OREANDA-NEWS. March 01, 2011. An increasing number of manufacturing companies in Latvia express their interest in credit services offered by Citadele Bank. Some of them apply for new loans whereas others seek refinancing liabilities that bind them with other banks. In January 2010 the dominating ones were companies representing trade and services sector but the majority of Citadele Bank’s new clients in January 2011 are manufacturing companies, reported the press-centre of Citadele Banka.

Since August last year when Citadele Bank launched its activity, a stable increase in the number of new clients exists in the corporate segment. Comparing data of January 2011 with data of January 2010, it is evident that the number of such clients has doubled.

The number of new clients in small and medium enterprise segment, on its part, has increased by 20% during this period.

Along with the increase in the number of new clients with Citadele Bank, existing clients are also increasing their activity – the number of active clients who regularly carry out their business transactions at Citadele Bank has went up by 58%.

“I am glad that the entrepreneurs’ trust toward the Bank grows with each Citadele’s business day. The client and his/her interests are our core value and we will continue to work purposefully in the future so that new clients are interested in Citadele’s services and we will also continue to work in close collaboration with the existing clients, carrying on with the initiated corporate loyalty program as well as continuing to improve the range of products and services offered by the Bank,” says Agnese Paegle, Head of Corporate Services Directorate of Citadele Bank.

About Citadele Bank
Citadele is the largest local Bank in Latvia with branch offices in other countries. AS “Citadele Banka” was established to inspire people and enterprises to growth and enhance regional development. It is the only collaboration partner of American Express® in Latvia and Lithuania who is entitled to issue American Express credit cards. Presently, 75% of its shares are owned by Privatization Agency and the European Bank for Reconstruction and Development possesses 25% plus one of its shares. The value of Citadele Bank’s assets is 1.4 billion Lats.