Šiaulių Bankas - the largest issuer of credits with guarantees to farmers
Šiaulių Bankas is the most active bank issuing credits with guarantees to farmers. According to the data of the Agricultural Credit Guarantee Fund (ACGF), more than one fifth (21%) of all credits with guarantees issued to farmers, rural entrepreneurs and processors of agricultural products was granted by Šiaulių Bankas.
In January-September this year, Šiaulių Bankas in cooperation with ACGF issued credits with guarantees for 4.4 million euros and the amount of guarantees amounted to 3.3 million euros. Compared to the same period last year, during the three quarters of this year, the amount of credits with ACGF guarantees granted by Šiaulių Bankas has increased by almost three times.
"We are glad that most credits with guarantees for agriculture and rural business are issued by Šiaulių Bankas. We encourage farmers and businessmen to use guarantee instruments actively - both for investments in farm development, acquisition of technology and land, and for the purchase of short-term assets - fertilizers, seeds and technical spare parts. This year, the amount of guarantees provided by Šiaulių Bankas has tripled which indicates that our rural business trusts our financial solutions ", - said Laimutė Bugenienė, Project Manager at Finance Service Department of Šiaulių Bankas.
During the three quarters of this year, credit institutions lent 25.8 million euros to the agricultural sector. ACGR provided guarantees in the amount of 19 million euros to credit institutions for these credits.
Compared to the same period of the previous year, the number of credits granted to farmers and rural entrepreneurs increased by 20% whereas the amount of guarantees granted to them increased by about 10%.