Citadele Bank invests EUR 10 mln in SME Finance

Thursday 19 March 2020 14:31 CET | News

Latvia-based Citadele Bank has teamed up with SME Finance, a non-bank factoring provider in Baltics, investing EUR 10 million in the company.

The bank will offer a loan relief program to clients who may have been affected by the COVID-19 in Latvia, lowering the commission fee for settling mobile payments. This is part of the bank’s plan to provide remote access services during the coronavirus pandemic, according to CrowdfundInsider.

The partnership with SME Finance will provide financial assistance to Lithuania’s SMEs. It will also help them with account opening and cash management services.

Citadele Bank has also teamed up with Europe-based peer-to-peer (P2P) lending solution provider, Fellow Finance, in order to promote investments in consumer loans in the Baltics region.

More: Link

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Keywords: Latvia, Citadele Bank, fintech, SME finance, loan relief, coronavirus, Lithuania, commission fee, mobile payments, P2P, Fellow Finance, consumer loans, cash management, lending
Categories: Banking & Fintech
Countries: Lithuania
This article is part of category

Banking & Fintech