Commerzbank and Šiaulių bankas signed a loan agreement amounting EUR 5 million


On September 28, 2012 Šiaulių bankas and German bank Commerzbank signed the loan agreement regarding granting the amount of EUR 5 million (more than LTL 17 million).

„We‘ve been collaborating with this solid financial institution since 1999 and consequently developing the mutual relations. We‘re grateful that despite various financial threats in Europe and stagnancy in  inter-banking lending  market Šiaulių bankas has been granted a loan“, - says Donatas Savickas, Deputy Chief Executive Officer, Head of Finance and Risk Management Division of Šiaulių bankas AB.

It is the first time when the Commerzbank‘s credit is granted to Šiaulių bankas directly. This German bank together with other European and Asian banks participated in syndicated loans arranged by the European Bank for Reconstruction and Development, which were granted to Šiaulių bankas in 2005 and 2006.

According to Claudia Rittner, Relationship Manager in Frankfurt, and Juan Gruben, Head of the Representative office in Riga, "Commerzbank has always been very active in lending to the Baltic banks, and this loan transaction - the first one after 2006 - clearly shows our strong ongoing trust in the Baltic states and the further fruitful development of the economies and banks there".