OREANDA-NEWS. May 27, 2014. “The process of attracting investors to the Citadele Bank is taking place as expected,” informs State JSC “Privatization Agency” (PA).

“Currently PA has received several proposals for purchasing the Citadele Bank's shares from potential investors. The Citadele Bank has developed successfully, and the interest on the part of investors regarding the purchase of the bank’s shares is sufficient for ensuring competition among them. The attraction of investors means that the bank will be able to operate as a full-fledged market player thus opening up broader development opportunities for Citadele. The process of attracting investors to the Citadele Bank has been planned duly and professionally in accordance with the determined schedule.”

Potential investors are currently working on an in-depth study of the bank’s performance indicators. Public offering options or, in other words, the opportunity to list the bank’s shares on the stock exchange is also being analysed along with the scenario of selling the shares. The government of Latvia will adopt the final decision on attracting investors to Citadele in summer after receiving the binding proposals for the direct transaction from investors.