Banks, Energy, Financial Services, Gas Market , Latvia

International Internet Magazine. Baltic States news & analytics Monday, 19.08.2019, 02:53

OP Corporate Bank allots additional financing of EUR 20 mln to Latvijas Gaze

BC, Riga, 06.09.2018.Print version
Latvian branch of Finland's OP Corporate Bank Plc has extended cooperation with the joint-stock natural gas utility Latvijas Gaze by increasing its credit line for the company by EUR 20 mln, OP Corporate Bank Plc branch's representatives told LETA.

"Since launching operations ten years ago, the Latvian branch of OP Corporate Bank Plc has been playing an important role in the long-term development of the region's businesses. We are pleased that over these years, we have developed steady and lasting cooperation with Latvijas Gaze, a very important company to the Latvian economy," said Elmars Priksans, head of the Latvian branch of OP Corporate Bank Plc.

The increased credit line will help improve Latvijas Gaze's financial capacity and flexibility, and enable the company to take active part in natural gas trade.

In 2017, Latvijas Gaze posted EUR 281.571 mln in turnover and EUR 24.217 mln in profit.

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