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Business news, 01.03.2004 13:50

Baltiisky Bank has obtained a new credit line from Germany

Donau-Bank AG The closed joint-stock company Baltiisky Bank has obtained a new credit line of 2 million Euros for one year from Donau-Bank AG.

According to the contractís provisions, the credit shall verify the liabilities of the bankís clients on import contracts with European counteragents. The international trade regards the liabilities as the bills of credit and securities to be verified by Donau-Bank. It is beneficial for the Russian foreign traders to use such tools. The management of Baltiisky Bank did not explain what the real purpose of the credit line was. It is quite possible that even a number of companies, the bankís customers, will use the loan to purchase equipment for re-equiping their production.

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