Citadele Banka AS
- Company typePublic
- Founded2010
- HeadquartersRiga, Latvia
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
Citadele Banka AS firmographics
Firmographics- Name
- Citadele Banka AS
- Legal name
- AS Citadele banka
- Website
- https://citadele.lv
- Company type
- Public
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Ownership category
- akta.pro rank
Citadele Banka AS industry classification
Industry- Product category
- Retail Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- Commercial Banks, Nec (6029)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industry
- Digital Banking & Neobank Platforms (BPAMAFAD)
Keywords
Where Citadele Banka AS is headquartered
LocationHeadquarters
- HQ city
- Riga
- HQ country
- Latvia
- HQ region
- Europe
Offices4 records
Markets served
Citadele Banka AS business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Net Interest Income: Traditional banking interest revenue from lending activities including consumer loans, mortgages, auto loans, and business lending. Interest spreads generated between deposit rates paid to savers and loan rates charged to borrowers.
- Fee and Commission Income: Transaction fees, account maintenance fees, card fees (annual fees for C cards), payment processing fees, and service charges for banking products.
- Leasing Operations: Revenue from Citadele Leasing subsidiary providing auto leasing, equipment financing, and factoring services. Generates both interest income and fee income.
- Insurance Distribution: Revenue from cross-selling insurance products through the bank channel, including life insurance (CBL Life), accident insurance, vehicle insurance, and home insurance via partner AAS CBL Life.
- Asset Management: Revenue from pension fund management (2nd and 3rd pillar via CBL Atklātais pensiju fonds) and investment fund management (IPAS CBL Asset Management), including management fees and performance fees.
- Private Banking: Wealth management services for high-net-worth individuals including C Infinite premium card, investment advisory, and exclusive banking services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Consumer loans: 200-25,000 EUR, terms 18-84 months |
| Subscription | Monthly | Mortgage loans: variable rates linked to Euribor |
| Subscription | Annual | Payment cards: tiered annual fees from free to premium |
| Subscription | Monthly | Savings products: deposit accounts and term deposits |
| Transaction based/ take rate | Pay-as-you-go | Investment products: funds, stocks, bonds |
| Subscription | Monthly | Insurance products: life, accident, vehicle, home |
| Subscription | Monthly | Pension products: 2nd and 3rd pillar |
Go-to-market motion3 records
Distribution channels8 records
Marketing channels7 records
Citadele Banka AS product offering
Product offeringCore offering
Citadele Banka AS is a Latvian commercial bank providing retail, corporate, and private banking services across the Baltic states (Latvia, Estonia, Lithuania). Its offering spans current and savings accounts, payment cards (C smart, C prime, C supreme, C Infinite, C lite, Mastercard Debit, Payment Ring), consumer loans, mortgages, auto leasing, factoring, investment and pension products, insurance distribution, and PSD2-compliant open banking APIs, delivered through a digital-first platform with branches and dedicated business portals.
Product overview
Citadele Banka AS operates as a comprehensive financial services group offering a unified digital banking platform with multiple branded product lines. The core banking infrastructure supports retail, corporate, and private banking through integrated digital channels including mobile app, internet banking, and specialized portals. The C-brand product family (C smart, C supreme, C prime, C Infinite, C lite) provides tiered credit and debit cards with lifestyle positioning across segments. Thematic sub-brands (C Wealth, C Home, C Green, C Family, C Lifestyle, C Travel) bundle relevant products for specific customer needs. Core lending products include consumer loans, auto leasing, mortgages, and specialized insurance. The ecosystem is supplemented by investment services (C Trade, pension plans), loyalty programs (C REWARDS, Klix Pay Later), AI-powered support (Adele), and PSD2-compliant open banking APIs. Subsidiaries including CBL Asset Management, CBL Life, and Citadele Leasing extend the product range into fund management, insurance, and leasing.
Differentiator
Problem solved
Functional benefit
Brands
- C Wealth: Wealth management and investment services including pension plans, savings, and investment funds
- C Home
- C Green
- C Family
- C Lifestyle
- C Travel
- C Smart
- C Supreme
- C Prime
- C Infinite
- C Lite
- C REWARDS
- C LEASING
- Adele
- X REWARDS
- Klix Pay Later
- C Trade
- CBL Life
- CBL Asset Management
Products and services
- C smart credit card Everyday-use credit card with contactless payments and C REWARDS loyalty integration, available free of charge with a specialized version for children and youth aged 7-21 to support financial literacy.
- C supreme credit card Premium lifestyle credit card offering exclusive benefits, travel insurance, concierge services, and enhanced cashback rewards for high-spending customers.
- C prime credit card Mid-tier lifestyle credit card combining everyday banking features with travel benefits, purchase protection, and extended warranty programs.
- C Infinite credit card Premium credit card for high-net-worth private banking clients offering exclusive services, personalized limits, and luxury lifestyle benefits.
