Highlights
- Citadele delivered a solid financial performance in 2025, with operating income of EUR 221.5 million and net profit from continuous operations reaching EUR 84.7 million.
- The Group demonstrated resilient profitability, achieving a return on equity of 14.6% alongside further improvements in cost efficiency. Operating expenses decreased by 4% year‑over‑year.
- Citadele provided EUR 1.6 billion in new financing in 2025, an 18% year-over-year increase, supporting households, SMEs, and corporate clients across the Baltics, and reinforcing the Group’s role in regional economic development.
- The loan portfolio grew by 15% year-over-year to EUR 3.8 billion, reflecting continued demand for financing across the Baltic region.
- In Q4 2025, asset quality further strengthened, with the Stage 3 loans gross ratio improving to an all-time low of 1.7%.
- Citadele maintained a solid capital position, with the Group’s Capital Adequacy Ratio (CAR) reaching 22.3%, enabling further expansion of the loan portfolio.
- Group liquidity remained firm, supported by a 7% year-over-year increase in the deposit base to EUR 4.3 billion as of 31 December 2025.
Innovation and development
Citadele places strong emphasis on innovation and remains committed to continuously enhancing its services and products to meet the evolving needs of individuals, families, and businesses. This commitment was reflected in several important developments during 2025. The bank introduced the Piggybank savings tool and delivered a series of meaningful updates to the mobile app, including enhanced screen‑customisation options, a new onboarding flow that allows clients to open child accounts directly in the app, and a redesigned interface that improved user experience. Citadele also launched Click to Pay for Visa cards, providing a safer and more convenient purchasing experience, and expanded its retail lending offering with the Home Energy Efficiency Loan - its first unsecured green‑eligible product - and the Small Home Loan for broader home improvement needs.
Additional milestones strengthened Citadele’s digital and innovation roadmap. The bank launched a digital insurance portal in Latvia and introduced C‑Trade, a user-friendly platform that allows customers to trade funds, shares, ETFs, and bonds directly through the internet bank. Across the organisation, Citadele continued advancing AI‑powered capabilities - from a growing suite of AI agents across business functions to improvements to the virtual assistant Adele and the introduction of a new document‑intelligence platform - all contributing to elevated customer experience and efficiency. Each initiative was developed with a responsible approach grounded in strong risk management, transparency, and data protection standards, ensuring that innovation continues to reinforce the trust customers place in Citadele.
Citadele’s e‑commerce solution Klix continued its rapid growth in Q4 2025: 3.5 thousand merchants, 587 thousand registered users, and an 11% increase in active users. Over the year, Klix processed 28.2 million transactions amounting to EUR 1.12 billion (+56% year‑over‑year).
Service quality and digital development drive customer base growth
Citadele continued to grow its customer base across private and corporate segments throughout the Baltics. At the end of 2025, the number of active clients reached 412.4 thousand (+3% year‑on‑year). Digital engagement remained high - 86.9% of clients actively use digital channels, while mobile app users reached 286 thousand (+6% year‑over‑year).
Customer service and advisory quality remain a top priority. For the eleventh year in a row, the DIVE survey awarded Citadele the highest score in Latvia, while the bank also maintained strong positions in Lithuania and Estonia.
Financial results
In 2025, Citadele reported EUR 221.5 million in operating income and a return on equity of 14.6%. Citadele maintained notable cost efficiency - operating expenses decreased by 4% in 2025, to EUR 108.9 million.
The loan portfolio reached EUR 3.8 billion at the end of 2025 (+15%). During the year, Citadele issued EUR 1.59 billion in new loans (+18%). Portfolio quality improved - NPLs fell to a historically low level of 1.7% (vs. 2.3% at the end of 2024).
Capital adequacy remained strong - total CAR was 22.3%, while CET1 reached 18.2%.
Customer deposits increased by 7% (+EUR 281 million), reaching EUR 4.3 billion. Liquidity ratios remained solid - LCR 181%, NSFR 141%.
Key figures – Baltic operations
| EUR millions | 2025 | 2024 |
| Operating income | 221.5 | 234.8 |
| Operating expense | (108.9) | (113.6) |
| Net credit losses and impairments | (4.5) | 0.6 |
| Net profit from continuous operations (after tax) | 84.7 | 94.5 |
| Return on average equity (ROE) | 14.6% | 17.5% |
| Cost to income ratio (CIR) | 49.2% | 48.4% |
| Cost of risk ratio (COR) | 0.1% | 0.0% |
| 31 Dec 2025 | 31 Dec 2024 | |
| Loans, EUR bn | 3.8 | 3.3 |
| Deposits, EUR bn | 4.3 | 4.0 |
| Loan-to-deposit ratio | 87% | 81% |
| Common equity Tier 1 (CET1) capital ratio | 18.2% | 19.2% |
| Total capital adequacy ratio (CAR) | 22.3% | 21.4% |
| Non-performing loan (NPL) ratio | 1.7% | 2.3% |
| Liquidity coverage ratio (LCR) | 181% | 181% |
About Citadele Group
Citadele’s mission is to modernise the financial sector by offering a range of next-generation financial technology-based services alongside traditional banking products, serving both private individuals and entrepreneurs across the Baltics. In 2025, Citadele issued EUR 1.59 billion in new loans, with the total loan portfolio reaching EUR 3.8 billion and deposits growing to EUR 4.3 billion. Citadele Bank is the Group’s parent company in Latvia, and its subsidiaries and branches operate in Latvia, Lithuania and Estonia.