Over recent years Citadele banka (Citadele) has successfully developed into a modern Baltic banking platform by pursuing a strategy focused on leading digital solutions and best-in-class customer service. Citadele believes now is the right timing to explore strategic alternatives to maximize value for its shareholders and customers. As part of this strategic process, Citadele will consider all potential alternatives that can deliver value for the bank’s shareholders and customers. Such alternatives could include an initial public offering of its shares or other possible strategic transactions, including mergers and acquisitions.

Citadele has hired financial advisors to assist in its review of the strategic alternatives.

Citadele has not set a timetable for completion of its review. There can be no assurance regarding the results or outcome of Citadele’s review of strategic alternatives. Citadele undertakes no obligation to make any further announcements regarding the exploration of strategic alternatives.

About Citadele Bank

Citadele’s mission is to modernise the banking sector and offer more opportunities to clients and businesses throughout the Baltics. In 2022, Citadele issued €1.2 billion in new loans in the Baltics, with its total loan portfolio reaching €2.9 billion, while total deposits reached €3.9 billion by the end of the year.

Alongside classic banking services, Citadele offers its clients a range of services based on next-generation financial technology, including its modern app, contactless payments and instant payments. Citadele was the first in the Baltics to introduce opening an account with a selfie, payment rings and payments to mobile numbers.

The Citadele group is headquartered in Latvia. Its subsidiaries and branches operate in Latvia, Lithuania and Estonia.

         Ilona Frīdmane
         Head of Investor Relations & ESG
         Phone: +371 29483327
         Email: investor.relations@citadele.lv