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BIGBANK enters the commercial loan market
02 SEPTEMBER, 2010

BIGBANK, which has up to now mainly focussed on consumer loans for private persons and term deposits, has expanded its area of activity by beginning to offer loan products also to companies.

The price level of BIGBANK's credit products directed at companies is similar to the average of the market. To companies with good solvency, proper capitalisation and correct payment behaviour, BIGBANK offers short-term loans with an interest of 8% per year, also bank guarantees are offered.

According to the Chairman of the Management Board of BIGBANK, Targo Raus, the bank sees speed and personal approach as their main competitive advantage on the commercial loan market. "BIGBANK has resources for processing every loan application faster more simply for the entrepreneur than full service banks, wherefore for the client, applying for a loan from us is more convenient and often also more flexible," noted Raus. BIGBANK has set a goal to complete the processing all loan applications in up to 2 working days.

Targo Raus noted that today, BIGBANK is very well capitalised, which gives a good possibility to look at new business directions and activity markets. "Our initial experience shows, that the current state of economy is favourable for entering the commercial loan market," Raus said.

BIGBANK AS is a specialised bank based on Estonian capital that has branches in Finland, Latvia and Lithuania, and provides its products on cross-border basis in Austria and Germany. As of the end of June 2010 BIGBANK had 413 employees and 28 branch offices.