In 2017, Citadele had a strong performance in all business sectors, powered by active lending to Lithuanian companies and private individuals. In 2017, Citadele Bank issued EUR 108.6 million in new loans to private and corporate customers, which is 16 percent more than in 2016. As at 31 December 2017, the bank’s net loan portfolio was EUR 254.6 million, which is 11.8 percent more than in 2016.
In 2017, Citadele Bank in Lithuania issued EUR 95.7 million in new loans to businesses, which is 12.5 percent more compared to 2016. As at 31 December 2017, corporate loan’s portfolio reached EUR 159.4 million; an increase of 20 percent compared to 2016. In 2017, Citadele Bank issued EUR 12.9 million in consumer credits, which is 54.9 percent more than in 2016.
“Stable growth of loan portfolio shows that Citadele’s strategy is working. Citadele has established a high quality customer service that has been recognized as the best in the country. This year Citadele will seek to improve products and service channels.” says Jūratė Jazukevičienė, Chairwoman of the Board and head of administration of Citadele Bank in Lithuania.
In 2017, deposits in Citadele Bank grew by 7.9 percent and, on 31 December 2017, amounted to EUR 453.1 million. Its net profit increased by 7.6 percent compared to 2016 and reached EUR 2.7 million.
For the third year in a row, Citadele Bank has been recognised as the best bank in Lithuania in terms of quality of customer service. According to the results of the survey completed by Dive Lietuva (Slapto Pirkėjo Tyrimai UAB) in the end of 2017, the quality of customer service of Citadele Bank scored 99.6 percent out of 100 percent.
Citadele Group results
As at 31 December 2017, Citadele Group’s capital adequacy ratio (CAR) was 18.4%, net profit (before nonrecurring one-off items) was EUR 31.5 million, client deposits were EUR 2.88 billion, and the Group’s loan portfolio reached EUR 1.33 billion.