OREANDA-NEWS. July 21, 2008. This June, referring to the data of UAB Investiciju ir Verslo Garantijos (INVEGA), AB PAREX Bankas took the 1st position among all commercial banks operating in Lithuania according to the number of credits extended with INVEGA guarantee. Guarantees granted to AB PAREX Bankas constituted 21,2 per cent, and the share of those granted to other banks – respectively 18,2 per cent of the total number of guarantees granted within the indicated period, reported the press-centre of PAREX Bankas.

During the first summer month, credits with INVEGA guarantees were extended most actively to Kaunas and Klaipeda entrepreneurs. Small and medium-sized enterprises of Vilnius, Utena, and Marijampole counties also used credits rather actively.

“INVEGA guarantees enable small and medium-sized enterprises to implement investment projects or increase the sales volume by using credit funds without additional pledge of property. INVEGA not only grants a guarantee, but also compensates some part of interest, thus reducing crediting costs for entrepreneurs,” Gintautas Maniusis, Deputy Director of the Corporate Department and Head of Financing Programmes for Housing Renovation and Small and Medium-sized Enterprises, enumerates the advantages of credit guarantees.