Banks, Financial Services, Latvia, Loan

At the beginning of May, EUR 50 million (LVL 35.14 million) were deposited in DZ Bank AG, which was one of the main transaction organizers.

By that, all the bank's liabilities have been fulfilled. A new syndicated loan is not planned at the moment.

This February, Aizkraukles banka repaid the syndicated loan installment of EUR 70 million (LVL 49.196 million).

The contract on receiving the EUR 85 million (LVL 59.738 million) syndicated loan was signed last year in July. The main transaction organizers were the Bayern LB, the DZ BANK, the HSH Nordbank, and the RZB.

According to the contract, the syndicated loan was due July 7, 2009. However, the bank decided to repay the last installment before the deadline, as it is possible to save the expanses for maintaining the minimum reserves in that way.

During the first five months of the year, bank's deposits have increased12.3 %, totaling LVL 796.9 million. However, the lending portfolio is still decreasing. Aizkraukles banka capital and reserves totalled LVL 80.3 million on May 31.