More than one fifth of “Invega” guarantee portfolio came to Šiaulių bankas


In the course of first half-year of 2007 Šiaulių bankas took the leading position according to the number of guarantees provided by the “Investment and Business Guarantees” (“Invega”) to ensure the repayment of loans granted to businesspeople.

Šiaulių bankas has been granted with 21.8 per cent of the guarantees given during the mentioned period of time to promote the funding of small and medium-sized business projects. According to the total number of guarantees provided by “Invega” the second place has been taken by SEB bankas with 19.5 per cent, the third one has gone to Ūkio bankas with 18.3 per cent - informs “Invega” in its press release.

During the six months of this year “Invega” has granted 262 guarantees to the banks for the loans made to small and medium-sized business. The total amount of guarantees comprised of LTL 83.3 million. In comparison with the same period last year the amount of secured loans has increased by 1.7 times up to LTL 126 million. This year the smallest guarantee amount provided by “Invega” was LTL 15 635 while the biggest one comprised of LTL 1.6 million.

The businesspeople from Vilniaus, Kauno, Panevežio, Telšių and Marijampolės regions were the most active in using the services provided by “Invega” and applied the secured loans to develop the woodwork production, construction business, catering and hotel services mainly.

Šiaulių bankas has been the first from all the Lithuanian banks to sign an agreement with the “Investment and Business Guarantees” UAB providing guarantees to enterprises, which has started operating more than five years ago. This public institution provides up to 80 per cent guarantee to loans and subsidizes up to 50 per cent of interest.

Seeking to improve the business lending conditions, Šiaulių bankas has entered into collaboration agreements with the public institution “Lithuanian Environmental Investment Fund” and “Rural Credit Guarantee Fund” UAB that provides guarantees and loan subsidies the projects located outside the territory of the town.