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State Aid

State Aid Cases

SA.36612 Aid granted by Latvia to AS Citadele banka and AS Reverta (formerly known as AS Parex banka) as well as misuse of aid

Member State: Latvia
Primary Objective: Remedy for a serious disturbance in the economy
Legal basis primary: Art. 107(3)(b) TFEU - Remedy serious disturbance
Legal basis secondary: Crisis - Financial sector - Restructuring Communication 2009-2010
Crisis - Financial sector – extending Communication, 2011
Sector: K.64 - Financial service activities, except insurance and pension funding
Aid instrument: Direct grant/ Interest rate subsidy
Loan/ Repayable advances
Case Type: Ad Hoc Case
Duration: from 31.05.2013
Notification or Registration Date: 30.04.2013
DG Responsible: Competition DG


Decision on 16.04.2014: Decision to initiate the formal investigation procedure
Press release: IP/14/454
Decision Text: Letter to the Member State - authentic language   en  pdf
Publication on 16.05.2014: Official Journal: JOCE C/147/2014


Decision on 09.07.2014: Positive decision
Press release: IP/14/793
Decision Text: Letter to the Member State - authentic language   en  pdf
Published on 16.10.2014
Publication on 03.02.2015: Official Journal: JOCE L/27/2015

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