Teksts
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Joint Stock Company Parex banka has repaid the principal of
deposits made by the State in the amount of 6 million Lats to the
Ministry of Finance before deadline. Presently the State has
recovered 70 million Lats from Parex banka and received 98 million
Lats in interest payments for using aid granted by the State.
Additionally Parex banka has carried out repayment of State
guaranteed syndicated loan in the amount of 164 Lats, thus
releasing the State budget and tax payers from substantial loan
liabilities.
Chairman of Parex banka’s Board comments: “I would like to remind
that only problematic loans with serious repayment problems are
left in the bank’s balance. This means that our everyday work is
related with clients who either are incapable of performing their
liabilities toward the bank or who do not wish to cooperate and
settle their debt liabilities. Also, it is no secret that we
frequently encounter with significant counter activity in Latvia
and abroad because the amount of several clients’ liabilities is
millions of Lats. For this reason I can claim that every Lat
recovered by our team is the result of hard work and I have
reasonable grounds to be satisfied with our accomplishments.”
Since 1 August 2010 Parex banka has recovered over 200 million Lats
from restructuring problematic assets. The largest part of the
recovered funds was channelled to repayment of the syndicated loan
worth 164 million.
Additional information:
Parex banka’s activity is focused in three main directions – loan
restructuring, debt recovery and real estate management. The
proportion of real estate in Parex banka’s agenda tends to increase
– mostly this is alienation, taking over and management of
property. In order to acquire the necessary funds for repayment of
investments made by the State Parex banka plans to sell real estate
at the most beneficial price as the situation in the real estate
market improves. Parex banka’s real estate portfolio contained over
800 objects as of 30 September 2011.
Detailed information available at:
Marita Ozoliņa-Tumanovska
Head of Communications and Marketing Directorate
Tel. 67779142 or 29287169,
e-mail: Marita.Ozolina@parex.lv
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