SIA "AgroCredit Latvia" publish unaudited annual accounts for six months of the year 2016.

During the 1H 2016 AgroCredit Latvia has continued its growth, increased the total income and financing amounts. The turnover has increased by 21% in comparison with the responding period of previous year and the credit portfolio has grown by close to 20% since midterm of 2015.

The credit policy of the company has remained constant. The main focus is on financing grain growers, using conservative approach when making the credit decisions, wich has resulted into good portfolio quality standards.

The share capital has been increased during the 1H 2016 to improve the availability of bigger amount and lower cost credit resources.

About company: 

SIA AgroCredit Latvia is a non-bank lender, which was founded in 2011 and since then is offering the credits to Latvian farmers. The main type of services is seasonal financing for grain growers to finance the purchases of fertilizers, seeds, crop protecion chemicals, fuel and other current assets. The loans are repaid in the end of season after the harvest and sales of grain. The major collateral of the the loans are future fixed grain contracts signed with AgroCredit Latvia partners - big grain trading companies. After the delivery of grain, the amount due to AgroCredit Latvia is paid directly by grain trader to the financier. This type of offset has granted very effective repayment process and high credit portfolio quality.

         Ģirts Vinters
         Chairman of the Board
         Phone: 67422208
         e-mail: birojs@agrocredit.lv
         www.agrocredit.lv