OREANDA-NEWS. August 23, 2010. SEB Bank has increased its credit limit by LTL 52 million that was issued a year ago to “Linas Agro” – member of “Linas Agro Group”, engaged in international trade of agricultural products. Financing that has increased more than 1.5 times from LTL 80 to 132 million has been issued for the development of the company’s activities and its working capital, reported the press-centre of SEB Bank.

“Despite economic changes both locally and in the global markets, public limited company “Linas Agro Group” remains one of the largest and most promising agricultural products exporters in the Baltic region. Considering the Group’s successful activity development, its strengthened capital base and the significance of its relevant investments, we are aiming at strengthening our cooperation when remaining the Group’s key financial partner,” says Aivaras Cicelis, Vice President and Head of Corporate Banking Division of SEB Bank.

Chief Financial Officer of “Linas Agro Group” Tomas Tumenas says that right now the situation is especially favourable for the development of the Group companies’. “In agricultural production trade signals of recovery are already manifest, therefore, successful cooperation with SEB Bank will enable our Group to entrench in global markets and maintain the leader position within the Baltic region. Lending volume enlargement is a measured step that will strengthen Groups financial stability and enable to realize development plans when expanding buying up scale of grains and selling scale of fertilizer to farmers,” T. Tumenas says.