- C lite virtual card Fully digital virtual credit card designed for new customers seeking a paperless banking experience with instant issuance and digital management.
- Payment Ring Wearable contactless payment ring available in various colors that enables payments by waving the hand, combining fashion with banking convenience.
- Consumer Loan Personal loan for various purposes including home improvements, education, or debt consolidation with online application and 10-minute decisioning, available to non-customers as well.
- Flexible Loan Adjustable loan product allowing customers to customize repayment schedules based on their financial situation and cash flow needs.
- Mortgage Loan Long-term housing loan for property purchase with Euribor-linked variable rates and flexible repayment terms tailored to family needs.
- Green Mortgage Eco-friendly mortgage for energy-efficient or environmentally certified properties with preferential terms to promote sustainable housing.
- Auto Leasing Vehicle financing solution for new and used cars with competitive rates, optional insurance inclusion, and flexible term configurations.
- Electric Auto Leasing Specialized leasing program for electric and hybrid vehicles with favorable rates starting from 1.49% plus Euribor and eligibility for state subsidies.
- Savings Account and Term Deposit Interest-bearing deposit accounts for short and medium-term savings, plus fixed-term deposits with guaranteed rates for customers seeking higher returns with locked-in funds.
- Green Savings Account Savings account supporting environmentally friendly projects, offering a 3.75% interest rate with accumulated deposits reaching nearly EUR 30 million.
- Savings Jar (Krājkase) Digital savings jar with automatic round-up feature that saves spare change from purchases toward designated financial goals.
- 2nd Pillar Pension Mandatory state pension accumulation program providing retirement income through professional fund management via AS CBL Atklātais pensiju fonds.
- 3rd Pillar Pension Voluntary private pension plan offering tax benefits (25.5% income tax return on contributions up to 10% of annual income, max EUR 4,000 deductible) and flexible investment strategies for supplemental retirement savings.
- Lifetime Pension Annuity product providing guaranteed lifetime income payments starting from age 55 using accumulated pension capital.
- C Trade Investment Platform Investment platform enabling customers to buy and trade stocks, bonds, and other securities with real-time market access.
- Life Insurance with Savings Fund Combined life insurance and investment product that builds savings while providing death benefit protection, with annual income tax returns up to 20%, distributed via subsidiary AAS CBL Life.
- Life+ Insurance Comprehensive insurance combining life, accident, medical expenses, and hospital daily allowance in a single policy, distributed via AAS CBL Life.
- Accident Insurance Coverage for over 90 sports and active recreation activities, valid 24/7 worldwide, with psychological support included for serious injuries.
- Vehicle Insurance (OCTA and KASKO) Mandatory motor liability (OCTA) insurance available from 7 insurers with comparison and no processing fees, plus comprehensive (KASKO) vehicle insurance covering damage, theft, and accidents with optional inclusion in leasing payments.
- Home Insurance Property insurance protecting homes and apartments against damage, theft, and natural disasters, with coverage available for mortgage collateral.
- Bill Protection Insurance Insurance covering essential household bills including mortgage and utility payments during unexpected life situations.
- Klix Pay Later Buy-now-pay-later service enabling installment payments at participating merchants via embedded checkout.
- X REWARDS Loyalty Program Loyalty program earning points on card purchases redeemable for rewards, discounts, movie tickets, and charitable donations including Ukraine support, with roughly 160,000 registered participants across the Baltic states.
- C Markets FX and Trading Platform FX and trading platform for currency exchange and financial instrument trading.
- PSD2 Open Banking API PSD2-compliant Open Banking API available on test and live environments, exposing Accounts API (lists, balances, statements), Payments API (SEPA and Instant payments initiation), Consent service, and Fund confirmation service for third-party developers and fintech partners.
- Business Portal (Klix) Business banking portal for managing company finances, invoices, and corporate banking services, including Klix business solutions and analytics.
- Factoring Services Invoice financing platform enabling businesses to unlock cash flow from unpaid invoices, provided via SIA Citadele līzings un faktorings.
- Citadele Leasing Self-Service Portal Self-service portal for managing vehicle and equipment leasing agreements, payments, and insurance.
Quantifiable outcome
- 160,000 loyalty program members generating 2 million EUR in annual redemptions
- +2 more outcomes
Companies that use Citadele Banka AS
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles4 records
Citadele Banka AS technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability6 records
Feature5 records
Citadele Banka AS partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Creditinfo GroupminorCreditinfo Group, a London-based credit information and analytics provider, completed 100% acquisition of KIB Latvia (AS Kredītinformācijas Birojs), increasing from 51% to full ownership. The remaining 49% stake was held by Citadele, Swedbank, SEB, and Luminor, all of whom have now exited their positions in the Latvian credit bureau. Founded in 2013 as Latvia's first licensed credit information office, KIB Latvia serves 200 clients with 15 products.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Citadele Banka AS competitors and assessment
Company assessmentDirect peers
- Bigbank: Bigbank is an Estonian-headquartered bank offering consumer loans, term deposits, and savings products across the Baltics. Direct competitor in lending and deposit products with overlapping digital distribution channels.
