Citadele Banka

Last updated
Banka Citadele AS
Industry Banking
Founded30 June 2010 [1]
Headquarters,
Key people
Guntis Beļavskis
Products Financial services, Insurance
€233.9 million (2023)
€110.4 million (2023)
Total assets €5.4 billion (2022) [2]
Owners Ripplewood Holdings (75%)
European Bank for Reconstruction and Development (25%)
Number of employees
Increase2.svg 1,500
Website www.citadele.lv
Footnotes /references
[3] [4] [5] [6]

AS Citadele banka is a Latvian bank and financial and asset manager. [7] [8] The principal market of operation for the Citadele Group is the Baltic States.

Contents

Citadele banka is the parent company of a Group offering banking, financial and private capital management services in its home market and through its international presence.

Citadele is one of two institutions created in 2010 from a state administered split of Parex Bank into viable and distressed banking assets. The other is Reverta. Parex was privately founded 1992 and taken over by the Latvian government on 8 November 2008 during the Financial crisis of 2007–2010. The bad bank assets remained with Parex, now renamed Reverta. [9] [10] [11]

Citadele has been designated in 2020 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank. [12] [13]

In 2024 the CEO Johanas Åkerblomas was replaced by Rūta Ežerskienė. [14]

Name

The name Citadele is drawn from the Italian word “citadella” meaning a small city, a powerful fortress, and the main fortification at the heart of the feudal city which also serves as the administrative and cultural centre. The headquarters of the Citadele Group is located at 2a Republic Square, Riga.

Ownership

An international group of investors represented by Ripplewood Advisors LLC together with 12 reputable investors own 75% plus one of Citadele banka's shares after its re-privatization by the Latvian government. The European Bank for Reconstruction and Development (EBRD) continues to own 25% minus one of the bank's shares. [15]

Related Research Articles

<span class="mw-page-title-main">SEB Group</span> Swedish financial group for corporate customers

Skandinaviska Enskilda Banken AB, abbreviated SEB, is a Swedish bank headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded in 1972 by the Swedish Wallenberg family, which is still SEB's largest shareholder through major investment company Investor AB. SEB is the largest Swedish bank by both market capitalisation and total assets.

<span class="mw-page-title-main">SEB banka</span> Latvian subsidiary of Skandinaviska Enskilda Banken

SEB banka is one of the largest banks in Latvia and a part of the Swedish SEB Group. Nowadays, its main rivals in the Latvian banking market are Swedbank, Luminor and Citadele bank.

<span class="mw-page-title-main">SEB bankas</span>

AB SEB Bankas is a commercial bank in Lithuania. It is the Lithuanian subsidiary of one of the largest Swedish banks, the SEB Group.

<span class="mw-page-title-main">Lithuania in the Eurovision Song Contest</span>

Lithuania has participated in the Eurovision Song Contest 24 times since its debut in 1994, where Ovidijus Vyšniauskas finished last, receiving "nul points". Lithuania withdrew from the contest, not returning until 1999. LT United's sixth place in 2006 with the song "We Are the Winners" is Lithuania's best result in the contest. The country reached the top ten for a second time in 2016, when Donny Montell finished ninth with "I've Been Waiting for This Night", and for the third time in 2021, finishing eighth with The Roop and "Discoteque".

<span class="mw-page-title-main">Ūkio bankas</span>

Ūkio Bankas was a Lithuanian commercial bank based in Kaunas. More than 50% of shares are owned by Lithuanian businessman Vladimir Romanov who therefore is in the control of the bank. It was the fifth largest and oldest private bank in Lithuania.

Reverta is a professional-distressed asset management company headquartered in Latvia. With branches in Berlin, Stockholm, Tallinn and representative offices in Tokyo, Moscow, Kyiv, Baku and other cities, the company employs 2,600 staff in 14 countries.

<span class="mw-page-title-main">Maxima Group</span> Lithuanian multinational grocery and general merchandise retailer

Maxima Grupė UAB is a Lithuanian group of retail chain companies operating in Lithuania, Latvia, Estonia, Poland and Bulgaria. It is the largest Lithuanian capital company and the largest employer in the Baltic states. As of 2023, Maxima has 1599 stores in Lithuania, Latvia, Estonia, Poland and Bulgaria. Each store offers between 3,000 and 65,000 brands, depending on the size of the store. The group employs around 40,000 people. Its main headquarters are in Vilnius, Lithuania.

<span class="mw-page-title-main">15min</span> Lithuanian news website

15min is one of the largest news websites in Lithuania, attracting over one million unique users per month. The Estonian media company Postimees Group owns 60% of it and Lithuanian company 4 Bees, owned by Tomas Balžekas, Martynas Basokas, Gabrielė Burbienė, and Tomas Bindokas holds 40%.

<span class="mw-page-title-main">Dainius Kreivys</span> Lithuanian politician

Dainius Kreivys is a Lithuanian businessman and politician who served as the Minister of Economy of Lithuania from 2008 to 2011 and is a member of Seimas since 2012. He is a member of the conservative political party Homeland Union – Lithuanian Christian Democrats.

<span class="mw-page-title-main">ABLV Bank</span> Bank in Latvia

ABLV Bank was one of the largest private banks in the Baltic States, headquartered in Riga, Latvia with representative offices abroad from 1993 to 2018.

