Group, EUR millions*
| |
9M`24 |
9M`23 |
|
Q3`24 |
Q2`24 |
Q1`24 |
|
12M`23 |
12M`22 |
| Net interest income |
144.8 |
138.8 |
|
49.2 |
48.6 |
47.0 |
|
187.9 |
119.4 |
| Net fee and commission income |
25.4 |
29.0 |
|
8.2 |
8.3 |
8.9 |
|
37.8 |
37.8 |
| Net financial and other income |
4.6 |
6.5 |
|
1.3 |
1.4 |
1.9 |
|
8.2 |
5.4 |
| Operating income |
174.7 |
174.3 |
|
58.7 |
58.3 |
57.8 |
|
233.9 |
162.6 |
| Operating expense |
(81.5) |
(73.5) |
|
(24.8) |
(28.9) |
(27.7) |
|
(104.5) |
(73.5) |
| Net credit losses and impairments |
2.5 |
6.5 |
|
(4.5) |
4.1 |
2.9 |
|
4.5 |
(23.8) |
| Net profit from continuous operations (after tax) |
75.1 |
100.2 |
|
24.1 |
25.4 |
25.6 |
|
110.4 |
45.2 |
| Return on average assets (ROA) |
2.1% |
2.7% |
|
2.0% |
2.2% |
2.2% |
|
2.2% |
0.9% |
| Return on average equity (ROE) |
18.9% |
29.0% |
|
18.3% |
19.2% |
19.4% |
|
23.6% |
11.1% |
| Cost to income ratio (CIR) |
46.6% |
42.2% |
|
42.3% |
49.6% |
48.0% |
|
44.7% |
56.3% |
| Cost of risk ratio (COR) |
(0.1%) |
(0.3%) |
|
0.6% |
(0.5%) |
(0.4%) |
|
(0.2%) |
(0.8%) |
*Only continuous operations shown. Comparatives are restated for discontinued operations of Kaleido Privatbank AG (Swiss subsidiary bank of the Group) which is committed for sale and thus excluded from the presented key figures. Comparative figures for 2022 have been restated due to the adoption of IFRS 17, earlier comparative figures are not restated for IFRS 17.
Group, EUR millions
| |
30 Sept 2024 |
31 Dec 2023 |
31 Dec 2022 |
31 Dec 2021 |
31 Dec 2020 |
31 Dec 2019 |
| Total assets |
5,005 |
4,863 |
5,405 |
5,055 |
4,597 |
3,743 |
| Loans to public |
3,133 |
2,862 |
2,966 |
2,702 |
1,541 |
1,568 |
| Deposits and borrowings from customers |
3,928 |
3,830 |
4,026 |
3,814 |
3,671 |
3,290 |
| Shareholders' equity |
543 |
515 |
420 |
397 |
344 |
341 |
| Loan-to-deposit ratio |
80% |
75% |
74% |
73% |
42% |
48% |
Key figures and events of the Group
- Citadele's operating income in the first nine months of 2024 reached EUR 174.7 million, remaining similar period-over-period. Return on equity stood at 18.9%, while the cost-toincome ratio (CIR) was 46.6%. In Q3 2024, operating income was EUR 58.7 million, reflecting a 1% increase quarter-over-quarter.
- In the first nine months of 2024, the loan portfolio increased by 9%, reaching EUR 3,133 million as of 30 September 2024. EUR 944 million was issued in new financing to support Baltic private, SME, and corporate customers during this period, with EUR 320 million issued in Q3 2024.
- The overall credit quality of the loan book remained strong. The Stage 3 loans to public gross ratio reached an all-time low of 2.0% as of 30 September 2024, down from 2.1% as of 31 December 2023.
- Citadele's deposit base totalled EUR 3,928 million as of 30 September 2024, reflecting a 3% increase since the end of 2023.
- Citadele’s active customers increased by 2% quarter-overquarter, reaching 393 thousand as of 30 September 2024. The number of active mobile app users reached 264 thousand, growing by 5% year-overyear. Active digital channel users accounted for 90.3% of total customers.
- Citadele continues to operate with more than adequate capital and liquidity ratios. The Group’s CAR was 23.0%, CET1 was 20.1%, and the LCR was 192% as of 30 September 2024.
- As of 30 September 2024, Citadele had 1,360 full-time employees.
- Despite some economic and geopolitical uncertainty, the bank continues to evaluate various strategic options, including the possibility of an IPO.