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Sunday, 05.04.2026, 09:43
Citadele Banka to take over Parex operations in Estonia
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The bank announced that the transfer of the business operations to the new bank will not affect customer relations and all contracts concluded with Parex Pank will remain in force.
Parex Pank and Citadele Pank concluded a contract on the basis of Article 180 of the Law on Obligations and transferred the entire customer base, all assets, rights and obligations to Citadele Pank.
From August 1, 2010, all customer accounts are serviced by Citadele Pank.
On July 29, 2010, Latvian Committee of Financial and Capital Markets issued a credit establishment licence to AS Citadele Banka.
On July 27 the Estonian Financial Supervisory Authority agreed establishing a branch of Citadele Banka (Citadele Pank) in Estonia. Citadele Pank was entered in the commercial register in Estonia on July 28, founded by the Latvian Privatisation Agency.
Citadele Pank is led by Sofia Krist.
The definitive change in the company's name and symbolics will take place before the end of 2010. Citadele Pank operates without any limitations imposed on it.
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