- New financing for private, SME, and corporate customers reached EUR 765 million in H1 2025 – a 23% year-over-year increase.
- Citadele achieved an all-time high loan portfolio of EUR 3,539 million in the first half of 2025, accompanied by continued improvement in portfolio quality.
- As of 30 June 2025, Citadele’s active customer base reached 408,000 — reflecting a 6% year-over-year increase.
- Citadele’s Baltic operations delivered a net profit of EUR 43.3 million in the first half of 2025, resulting in a return on equity of 15.4%.
- Klix, Citadele’s e-commerce checkout solution, continued strong growth, processing EUR 492.9 million across 12.8 million transactions.
Citadele delivered sound financial performance in the first half of 2025, with operating income reaching EUR 111.5 million and net profit from Baltic operations totaling EUR 43.3 million. Return on equity stood at 15.4%, while the cost-to-income ratio improved to 47.1%. Citadele achieved a record-high loan portfolio in H1 2025, accompanied by a further improvement in portfolio quality.
“In the first half of 2025, Citadele delivered strong results and reinforced its role as a key partner in driving sustainable growth across the Baltic region. Our customer base grew to 408,000, reflecting rising demand and continued investment in digital services. Despite the complex global environment, we remained focused on supporting our clients—achieving a 23% increase in new lending and an 8% expansion of our loan book since year-end, underpinned by solid asset quality. Q2 marked a key milestone with the successful sale of Kaleido Privatbank AG, enabling us to concentrate fully on our core Baltic markets. I’m proud of the trust our clients and colleagues place in Citadele as we continue working together to support growth across the region" - Rūta Ežerskienė, CEO and Chair of the Management Board
Innovations and development
During Q2 2025, a series of important updates were introduced to the Citadele Mobile App, further strengthening Groups’ digital offering. New features include the Piggybank savings tool, enhanced screen customization for improved privacy and usability, and a new onboarding flow that enables clients to open accounts to children directly through the app. Citadele further redesigned Mobile App to increase user experience, enhanced automated digital sales journeys, and implemented various improvements to boost app stability and performance. These developments reflect the Groups’ ongoing commitment to providing a seamless, secure, and user-friendly digital banking experience for its clients.
Continued growth in new lending
Citadele has continued to support growth and expansion across the Baltic region. New financing for private, SME, and corporate customers reaching EUR 765 million in H1 2025 - a 23% increase year-over-year, mainly impacted by higher lending volumes in the SME segment and private retail. EUR 265 million was issued to private customers, EUR 343 million to SMEs and EUR 155 million to corporate customers. Of this amount, EUR 85 million was directed to green and transition financing, highlighting Citadele’s ongoing commitment to sustainable economic development.
Klix, Citadele’s e-commerce checkout solution, continued its expansion, surpassing 3,300 merchants as of 30 June 2025. The registered user base exceeded 530 thousand with 192 thousand active users. In H1 2025, Klix processed 12.8 million transactions, amounting to EUR 492.9 million.
Expanding Customer Base and Digital Adoption
Citadele continues to expand its customer base, reinforcing its position among private individuals and businesses across the region. As of 30 June 2025, the active customer base reached 408 thousand, marking a 6% year-over-year increase. Digital engagement remains strong, with 86.5% of customers actively using digital channels. The number of active mobile app users rose to 275.8 thousand, reflecting a 7% year-over-year increase. While most digital customers prefer the mobile app, others continue to use internet banking services.
Financial Highlights
In the first half of 2025, Citadele achieved strong financial results, generating an operating income of EUR 111.5 million and delivering a return on equity of 15.4%.
Citadele’s total loan book grew to EUR 3,539 million as of 30 June 2025, marking an 8% increase (EUR 264 million) since 31 December 2024. The financial standing of Citadele customers remains stable, and the quality of the loan portfolio continues to be strong. As of 30 June 2025, the non-performing loan (NPL) ratio stood at 2.1%, improved from 2.3% at year-end 2024. The deposit base reached EUR 3,987 million.
Citadele continued to demonstrate financial resilience as of 30 June 2025. Banks’ total capital adequacy ratio (CAR) stood at 22.6%, while the Tier 1 ratio was 20.3%. The Group’s LCR and NSFR remained at healthy levels, standing at 175% and 139%, respectively, as of 30 June 2025, compared to 181% and 143% at year-end 2024.
Key figures – Baltic operations
| EUR millions | 6m 2025 | 6m 2024 |
Q2 2025 |
Q2 2024 |
| Operating income | 111.5 | 116.1 | 58.0 | 58.3 |
| Operating expense | (52.5) | (56.6) | (26.8) | (28.9) |
| Net credit losses and impairments | (4.5) | 7.0 | (3.9) | 4.1 |
| Net profit from continuous operations (after tax) | 43.3 | 50.9 | 21.9 | 25.4 |
| Return on average equity (ROE) | 15.4% | 19.8% | 15.3% | 19.2% |
| Cost to income ratio (CIR) | 47.1% | 48.8% | 46.3% | 49.6% |
| Cost of risk ratio (COR) | 0.3% | (0.5%) | 0.4% | (0.5%) |
| 30 June 2025 | 31 Dec 2024 | |
| Loans | 3,539 | 3,275 |
| Deposits | 3,987 | 4,023 |
| Loan to deposit ratio | 89% | 81% |
| Common equity Tier 1 (CET1) capital ratio | 20.3% | 19.2% |
| Total capital adequacy ratio (CAR) | 22.60% | 21.4% |
| Non-performing loan (NPL) ratio | 2.1% | 2.3% |
| Liquidity coverage ratio (LCR) | 175% | 181% |
About Citadele
Citadele’s, rated Baa1 (stable) by Moody’s, mission is to modernise the financial industry and offer more opportunities to private individuals and businesses throughout the Baltics. In H1 2025, Citadele issued EUR 765 million in new loans, with its total loan portfolio reaching EUR 3.5 billion, while total deposits reached EUR 4.0 billion. Alongside a modern universal banking platform, 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 account opening with a selfie, payment rings and payments to mobile numbers. Citadele Bank is the Group’s parent company in Latvia, and its subsidiaries and branches operate in Latvia, Lithuania and Estonia.