The Latvia-based commercial bank, Citadele, posted a net profit of EUR 50.9mn in the Baltic States in the first half of 2024, which was down 21% from EUR 64.5mn in the same period of 2023, bne IntelliNews reports. The bank’s operating income rose by 2% to EUR 116.1mn, with interest revenue increasing by 9% to EUR 95.6mn. Citadele’s loan portfolio totalled EUR 3.049bn at the end of June 2024, which was up 7% from the end of 2023. The bank issued new loans for EUR 621.4mn in the first half of 2024, which was up 45% from a year earlier. In the second quarter of 2024, the bank issued EUR 365.6mn of new loans, which was up 43% over a quarter. Deposits totalled EUR 3.694bn at the end of June 2024, which was down 4% over six months.
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