Aizkraukles Banka issues 100% loans

July 11, 2006 / Banking

Loan for purchase of the first home to the amount of 100% of its value

Aizkraukles Banka improves its services continuously. From 1 July, the Bank offers its customers to receive a mortgage loan for purchase of the first home to the amount of 100% of the housing value.

Detailed research of customers and the market

As a specialised credit bank, Aizkraukles Banka implemented such changes on the basis of detailed research of its customers’ needs and the market. From now on, young people who have never owned property before and who do not have sufficient funds for the first instalment, will be able to receive a 100% loan for their first home. In their turn, current customers of the Bank will have such opportunity for other housing too.

Customers fulfil their liabilities in good faith

Pavels Snejersons, Head of the Customer Service Division: «Aizkraukles Banka’s experience shows that our customers fulfil their liabilities in good faith. Therefore we are sure that we may trust our borrowers and advance them loans of 100% of the purchased home value».

Nine years of experience in lending

Currently, Aizkraukles Banka offers 11 mortgage lending programmes. The Bank has worked in mortgage lending for nine years now. Over such period it has gained experience and worked out new products to position itself as a specialised credit bank. As of the end of quarter 1 of 2006, Aizkraukles Banka ranked seventh among 23 commercial banks operating in Latvia in terms of its total assets.

New credit product — AB.karte

Aizkraukles Banka started offering a new credit product — AB.karte to its customers, who may receive a loan to the amount of up to four monthly salaries. The maximum loan amount is 6,000 lats. AB.karte is available to customers of Aizkraukles Banka and of other banks, as well as to persons without an account with any bank.

Aizkraukles Bank is a local bank

The Aizkraukles Banka is 100% owned by Latvian shareholders and carries on its activities both in Latvia and abroad, offering a wide range of financial services to its customers. At the close of 2005, the Bank’s equity amounted to LVL 45.57 million. The Bank’s majority shareholders are Ernests Bernis and Nika Berne — 46.45% shares, Olegs Fils — 46.45% shares.