NORD/LB Latvija                                                10.06.2005



NORD/LB Latvija receives EUR 15 million loan with maturity of 5 years



NORD/LB Latvija this week entered into the loan agreement providing

disbursement of EUR 15 million from one of the biggest German banks

Bayerische Landesbank. NORD/LB Latvija is one of the most dynamic and

rapidly growing Latvian banks, and the above loan will be directed to

funding of growth of Latvian enterprises. 



The Chairman of NORD/LB Latvija Management Board Andris Ozoliņš: “These

additional financial resources will facilitate the fast growth of NORD/LB

Latvija bank, and besides we are highly pleased with the fact that having

analyzed the risk parameters and other circumstances this German bank has

granted to NORD/LB Latvija the loan providing particularly expedient

interest rates. NORD/LB Latvija has planned to efficiently use the funds

to finance the development projects of Latvian entrepreneurs both in Latvia

and on the EU market.” 



According to the fiscal results within the last few years the volumes of

NORD/LB Latvija assets, loan portfolio and deposits has grown almost twice

as fast than the average results of the whole banking sector. NORD/LB

Latvija expects further rapid growth both expanding the operational volumes

and extending the branch network. This year the bank has planned to open new

branches in Riga (the first one in Jugla), as well as in Jelgava, Tukums,

and Jūrmala. 





Inquiries: 

Teika Lapsa

NORD/LB Latvija PR Manager

Tel.7015395, 9161561

teika.lapsa@nordlb.lv