AB “Citadele” bankas in Lithuania is a part of the newly founded “Citadele” group in Latvia. The sole shareholder of AB “Citadele” bankas is AS “Citadele banka” in Latvia.

On 26 August 2010, AB “Parex” bankas changed its name to AB “Citadele” bankas under the procedure set by the laws of the Republic of Lithuania. The name of the bank was change along with altering the name of its sole shareholder, the bank in Latvia. AB “Citadele” bankas has took over all the rights and obligations of AB “Parex” bankas in line with all provisions of the law.

The Lithuanian market remains the business priority of AB “Citadele” bankas. The bank will continue developing programmes for target customer groups started in 2006: crediting for SME, the Agro programme for farmers and agricultural companies, the “Senjorų” programme for pensioners and Private Banking services. The bank’s daughter company/subsidiary UAB “Citadele faktoringas ir lizingas” will primarily focus on leasing of passenger cars for individual clients.

“Citadele” bank group in Lithuania is represented by AB „Citadele” bankas and its subsidiary UAB „Citadele faktoringas ir lizingas“ as well as UAB „Citadele investicijų valdymas“. Branch network of AB „Citadele” bankas in Lithuania consists of 13 client service units and Private banking division.

The group of the new AS “Citadele banka” will have operations in 12 countries: Latvia, Lithuania (AB “Citadele” bankas), Estonia, Sweden, Germany, Switzerland, Kazakhstan, Belarus, Russia, Ukraine, Moldova and Azerbaijan.

In all the countries where it plans business AS “Citadele banka” group will pursue a common product creation and development and customer service strategy and will offer its clients top-quality services. It should be noted that “Citadele” bank will also continue co-operation with American Express and will remain the American Express exclusive partner in Latvia and Lithuania with the right to issue and service American Express credit cards.