Rietumu Bank extended a EUR 8 million credit line to the Latvian company “West Kredit” for mortgage lending development in Latvia. The financing is provided as part of the bank’s lending programme aimed at non-banking financial companies with well-developed infrastructure and solid business experience.
At present, Rietumu is implementing the “wholesale” lending programme aimed at non-banking financial companies, including consumer lending and leasing companies. Rietumu collaborates with companies both in Latvia and neighbouring countries – Lithuania, Estonia, Russia and Belarus. Extension of credit line to West Kredit is another step forward.
“Current demand in the Latvian real estate market depends on foreign investors mainly. However, the internal demand is essential to make this market stable. We are certain that the bank’s provided financing will open new opportunities to West Kredit’s customers. This credit line signifies the high level of mutual trust between our companies, based on collaboration with West Kredit’s management established years ago”, says Vadim Alekseyev, Vice-President of Rietumu.
“We have been operating in the consumer lending market for more than 15 years and can offer favourable conditions to our customers. Our core advantages – no excess formalities and speed. For instance, a loan for purchase of house or flat can be granted in 1-2 days. At the same time, our conditions are quite simple and clear for borrowers”, says Arthur Silantyev, the Board Member of West Kredit.
West Kredit grants loans for purchase and refurbishment of real estate and other objects. Loans are termed from 3 months to 15 years. The company also offers refinancing services for borrowers willing to change their creditors and loan repayment conditions.
Eleonora Gailisha Mass Media and Public Relations
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