<span class="mw-page-title-main">Parex Bank</span> Bank based in Riga, Latvia

Parex Bank was a Latvian bank founded in 1992 by Valērijs Kargins and Viktors Krasovickis as a privately owned full-service banking company in Riga, Latvia that was very dominant in currency exchange in the 1990s. It had local and international clients in both the West and Russia with close ties to the Tambovskaya Russian mafia in St Petersburg and Vladimir Putin.

<span class="mw-page-title-main">Gitanas Nausėda</span> President of Lithuania

Gitanas Nausėda is a Lithuanian politician, economist and banker who is serving as the ninth and current president of Lithuania since 2019. He was previously director of monetary policy at the Bank of Lithuania from 1996 to 2000 and chief economist to the chairman of SEB bankas from 2008 to 2018.

<span class="mw-page-title-main">Kietaviškių gausa</span> Vegetable grower in Lithuania

Kietaviškių gausa is the largest vegetable growing company in the Baltic states. It was established in 1987 in Kietaviškės village next to Elektrėnai. More than 8,000 tons of vegetables, tomatoes, cucumbers and lettuce in pots are produced in the complex of greenhouses covering the area of 20 hectares. Following modernisation in 2016, greenhouses were installed with artificial growing systems, becoming the first such growing in Lithuania, growing all year round. The modernisation cost 15 million euros, of which 10 million euros was paid by the European Union. And the company was financed with a 7.16 million Euro loan from SEB Bank. In 2017, the company was granted 6.5 million euros in government grants. The company operates 20 individual greenhouses. The company sells some of its produce under its own-label. In 2018, the company paid 801,000 euros in taxes.

The 2019 Baltic Futsal Cup was held on 2–4 December 2019 in Raasiku, Estonia. This edition featured the three Baltic teams.

Šiaulių bankas is a major commercial bank in Lithuania providing retail and commercial banking services.

Estoty is a mobile game studio based in Riga, Latvia and Vilnius, Lithuania.

<span class="mw-page-title-main">Ignas Vėgėlė</span> Lithuanian jurist and politician

Ignas Vėgėlė is a Lithuanian lawyer and right-wing politician who served as president of the Lithuanian Bar Association from 2014 to 2022, as well as president of the Lithuanian Lawyers' Association from 2013 to 2016. He was a member of the right-wing Christian conservative Lithuanian Christian Democrats from 1994 and served as the party's deputy chairman of the board from 2002 to 2004, and as interim chairman of the board from 2004 to 2006. Upon the party's merger with the Homeland Union-Lithuanian Christian Democrats, he became an independent politician.

<span class="mw-page-title-main">Vilnius Central Business District</span> Central business district of Vilnius, Lithuania

The Central Business District is a rapidly developing business district in Šnipiškės eldership of Vilnius, Lithuania. It is Lithuania's most important business district and the largest of its kind in the Baltic States.

<span class="mw-page-title-main">Kurk Lietuvai</span> Agency of the Lithuanian government

Kurk Lietuvai, also known as KurkLT, is a strategic government initiative focused on fostering innovation and implementing best practices within the Lithuanian public sector. It is part of Invest Lithuania, country's foreign investment agency.

References

  1. "History". Citadele Group. Retrieved 12 July 2016.
  2. Annual report 2022
  3. "Investor relations". Citadele Group. 2023-09-11. Retrieved 2024-02-13.
  4. "Citadele bank HQ in Rīga bought by Lithuanian investment fund". Eng.lsm.lv. 2020-11-12. Retrieved 2024-02-13.
  5. "Citadele Bank is moving its Lithuanian headquarters to Green Hall business valley". en.15min.lt. 2020-03-13. Retrieved 2024-02-13.
  6. "Annual report 2023". Archived from the original on 2024-04-02. Retrieved 2024-04-02.
  7. "JSC "Citadele banka"". Lietuvos bankas (in Lithuanian). Retrieved 2023-10-12.
  8. ""Citadele" vadovas Akerblomas: ambicijos yra gerai, o štai godumas – blogai ir jį labai sunku reguliuoti". lrt.lt (in Lithuanian). 2021-11-19. Retrieved 2023-10-12.
  9. Informacija, Ekonomikos Ir Finansų (2010-08-26). ""Parex" banko pavadinimas pakeistas į naują". Delfi verslas (in Lithuanian). Retrieved 2023-10-12.
  10. "AB "Citadele" banko inspektavimo rezultatų ir priežiūrinio tikrinimo ir vertinimo rezultatai". Lietuvos bankas (in Lithuanian). 2012-03-06. Retrieved 2023-10-12.
  11. "AB "Parex" bankas tapo AB "Citadele" banku". 15min.lt/verslas (in Lithuanian). 2010-08-26. Retrieved 2023-10-12.
  12. "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  13. "European Central Bank takes over direct supervision of Citadele banka". eng.lsm.lv. Retrieved 2024-05-22.
  14. Gapšys, Justinas. "„Citadele" bankui vadovaus R. Ežerskienė". vz.lt (in Lithuanian). Retrieved 2024-05-22.
  15. RIPPLEWOOD AND LATVIAN PRIVATIZATION AGENCY SIGN AGREEMENT FOR SALE OF CITADELE BANK