OREANDA-NEWS. We would like to inform you that consistent with strategy to exit the Latvian market prudently and responsibly, GE Money Bank stops all banking operations as of September 20. In line with signed agreement with Citadele bank, current accounts, deposits, saving accounts and performing loans of GE Money Bank Latvia customers have been transferred to Citadele bank. From 23 September Citadele will continue provision of service to GE Money Bank customers.

Services Citadele has taken over:

Citadele bank has taken over: As of September 23 Citadele bank has taken over from GE Money Bank resident and business current accounts (account numbers are changed), deposits, savings accounts and loans (including overdrafts and credit lines), repayment of which a customer has settled in accordance with the agreement entered into with GE Money Bank. Upon transfer of these services GE Money Bank customer has automatically become a customer of Citadele bank and new current accounts have been opened.

Management of GE Money Asset Management fund and 2nd and 3rd pension tier plans is transferred to Citadele group company IPAS „Citadele Asset Management”. Customers of these services will receive more detailed information about transfer of the 2nd and 3rd tier funds separately.

Citadele bank has not taken over: Part of GE Money Bank customer loans is not transferred to Citadele (int. al. overdrafts or credit card limits), for which the customer has not settled payments in a duly manner in accordance with agreements entered into with GE Money Bank.

If you have not managed to this yet, we invite you to inform your employer, the State Social Insurance Agency (VSAA) or other partners who transfer funds to your account (salary, pension, benefits, etc.) about transfer of funds to your account in Citadele bank (or any other bank whose services you are using).