OP Corporate Bank plc Latvia Branch has concluded a contract on granting a short-term loan in the amount of EUR 100 million to Latvenergo AS for the financing of current assets and management of financial liquidity.
Elmārs Prikšāns, Head of OP Corporate Bank plc Latvia Branch, commented: “In this complicated time when the whole world faces various challenges, including the rise in energy resource prices, we strengthen our cooperation with one of the strategically most important companies for the national economy of Latvia, namely, Latvenergo AS. We are glad to be able to provide the necessary additional investment in the company’s financial stability, thereby strengthening our national economy.”
The agreement on a short-term loan to Latvenergo AS in the amount of EUR 100 million has been concluded for two years. It was concluded for the financing of current assets and management of financial liquidity, thereby providing more flexibility in the company’s finances.
The Latvian branch of OP Corporate Bank plc has been operating since 2012, and during this time has gained a significant role in the long-term development of Latvia and the whole region. OP Corporate Bank plc is the central bank of OP Financial Group, Finland’s largest financial services group, which focuses on servicing large and medium-sized companies.