Danske Banka increases the overdraft facility of SIA BIKO-LAT
Danske Bank has signed an agreement with SIA BIKO-LAT on increasing the overdraft facility up to 4 million euro, thus providing additional operating capital in the amount of one million euro for the company.
Head of Danske Banka Raivis Kakānis says: "BIKO-LAT is among the companies who have managed to adapt to changing market conditions in a flexible and considerate manner by both diversifying the assortment of production and finding new sales channels. The company’s contribution to the Latvian economy is not only the considerable export volume, but also a range of newly created workplaces. The company’s approach to the financial planning and business development serve as convincing arguments for the willingness of the bank to further strengthen and expand this cooperation. We are glad that we can provide support for reaching the goals of the company, providing financing and efficient settlement possibilities as well as other financial services."
SIA BIKO-LAT Board Member Valts Kurpnieks explains that the good results of the company are based upon diversification of export markets and the broad range of products: "These aspects have allowed the company to increase the production and export volumes, and the sales volumes are already reaching the pre-crisis level. We have also made important investment this year – we have installed the third planing unit in Valmiera, we have increased the production capacities of windows and doors."
SIA BIKO-LAT Board Member Agnija Dzelme adds: "We started our cooperation with Danske Banka in spring and we were pleasantly surprised by the ability of Danske Banka to make fast and responsible decisions and to support us on our way towards achieving the set goal. I think that in relationship with a bank mutual trust and individual approach are the most important aspects. Of course, costs are important always, therefore also the fact that we pay less for the banking services than we did before is important."