OREANDA-NEWS. December 02, 2011. Citadele Bank started disbursing funding received from the State Deposit Guarantee Fund to Latvijas Krajbanka depositors today. Today until 14.30 compensation was paid to 4 075 clients across Latvia, and the total sum is 20.5 million Lats, reported the press-centre of Citadele.

Funds to be disbursed to Latvijas Krajbanka depositors are provided to Citadele Bank by the State from Deposit Guarantee Fund.

This funding is held separately from Citadele’s balance. Therefore the compensation money does not depend on Citadele’s activity and vice versa – Citadele’s activity does not depend on these funds. The Bank serves as an instrument for ensuring disbursement of compensation to depositors.