Trasta komercbanka receives 16-million EUR Syndicated Loan

15.11.2007

 

On 15 November, Trasta Komercbanka signed an agreement on receipt of a syndicated loan in the amount of EUR 16,000,000 with a one-year repayment term. 

Raiffeisen Zentralbank Osterreich AG is a lead arranger and agent of the loan. In total, seven banks from six European countries participated in the project. The loan will be used for development of the bank and expansion of its activities in the international market, including financing of trading operations. 

Chairman of TKB Board Gundars Grieze comments: "The interest in participation in the first syndicated loan of Trasta Komercbanka exceeded the originally announced 10,000,000 euro loan and on balance reached 16,000,000 euro. Taking into account a relatively volatile situation in the international money market, we view receipt of this loan as manifestation of trust in the Latvian banking sector, and confirmation of the growth potential of Trasta Komercbanka."
 

This year, in common with previous years, TKB is again one of the fastest growing credit institutions in Latvia. According to the results of the first three quarters of the year, Trasta Komercbanka occupies the leading position among Latvian banks in return on equity (ROE – 61.88%) and second place in return on assets (ROA – 4.47%). In September, TKB successfully completed issuance of mortgage bonds for the amount of 5,000,000 euro.



Julia Jurgele
PR Specialist

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