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Published: 2023-03-17 15:00:47 CET
Citadele banka
Changes board/management/auditors

Changes in AS “Citadele banka” Supervisory Board

Klāvs Vasks, member of AS “Citadele banka” Supervisory Board, has resigned from his duties and is leaving Citadele Supervisory board and respective supervisory board committees.

Johan Akerblom (Johan Åkerblom), Chairman of the Management Board: “We are thankful to Klāvs Vasks for his long-term investment in Citadele. Klāvs has been with the bank since its inception and has supported Citadele in its successful transformation to the modern banking platform we are today. We wish him every success in his next chapter.”

Klāvs Vasks: "The time I have spent on the Citadele Supervisory Board has been an important stage in my career. It has been a challenging period of professional development and it has now come to an end. Since the establishment of the bank 13 years ago, I have been with the bank's team in all the most important stages of the bank's development, and now I can gladly say that Citadele’s role in the Latvian and Baltic financial system has strengthened. The number of customers has greatly increased as well as the amount of financing for companies and households, not forgetting that the bank has developed important financial technology solutions."

Stephen Young, currently taking position of the Member of the Audit and Governance committee (shareholder level), has been nominated to join AS “Citadele banka” Supervisory Board, subject to receiving respective approvals. Stephen is also expected to take over the position of Chairman of the Audit and Governance Committee, previously held by Klavs Vasks.

“To get Stephen on the Supervisory Board is a very natural next step as we already have been working with Stephen in his capacity as Audit and Governance committee member. Stephen will be a great contribution given his background in Audit as well as his experience working in the Baltic’s”, says Johan Akerblom.

Stephen Young: “It is a privilege to be nominated to the Supervisory Board of Citadele bank and to continue to work with the Board and with the Bank’s management. Having spent many years working with financial institutions in the Baltics, as clients in the Audit and Advisory space up until 2015, the opportunity to engage further within the governance of Citadele is a role I am looking forward to.”

Supervisory Board’s re-election will take place during AS ”Citadele banka” Annual Shareholder’s meeting.

About the Citadele Group

Citadele’s mission is to modernise the financial industry and offer more opportunities to private individuals and businesses throughout the Baltics. In 2022, Citadele had 374,000 active customers in the Baltics and issued €1.2 billion in new loans, with its total loan portfolio reaching €2.9 billion, while total deposits reached €3.9 billion.

Alongside classic banking services, Citadele offers its clients a range of services based on next-generation financial technology, including its modern app, contactless payments and instant payments. Citadele was the first in the Baltics to introduce opening an account with a selfie, payment rings and payments to mobile numbers. Meanwhile, businesses make active use of our remote account opening, Citadele Phone POS card acceptance app and Klix universal e-commerce tool, as well as applying for financing to develop their business.

Citadele Bank is the Group’s parent company in Latvia, and its subsidiaries and branches operate in Latvia, Lithuania and Estonia. 


         Līga Ratniece
         Head of Corporate Communications
         Phone: +371 28378366
         Email: Liga.Ratniece@citadele.lv
         Ilona Frīdmane
         Head of Investor Relations & ESG
         Phone: +371 29483327
         Email: IR@citadele.lv