2012-03-06
The Board of the Bank of Lithuania was presented information by the Credit Institutions Supervision Department on the inspection results of AB “Citadele”bankas. The inspection focused on the bank management, internal control, and management of individual risks (credit, liquidity, market and operational). Also, separate issues of the Internal Capital Adequacy Assessment Process were considered.
The Board of the Bank of Lithuania instructed AB “Citadele” bankas to eliminate the deficiencies in its operation identified during the inspection and supervisory review and evaluation processes by 30 November 2011.
AB “Citadele” bankas was instructed to prepare the Action Plan related with the elimination of deficiencies in the bank's risk management systems and other operational shortcomings identified during the inspection and supervisory review and evaluation processes and to submit it to the Bank of Lithuania.
Head of the Administration of AB “Citadele” bankas was instructed to come to the Bank of Lithuania and explain the bank plans on the elimination of the identified operational deficiencies and, after the expiry of a fixed term, to explain the way of their removal.