“In the logistics sector, only companies with a team of professionals can survive. Our team helps us to quickly adapt to uncertain market conditions and find ways to not only maintain but also expand the business. The financing granted by the bank will enable us to significantly renew our vehicle fleet and establish more flexible relationships with our partners,” explained Mindaugas Veselis, Chief Executive Officer of Baltic transline.
From a small transport and expediting company, Baltic transline has grown to become one of the major logistics operators in Europe with over 9,300 customers. The amount of transported cargo grows by an average of 25 per cent every year. In 2019, the company completed 216,703 transport orders.
“Even though many transportation and logistics companies in the world are facing serious challenges due to COVID-19 pandemic, we can clearly see that some of the companies have demonstrated solid flexibility and were able to adapt very quickly and effectively to the drastic changes in the supply chain disruption and to ensure uninterrupted movement of goods across the world. I believe that provided financing would help to Baltic Transline to find new opportunities and strengthen its market position,” says Vaidas Žagūnis, member of the management board of Citadele Bank and Head of the Corporate banking in Baltic countries.
Established in 2000, Baltic transline is a modernly managed international freight forwarding and expediting company that provides various complex logistics services by road and sea transport. There are 9 group’s undertakings operating in the EU and CIS countries: BTL Group, Baltic transline, Baltic transline transport, Baltic transline rental, Ferry Bookings, Transline Europe, Transdepas, and two companies established in 2020 – Baltic transline Sp.z o.o in Poland and Baltic transline GmbH in Germany. In 2019, the revenue of the group grew by 31 per cent securing a turnover of EUR 147.5 million.
There are over 1,585 specialists in the field working for the group. Modern offices of Baltic transline UAB operate in Vilnius, Kaunas, Klaipėda and Kėdainiai.
About Citadele Group
Citadele’s mission is to modernise the banking sector and offer more opportunities to individuals and businesses throughout the Baltics. Alongside classic banking services, Citadele offers its clients a range of services based on next-generation financial technology, including its modern app, contactless payments and instant payments, opening an account with a selfie, and payments to mobile numbers.
In Latvia Citadele is the third largest bank by number of clients, and second by number of business clients. The Citadele Group is managed from Latvia, with subsidiaries and branches in Latvia, Lithuania and Estonia.
In 2019 one of the leading customer service evaluation and improvement companies in Central and Eastern Europe, Dive GROUP, acknowledged Citadele as the bank with the best customer service in Latvia, and second best in Lithuania.
