OREANDA-NEWS. January 11, 2012. Lithuanian residents are more and more actively borrowing from Ukio bankas. Within January - November of 2011 Ukio bankas granted consumer loans to residents in the amount of LTL 10.5 million – over 4 times more than in the same period of 2010. Within 11 months consumer loans were granted to approximately 1500 natural persons – a number is 5 times bigger than  at the same period of 2010, reported the press-centre of Ukio Bankas.

“Our competitive advantages and flexibility allowed us to earn trust of clients, - said Justas Babarskas, Head of Commerce Unit of Ukio bankas. – Another big advantage of Ukio bankas is one of the lowest consumer loan interest in the Lithuanian market. Clients may receive consumer loans at Ukio bankas with interest from 6 percent in euros and 7 percent in litas”.

According to J. Babarskas, total consumer loan portfolio amounted to almost 30 million litas. Loans granted last year ranged from 600 to 40 thousand litas.

As stated by Head of Commerce Unit of Ukio bankas, last year the clients were encouraged to choose consumer loans more actively not only because of attractive interest but also because of additional insurance against job loss offered by the bank and a possibility to chose a loan with life insurance.

“There is a big demand for consumer loans however the residents of Lithuania today are more responsible in assessment of there own financial possibilities and perspectives. Last year’s economy warming provided better terms to the residents to borrow more actively and a possibility to get insurance against job loss eliminated the reasons that used to arise doubt for a person if he will really be able to repay the loan. Now the clients are sure that because of insurance they will not face problems repaying the money to the bank in crucial case if they lost a job”, - said J. Babarskas.

Ukio bankas in respect of the situation faced by some of the residents, simplified terms of the consumer loan granting in November last year. Minimum amount of consumer loan was reduced to 500 litas (it was LTL 1000 before). Additionally, commission fee minimum applied for these loans was eliminated and now only 1 per cent commission fee is applied i.e. from 1 to 10 litas for loans amounting from 500 to 999 litas. New and present Ukio bankas clients may take advantage of small consumer loans. Consumer loan granted by Ukio bankas range from LTL 500 to LTL 10 000, repayment term – up to 5 years. 

Ukio bankas is the first commercial bank in Lithuania providing reliable service for the third decade in 60 client service units in all the country.