Considering stabilization and recovery trends in the world and Latvian financial markets, and also responding to the government call to warm up Latvian economy, Aizkraukles banka (AB.LV) approved a business lending programme for the following 9 months.

The total amount of financing supposed for lending to businesses is EUR 40 million. This amount is planned to be lent before the end of the first half 2010.

According to the programme, the maximum loan period shall be 3 years, and the maximum amount of a single loan shall be EUR 4 million.

Resuming business lending, the bank is going to focus on two groups of sectors – they are “transit, infrastructure, transport” and “health care, pharmacy”. The loans will be granted mainly for existing businesses’ development.

Alongside the said programme, AB.LV will continue business lending provided sufficient collateral, and also financing of non-residents’ export transactions.

As of the end of August 2009, AB.LV loan portfolio amounted to LVL 601.2 million. As of 31 August 2009, the value of the bank assets was equal to LVL 981.7 million, and the amount of attracted deposits was LVL 786.9 million.

JSC “Aizkraukles banka” is 100% owned by Latvian shareholders. The bank’s majority shareholders are Oleg Fil — 47.04% shares, Ernest Bernis and Nika Berne — 47.04% shares. The Aizkraukles Banka aim is to become the leading independent private bank in the Eastern Europe, combining all banking services, including asset management and advisory services, in a single customer-tailored offer. Aizkraukles Banka Group includes IPAS AB.LV Asset Management, IBAS AB.LV Capital Markets and other companies.