterprises (20%), and service businesses (16%).

“Last year Citadele issued loans of EUR 139.2 million to companies in Latvia,” says Citadele board member Santa Purgaile.

“Citadele is always open to co-operation with companies from any sector, because corporate loans are a priority for us. The main thing is to ensure that the project is sustainable and involves a clear business plan. We’re a local bank, and the great advantage for us is that decisions are taken here in Rīga. That means that we can quickly identify the most appropriate financing model for each company. We also work with the Latvian Guarantee Agency and the Rural Development Fund to provide various solutions and ensure that clients have easier access to financing.”

A trend which began in 2012 – that businesspeople mostly needed financing to increase cash on hand and make investments in areas such as purchasing new manufacturing equipment, reconstructing facilities, etc. – continued in 2013.

The number of companies choosing to receive financing from Citadele Bank in 2013 was nearly two times higher than in 2012.