OREANDA-NEWS. May 15, 2009. Similar to the procedure of repaying the first syndicated loan at the beginning of the year, Aizkraukles Banka (AB.LV) has again placed a deposit of EUR 50 million (more than a half of the syndicated loan amount) with DZ Bank AG — one of the syndicated loan arrangers, reported the press-centre of Aizkraukles Banka.

The deposited funds will be used for repaying the bank last syndicated loan on 7 July this year, complying with the agreement terms and conditions. Before the repayment date, the deposit amount will be replenished to cover the total of the loan principal and remaining interest payments.

AB.LV signed the agreement on receiving a loan of EUR 85 M on 8 July, 2008. The syndicated loan will be repaid using the bank own funds, and the loan term will not be extended.

In February this year, AB.LV repaid the previous syndicated loan of EUR 70 million. Thus, the bank liabilities under syndicated loans will be completely discharged after repaying the remaining loan.

During the first four months of 2009, the deposits with Aizkraukles Banka have grown by 11.7%, reaching LVL 792.7 million. The bank capital and reserves has not changed significantly, and as of 30 April they were equal to LVL 80 million.

JSC “Aizkraukles banka” is 100% owned by Latvian shareholders. The bank’s majority shareholders are Oleg Fil — 47.04% shares, Ernest Bernis and Nika Berne — 47.04% shares. The Aizkraukles Banka aim is to become the leading independent private bank in the Eastern Europe, combining all banking services, including asset management and advisory services, in a single customer-tailored offer. Aizkraukles Banka Group includes IPAS AB.LV Asset Management, IBAS AB.LV Capital Markets and other companies.