The first loan centre for Aizkraukles Banka

September 18, 2003 / Banking

On Thursday, 18 September, the first AS Aizkraukles Banka (AB) loan centre "Domina" will be opened at the new trade centre "Domina Shopping" at 3 Ieriki Street, in the territory of the former VEF Factory not far from Zemitani Bridge. This will be the Bank’s first specialized loan centre offering loan facilities to the clients.

According to AB’s long-term operation strategy, the Bank is gradually becoming a specialized mortgage bank for private individuals. AB is planning to set up several specialized loan centres in Riga, so as to increase its mortgage loan market share in Riga to 15 % by the end of 2005.

Longer Hours Plus Saturdays and Sundays

The new AB’s loan centre will have working hours comfortable for the clients: from 10.00 to 20.00 on workdays and from 10.00 to 18.00 at weekends. The centre will offer all facilities related to obtaining loans and loan servicing — free of charge consultation, submission of loan applications, signing the agreement and opening a current account.

Application for the Loan Campaign has Started

Since last week AB’s campaign, during which ten interest-free mortgage loans will be raffled, has been continuing. Private individuals submitting mortgage loan applications to AB by 30 November and concluding a loan agreement with the bank by 10 December may become participants of the campaign. The ten lucky, who will not have to pay the loan interest, will be drawn among those to whom AB will already have granted a mortgage loan within the above term. The first raffle, during which the first four interest-free loans will be drawn, is scheduled for 10 October.

Participants in the campaign may be those Bank’s clients for whom the mortgage loan is granted for the purpose of purchasing, refurbishment or construction of a house or flat or for re-financing loans granted for the above purposes by another credit institution. In September the Bank is offering mortgage loans at annual interest rates from 4.9%.

Aizkraukles Banka is the sixth largest bank in Latvia as to the amount of assets. As of the end of August, AB’s total loan portfolio was 53 537 253 lats, and it has increased by 27,7% since the end of the previous year. AB’s mortgage loan portfolio reached 17 588 952 lats, increasing this year by 61,4%.

Aivars Rauska,
Deputy Head of Customer Service Division of Aizkraukles Banka