Published: 2024-05-06 09:42
Photo of Judita Grigelyts (V).
OP Corporate Bank, a business bank belonging to the largest Finnish financial group, lends EUR 100 million to the Lithuanian state-owned energy transmission and exchange group Epso-G. Eur.
The financing provided by the bank will ensure energy projects of strategic importance to Epso-G liquidity, will allow to balance the cash flows of the group during the implementation period of important investments, the bank reports.
The granted borrowing limit is an extremely important means of ensuring financial liquidity for the company group, which helps Lithuania to press towards energy independence, Darius Kaauskas, Finance Manager of Epso-G Group, is quoted in the report.
Generation of local wind, energy storage is the renewable energy that we have to switch to in order to achieve a sustainable economy, and consistent financing is necessary for this, comments Leda Irikeviien, head of the Lithuanian branch of OP Corporate Bank.
OP Corporate Bank in Lithuania has been cooperating with Epso-G group for ten years. The bank provides day-to-day banking services and financing for current loans and investment projects to group companies.
OP Corporate Bank’s branch in Lithuania has been operating for eleven years. It is the fifth largest bank in Lithuania in terms of granted business loan portfolio, where it amounts to 1.3 billion. Eur. In Lithuania, the bank works with large and leading medium-sized companies.
The bank belongs to the Finnish financial services group OP Financial Group, whose revenue last year reached 4.775 billion. Eur, the group employs an average of 13,000 employees.
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