OREANDA-NEWS. February 02, 2011. Citadele Bank repaid 46.6 million Euros or 32.8 Lats to Ministry of Finance of the Republic of Latvia, half a year before the appointed time. This is already the second payment made during the last five months that Citadele has reimbursed to the State ahead of the schedule, reported the press-centre of Citadele.

Juris Jakobsons, Chairman of the Board: “One of our main goals is to repay the funds invested by the State at the earliest convenience and we are approaching this goal purposefully. Thanks to professionalism of the employees of Citadele’s branch offices and managers as well as to loyalty of our clients, we have achieved better results in attracting deposits than it was planned. This has enabled Citadele to repeatedly repay the State a part of the funding ahead of the schedule.”

After the repayment, the amount of funds deposited in Citadele Bank by the Ministry of Finance has decreased to 139.8 million Euros or 98.2 million Lats.

In accordance with previous announcements, Citadele Bank repaid 17.3 million Euros or 12.1 million Lats ahead of plan in September 2010.

Citadele is the largest local Bank in Latvia with branch offices in other countries.