OREANDA-NEWS. April 03, 2012. In 2011, TKB launched a structured deposit for its clients with an opportunity to increase their income depending on results of Latvia’s economic growth. According to the released data on GDP in 2011, the depositors of “Solidary deposit” will receive the highest possible return on their deposits, reported the press-centre of TKB.

The „Solidary deposit” enabled TKB depositors to place funds in a safe deposit form. This deposit program offered a steady guaranteed income (3.1%) or a higher interest rate of 5% provided that Latvia’s GDP growth in 2011 increases by at least 3%.

The TKB offer was based on GDP forecasts, made by analysts of the bank (TKB forecast was 3.5%), as well as on estimates of many other economic experts of Latvia (3-5%). The "Solidary deposit" attracted enhanced interest of TKB clients, many of them decided to place their stake on the most optimistic country's GDP forecast, and they made the right choice. According to the Central Statistical Bureau data, released in March 2012, Latvia’s GDP growth in 2011 exceeded even the most daring forecasts reaching 5.5% per year.

ТКВ Vice Chairman of the Board Maris Fogelis noted, "The deposit offer became an alternative to structured deposits, whose return is usually calculated according to different parameters, which are often difficult for depositors to understand, e.g., different foreign stock market indices. The “Solidary Deposit” provides income depending on a specific economic indicator, which is important to people in Latvia. We all have our indirect impact on the country's GDP growth, and we can easily follow its dynamics in the media, by listening to economists' comments and reading information provided by the Central Statistical Bureau. The more positive the national economic growth dynamics is, the more possibilities are proposed for a better life to businessmen and residents of Latvia, and it becomes possible for a bank to pay higher interest to depositors. We are pleased having among TKB clients so many optimists about our economic growth. This spring they will receive their increased profits!”

In the near future you will have an opportunity to use a new, particularly attractive offer and get extra profits from a Solidary Deposit, which will be tied to the growth rate of Latvia’s GDP in 2012. We will announce separately the terms and conditions of the new deposit program.