OREANDA-NEWS. September 16, 2010. Citadele is glad to announce that the Bank repaid EUR 17.3 million deposit to the Ministry of Finance. Citadele has repaid the deposit prior to the set deadline as the Bank has succeeded to grow its deposit base by another LVL 48 million in August 2010; thus, the Bank’s liquidity indicators substantially exceed the requirements, reported the press-centre of Bank Citadele.

Chairman of the Executive Board of Citadele, Juris Jakobsons: “In the first month of its operations bank Citadele has managed to achieve better results in attracting deposits than expected, especially in the corporate and institutional client segment. One of the Bank’s main priorities is the repayment of the State aid provided to the Bank; hence, we are glad that the improvement of the financial results of Citadele, allows the Bank to repay part of the state deposit shortly after launch of its operations.”

As previously announced, on 1 August 2010 the technical split of Parex banka was performed, as a result part of assets and liabilities was transferred to bank Citadele, including part of the Ministry of Finance deposits.