AS Citadele Banka Is A Latvian Bank And Also A Financial And Asset Management Company. The Main Operating Market Of The Citadel Group Is The Baltic States.
Citadele Banka Is The Parent Company Of A Group That Provides Banking, Financial And Private Capital Management Services In Its Domestic Market And Through Its International Presence.
Citadele Was One Of Two Institutions Created In 2010 By The Spin-off Of Parex Bank, Managed By The State Government, Into Viable And Troubled Banking Assets. The Other Is Reverta. Parex Was Privately Established In 1992 And Was Taken Over By The Latvian Government During The Financial Crisis In 2010-9. The Distressed Banking Assets Remain In The Hands Of Parex And Are Now Renamed Reverta.
Citadele Was Designated In 2020 As An Important Institution Under The European Standards Of Banking Supervision, And Is Therefore Directly Supervised By The European Central Bank.
In 2024, The CEO Johanas Ökerblomas Was Replaced By RÜta Ežerskienä.
Name
The Name Citadele Is Derived From The Italian Word "citadella", Which Means A Small City, A Powerful Fortress, And The Main Fortifications Of The Feudal City Center. It Is Also An Administrative And Cultural Center. The Headquarters Of The Citadele Group Is Located In Riga's Republic Square 2a.
Ownership
An International Investor Group Represented By Ripplewood Advisors LLC, Together With 12 Prominent Investors, Owns 75% Of Citadele Banka And One Share After The Privatization Of The Latvian Government. The European Bank For Reconstruction And Development (EBRD) Continues To Hold A 25% Stake, Minus One Share Of The Bank.
