Latvia’s Citadele Bank’s new financing for private, SME, and corporate customers in the region reached €621 million in the first half of 2024. This has contributed to an increase in Citadele's total loan book, which stood at €3.049 billion as of June 30, 2024—a €187 million rise since December 31, 2023, LETA, a Latvian newswire, reported.

Citadele's growth ambitions are reflected in its expanding loan portfolio. In H1 2024, new financing to private, SME, and corporate clients reached €621.4 million, marking a 45% increase compared to the same period in 2023. The second quarter of 2024 saw particularly strong growth, with new financing reaching €365.6 million, a 43% increase quarter-over-quarter, driven by improving macroeconomic conditions and interest rate expectations.

As of June 30, 2024, Citadele's deposit base totalled €3.694 billion, a 4% decrease from the end of 2023.

In support of the green economy, Citadele facilitated €41 million in new lending to businesses and the private sector during the first half of 2024. Notably, demand for green mortgages—loans for homes meeting high energy efficiency standards—doubled in Q2 2024 compared to Q1, reaching €9 million, with €13 million issued in green mortgages in the first half of the year. Additionally, there was significant growth in green business loans and electric vehicle financing, which increased by 27% and 36% quarter-over-quarter, respectively, LETA said.