Swedbank and Citadele offer relief to clients missing after Nepal-China border floods

Swedbank and Citadele have announced relief measures for clients who went missing in the catastrophic floods that struck the Nepal-China border on August 26. Among roughly 5,600 missing people worldwide are 33 Latvian citizens.

Swedbank suspends loan payments

Swedbank will fully suspend mortgage interest and principal payments for missing clients for 12 months and will not charge interest on their credit cards. Any e-invoices linked to these clients' accounts will continue to be processed as long as funds remain, so relatives are able to top up the accounts. The bank has applied additional protective measures to payment cards and waived daily package fees. For other matters, the bank invites affected families to discuss individual solutions.

Due to data protection rules, the bank can only share detailed information once temporary guardianship over the missing person's property has been established. Courts typically process such applications within a few days, with rulings taking effect immediately; the orphan's court then appoints a temporary guardian empowered to deal with banks and other institutions on the missing person's behalf.

Citadele offers individual solutions

Citadele communications project manager Sintija Priedeslaipa said the bank will offer individual solutions to the families of missing clients and will postpone their loan obligations. Until relatives legally arrange representation, no adverse consequences will apply — the bank will not charge penalties or late-payment interest, terminate contracts early, or pursue debt collection. Once representation is formalized, Citadele asks families to get in touch to agree on the most suitable solution.

Situation at the disaster site

The collapse of a glacier on August 26 triggered a flood of water and mud from a glacial lake, causing extensive damage in both Nepal and China. As of September 9, 1,410 deaths have been confirmed, with a further 5,651 people still listed as missing. A large group of Latvian tourists organized by the yoga community Yantra was near the site, along with a smaller group traveling with local operator Mighty Himalayan Trek. Latvia's Ministry of Foreign Affairs has confirmed three Latvian residents in the region were unharmed, while 33 remain missing. Chinese authorities have confirmed all the missing Latvians were in China and were most likely on the Tibetan side, and have requested DNA samples from Latvia for comparison.