OREANDA-NEWS. June 21, 2012. The European Business Awards 2012/13 has announced that Citadele Bank has been selected as one of the 15 national finalists among Latvian companies, which will now compete for the title of the European Business Award National Champion for Latvia, reported the press-centre of Citadele Bank.

The judging panel of the European Business Awards gave high evaluation marks to Citadele Bank’s activity for its financial indices, growth, business innovations etc. The 15 finalists from Latvia will continue competing for the title of the European Business Award National Champion in next stage of the competition. Results will be announced in 2013.

Companies from 30 European countries are selected for the European Business Awards every year; these are the companies which are the most successful at demonstrating strong business results, innovation and business ethics. Next on the agenda of the international jury is assessing the national finalists in accordance with the criteria for ethical activity, good relationship with stakeholders and the ability to plan their activity in the long run while applying their business results flexibly to dynamic market conditions.

“Becoming a National Finalist at the European Business Awards is acknowledgement to the bank's successful activity. Development of innovative and unique products to the Baltic market is one of the main directions of Citadele’s activity and it enables the bank to account for a significant share of the financial market. The fact that we are a local bank in the Baltic market and that we can adopt decisions here in Riga means that our hands are free to react to the situation in the market immediately. It also enables us to adjust the bank promptly to the ever changing market conditions by offering highly demanded products and to adapt to the needs of clients. This is the strength which has enabled us to increase the trust of our clients. We have worked hard and we will continue working actively in order to take care of our clients and to develop long-term cooperation,” says Guntis Belavskis, Chairman of Citadele Bank’s Board.

Such Latvian companies as Latvenergo, Tilde, Hotel Bergs, etc. are among the other National Finalists of the European Business Awards.

The European Business Awards was launched in 2007, and focuses on highlighting those European companies which present good business results as well as innovative and ethical activity in the business environment. In 2011, 15’000 organizations from 30 countries, representing various industries, took part in the European Business Awards. The companies that competed in the contest employed more than 2.7 million people across Europe and their total turnover exceeded 1 trillion Euros.

For more information on the European Business Awards and its finalists, please visit www.businessawardseurope.com.