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Capitalia non-bank lender to open branches in Estonia and Lithuania

BC, Riga, 23.07.2018.Print version
Shareholders in Latvia’s Capitalia non-bank lender have decided at a meeting to set up the company's branches in Estonia and Lithuania, according to information provided by Capitalia to the Nasdaq Riga Stock Exchange, informs LETA.

At the meeting on July 17, the Capitalia shareholders approved establishment of Capitalia branches in Estonia and Lithuania. The branches will launch operations in the aforementioned countries once merger of Capitalia with its daughter companies in Estonia and Lithuania is finalized.


The shareholder's meeting also approved a merger project as a result of which the mother company in Latvia will be merged with daughter companies to form a legal entity, Societas Europaea Capitalia.


In the first quarter of 2018, Capitalia generated EUR 19,904 in consolidated profit, down 38.8% from the same period last year, while its turnover rose 2.6% to EUR 300,920.


Capitalia was established in 2007. The company's bonds are included in the Nasdaq Riga Bond List.

 






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