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2008-04-28
Bankas SNORAS will provide savings services for Estonian residents
From April 29 this year Bankas SNORAS Estonian branch will launch time deposit services for the Estonian residents. It will offer some of the highest interest rates reaching 7 percent. Bankas SNORAS - with 16 years of retail banking experience in the market - takes the third position of importance in Lithuania's deposit portfolios.
"Time deposits services are among the top-priority ones in Bankas SNORAS. The bank has always devoted an exclusive attention to increasing their attractiveness for the clients and strengthening their competitive performance in the market. High interest rates for deposits and privileges for loyal clients have been the key of Bankas SNORAS to holding the third position of the size of deposit portfolio in the Lithuanian market for a number of years. We trust that we can use the experience of providing time deposits in Lithuania for the residents of Estonia" - Bankas SNORAS deputy chairman of the Board, director of the Business Development Division, Žoržas Šarafanovičius, states.
The clients of Bankas SNORAS in Estonia will be able to use one of the four currencies for time deposits: Estonian kroons, Euros, US dollars and pounds sterling.
In Bankas SNORAS Estonian branch, the clients desiring to use the time deposits service will be offered one of the highest interest rates in Estonia - even up to 7 percent. Their amount will depend on the term and currency of the desired deposit.
Bankas SNORAS Estonian branch is the first foreign bank branch which started functioning on March 14 this year succeeding the bank representative office that was operating for three years.
On April 1 this year the general deposit portfolio of Bankas SNORAS went up to LTL 4.28 billion exceeding the ratio of the same period last year by 26.6 per cent. Over the last 12 months the portfolio of residential deposits kept in Bankas SNORAS has grown by one-third (33.3 per cent) skyrocketing to LTL 2.63 billion at the end of the first quarter this year.
Tallin 
From April 29 this year Bankas SNORAS Estonian branch will launch time
deposit services for the Estonian residents

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AB Bank SNORAS
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Phone: + 370 5  239 2239
Fax: + 370 5  232 7300
E-mail: info@snoras.com
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