JSC “West Kredit” Opens Its First Foreign Branch

JSC “West Kredit” Opens Its First Foreign Branch

JSC „West Kredit”, the largest non-banking mortgage lending company in Latvia, develops its business also outside Latvia, opening a new representative office in Lithuania. The company plans to expand its business in specific areas – competing with other lenders, granting competitive and beneficial loans to private persons and legal entities. The company has invested about 100 000 EUR into the creation of the Lithuanian branch.

According to Arturs Silantjevs, Member of the Board of Directors of JSC “West Kredit”, it is logical that the company’s business is expanding to foreign markets: “We have been working in the non-banking mortgage lending sector in Latvia for over twenty years, maintaining stable leadership positions. But we are interested in our further growth, believing that the next logical step would be to strengthen the presence and positions of West Kredit also outside Latvia, entering the new Baltic markets, which we expect to appreciate our services.”

Opening its new branch in Vilnius, JSC “West Kredit” will offer to Lithuanian customers the same range of services as in Latvia – a full package of lending products to private and business customers, e.g. medium and small businessmen, often experiencing difficulties in obtaining a financial support in the banking sector.

“We are sure that the Lithuanian market is beneficial for the company for a number of reasons – its national economy develops, construction is carried out in the private and business sector, the real estate market situation is better than in Latvia. Lithuanians are open to new financial services, and situation in their country is favorable for the development of our business. We are sure that we will gain the loyalty of citizens in our neighboring country – like in Latvia,” Arturs Silantjevs emphasized.

Last year JSC “West Kredit” granted loans in the amount of over 10 million EUR. To expand its business, JSC “West Kredit” attracted additionally 24 million EUR.

About JSC “West Kredit”

JSC “West Kredit” is a leader of the non-banking mortgage lending sector in Latvia since 1994. The company is one of the founders of the Non-banking Mortgage Lending Association in Latvia, regularly cooperating with various structures of the national level and caring for the regulation and supervision of the sector.