Private client credits of Danske Bank Latvia acquired by Citadele

Private client credit portfolio of Danske Bank A/S Latvia branch acquired by Citadele banka on 1 February 2020

On 1 February 2020, AS Citadele banka (hereinafter Citadele) acquired in the form of a business transfer the Latvian private customers’ credit portfolio that belonged to Danske Bank A/S (hereinafter Danske Bank), the loan and collateral agreements belonging to the portfolio, as well as balances left in the Danske Bank credit servicing account.
The terms and conditions of the customer agreements will not change. However, as of 1 February 2020, the transferred agreements will be subject to the general terms and conditions and the pricelist of Citadele (available at Citadele’s website at www.citadele.lv), and new credit servicing accounts will be opened in Citadele to which payments must be made to fulfil credit agreements.

By 7 February 2020, Citadele banka will inform customers about the new account numbers that must be used for loan-related payments.
As of 1 February 2020, all payments must be made directly to the account in Citadele. For customers’ convenience, however, Danske Bank will transfer all payments paid by them to the Danske Bank credit servicing account to Citadele until 29 February 2020.
Any prepayments to the credit servicing account and payments accrued thereon before 1 February 2020 are automatically transferred to Citadele.

Danske eBank will remain open for limited use until 29 February 2020 – one month after loan transfer. Customers are urged to save all account statements in a safe place. Historical account statements are not transferred to Citadele.

Transfer of collateral agreements

All existing collaterals to credit contracts and all collateral agreements have been transferred to Citadele to secure the obligations arising from transferred credit agreements, and they will remain effective under their existing terms and conditions Customers do not have to do anything in relation to the transfer of collaterals or pay any expenses related thereto.

Insurance

Insurance policy of the collateral will remain valid until its expiry date. We have informed the insurers of the new beneficiary. Citadele must be indicated as the beneficiary when a new insurance policy is taken out.

Further information

If you have any questions about your credit or collateral agreements or future payments, please contact Citadele:

+371 6701 0000
info@citadele.lv

 

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