- Inbank: Inbank is an Estonian bank specializing in consumer finance, deposits, and partner banking with operations across the Baltics and CEE. Comparable in deposit-taking and consumer lending focus with digital-first distribution.
- Coop Pank: Coop Pank is an Estonian retail bank offering everyday banking, loans, and savings with growing Baltic ambitions. Comparable to Citadele as a digitally-enabled regional challenger bank.
- Luminor Bank: Luminor is a Baltic-focused bank operating in Latvia, Lithuania, and Estonia with retail and corporate banking, lending, and digital services. Directly comparable to Citadele in geography, customer segments, and product suite.
- Swedbank Latvia: Swedbank's Latvian subsidiary is the dominant retail and corporate bank in Latvia, offering deposits, mortgages, lending, asset management, and insurance. Direct competitor to Citadele in the same Baltic retail and corporate banking market with similar product breadth.
- SEB Banka (Latvia): SEB's Latvian subsidiary competes directly with Citadele across retail banking, corporate lending, leasing, and wealth management. SEB is a major Nordic competitor with significant Baltic market share and comparable full-service product offerings.
Emerging players
- N26: N26 is a European digital bank offering mobile-first retail banking across the Eurozone. Comparable to Citadele's digital banking capabilities (mobile app, instant onboarding, card products) but without a Baltic regional branch footprint.
- Revolut Bank UAB: Revolut's Lithuanian-licensed banking entity offers digital-first consumer banking in the Baltics with multi-currency accounts, payments, and cards. Targets similar retail customers with a digital-only proposition, competing for younger segments of Citadele's market.
- bunq: bunq is a European digital bank offering mobile-first retail banking across the EEA, similar to Citadele's digital banking proposition. Comparable as a digital-only challenger bank serving European retail customers.
- Klix (by BluOr Bank): Klix is a Latvian payment and BNPL platform operated by BluOr Bank, offering checkout financing used by merchants including Citadele's own Klix Pay Later. Comparable as a Baltic fintech infrastructure provider competing in payments and embedded finance.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Citadele Banka AS social profiles
Digital presenceCitadele Banka AS compliance and trust
Trust signalCompliance1 record
Citadele Banka AS financial estimates
Financial estimateRevenue estimate
Valuation estimate
Citadele Banka AS leadership team
Management profileNumber of profiles
Profiles8 records
Citadele Banka AS subsidiaries and ownership
Company hierarchySubsidiaries11 records
Citadele Banka AS funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Citadele Banka AS M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Citadele Banka AS
What does Citadele Banka AS do?
Citadele Banka AS is a Latvian commercial bank providing retail, corporate, and private banking services across the Baltic states (Latvia, Estonia, Lithuania). Its offering spans current and savings accounts, payment cards (C smart, C prime, C supreme, C Infinite, C lite, Mastercard Debit, Payment Ring), consumer loans, mortgages, auto leasing, factoring, investment and pension products, insurance distribution, and PSD2-compliant open banking APIs, delivered through a digital-first platform with branches and dedicated business portals.
Is Citadele Banka AS a public or private company?
Citadele Banka AS is a public company. It is classified as unknown and is currently operating.
When was Citadele Banka AS founded?
Citadele Banka AS was founded in 2010. It employs 5,001 to 10,000 people.
Where is Citadele Banka AS based?
Citadele Banka AS is headquartered in Riga, Latvia, in the Europe region.
How does Citadele Banka AS make money?
Six revenue lines are on record. Net Interest Income is the primary driver. The others are fee and Commission Income, leasing Operations, insurance Distribution, asset Management and private Banking.
Who are Citadele Banka AS's main competitors?
Direct peers on record are Bigbank, Inbank, Coop Pank, Luminor Bank, Swedbank Latvia and SEB Banka (Latvia). Emerging players are N26, Revolut Bank UAB, bunq and Klix (by BluOr Bank).
Does Citadele Banka AS have an API?
Yes. PSD2-compliant Open Banking API available on both test and live environments. Developers can access Accounts API (account lists, balances, statements), Payments API (SEPA and Instant payments initiation), Consent service for secure access, and Fund confirmation service. Requires token authentication via form submission for Sandbox API access. Developer documentation is at developer.citadele.lv/en/portal.
What industry is Citadele Banka AS in?
Citadele Banka AS's product category is Retail Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of BPAMAFAD, Digital Banking & Neobank Platforms. Its NAICS code is 522110 and its SIC code is 6029.