OREANDA-NEWS. March 11, 2013. The global financial journey Euromoney has declared the Citadele Bank to be the best locally owned bank in Latvia.

The Citadele Group received 10 awards from the magazine, nine of them in relation to operations in Latvia and the 10th in relation to our work in Lithuania (“Best for Relationship Management in Lithuania”).

“These awards mean a great deal to us, as they are the result of the self-denying work of our employees in terms of successful implementation of the bank’s strategy. I am particularly delighted that we have been recognised the best local bank in Latvia. This award will join the others won over the past year - Best governed state-owned company in the Baltics and European Business Awards Top 100,” says Guntis Belavskis, CEO of Citadele Bank.”

Citadele received awards in the following categories: Best Local Bank in Latvia, Best for High Net Worth II Individuals (USD10 Million to USD30 Million), Best for Equity Portfolio Management, Best for Fixed Income Portfolio Management, Best Range of Advisory Services, Best for Foreign Exchange, Best for Commodities Investments, Best for Managed Futures, and Best for Inherited Wealth & Business.

Euromoney is a leader in the global world of the financial media, regularly conducting studies of the banking industry, including a quantitative and qualitative study of private banking services which it conducts every year. Before determining the winners in each category, Euromoney reviews various factors such as the amount of managed assets and growth therein, profitability, client numbers, and so on. All nominees are also evaluated by professionals from the sector.