Šiaulių Bankas is a leader in provision of loans to the farmers
For already 16 years Šiaulių Bankas has been co-operating with the Agricultural Credit Guarantee Fund (ACGF), which provides guarantees to banks and credit unions for the loans taken by farmers, rural entrepreneurs and processors of agricultural goods for investments or purchase of some certain assets. According to the latest results Šiaulių Bankas is the leader in provision of of loans to farmers in Lithuania.
During the three quarters of 2015 more than one agriculture-related indicator grew up: number of ACGF guarantees increased, number and size of credits issued by banks grew up, farmers and rural businessmen borrowed more actively than before.
In providing guarantees, ACGF co-operates with all the banks and a large part of the credit unions operating in Lithuania. But this year Šiaulių Bankas providing the credits to the farmers with guarantees clearly surpassed - during the three quarters of this year the bank issued 11.9 million euro guaranteed credits, that is more than 40 per cent of all amount of credits with guarantee!
One of Šiaulių bankas’ strategic objectives is to foster small and medium-sized business and farmers of Lithuania. Totally, Šiaulių bankas issued 188 loans guaranteed by Agricultural Credit Guarantee Fund. Most of these credits this year were used by farmers and rural entrepreneurs from Kaunas, Utena and Vilnius counties. Farmers and businessmen mostly invested in crop production, dairy farm modernization, alternative business development (forestry, logging and so on).
First half of 2015 indicators:
Source: ACGF website www.garfondas.lt.