OREANDA-NEWS. June 21, 2012. Citadele Bank's reputation is one of the fastest growing among corporations and the top increasing one among banks, suggests the Company Reputation Top run by SIA Nords Porter Novelli and newspaper Lietiska Diena, reported the press-centre of Citadele Bank.

Citadele Bank has witnessed a sharp rise by 19 positions, and now it ranks 61 in the Reputation Top. The company which witnessed a steeper rise in reputation was Latvenergo (by 29 positions) whereas Latvijas Gaze succeeded at an up-slope which was as rapid as the one of Citadele.

According to the results presented by representatives of the banking business, Citadele ranks among top five. One should note that 30 banks operate in Latvia only six of which have made it in the Company Reputation Top 100.

Such a steep rise in reputation indices is the result of the persistent work of our team and our clients' loyalty. During its almost two years of activity Citadele has managed to beat several records which proved to be impossible for companies which are in business for ten years and longer. In 2010 Citadele had to start building its reputation out of the deepest crisis of Parex's reputation (when the reputation of Parex had fallen to an all-time low in Company Reputation Top). The fact that Citadele Bank started generating profit earlier than planned in the bank's restructuring plan speaks volumes of the bank's swift development: Citadele was recognized as the third most active bank in lending as early as last year. Besides, Citadele repaid all term deposits to the state before deadline.

Citadele's determination to become the most valuable financial group in the Baltic States, i.e. the best partner for clients and the best employers for its personnel, plays an important role in the further development of its reputation.

The Reputation Top, developed by Nords Porter Novelli, public opinion research centre SKDS and Dienas Bizness, is the largest corporate reputation study in the Baltic States. The Top was launched in 2005 and its methodology was developed by Nords Porter Novelli in collaboration with Roberts Kilis, anthropologist and professor at Riga Stockholm School of Economics. The aim of the Corporate Reputation Top is to introduce new standards for assessing the activity of companies and to facilitate the development of a business environment which operates responsibly towards the society.