OREANDA-NEWS. December 04, 2007. DnB NORD, one of the largest banks in Lithuania, launched online express consumer credits, and with the festive season of Christmas and New Year fast approaching the bank’s customers will be offered consumer loans at better than standard rates. The bank will also offer a 25 percent discount on credit insurance rate, reported the press-centre of DnB NORD.

Until 10 January 2008, DnB NORD Bankas will offer a 5 percent Christmas discount on interest for express consumer credits taken at the bank’s outlets, while customers using the newly upgraded Internet banking system of DnB NORD will be offered a discount of up to 10 percent. The maximum sum of an online credit is LTL 20 thousand, the largest amount on the local market. If a consumer credit is taken at the bank the amount may be up to LTL 100 thousand depending on customer needs and his repayment potential.

"Traditionally the demand for consumer credits increases towards the end of the year when people are not only eager to please their family members and friends with Christmas gifts, travel or decorate their homes, but also try to rationally budget their household finances. Now our customers will not even have to leave their home or office and simply download the credit by Internet from DnB NORD Bankas the very same day," — says Raimondas Kutra, the Manager of Retail Banking Department of DnB NORD Bankas.

DnB NORD online express consumer credit can be distinguished by a fully automated customer solvency verification and credit disbursement process, starting from filling in a credit application to money transfer. The customer may receive further personal consulting with regard to an electronic offer for credit conditions at the preferred branch of DnB NORD. A modern Electronc Decision Support System installed provides that DnB NORD Bankas can grant a consumer credit in an hour at any of its banking outlets. That is the fastest credit extension time offered in the local market.

DnB NORD Bankas extends consumer credits in Litas, Euros and US dollars for a term from three months to five years. A credit may be repaid prior to the agreed maturity without any additional charges. Online express consumer credits are made available to those customers who have entered into electronic banking agreements with DnB NORD Bankas and whose earnings are officially received in Lithuania and reflected in Sodra database.

Around half of those taking a consumer credit at DnB NORD Bankas insure the loan providing that in case of an accident the burden of repayment would pass to the insurance company. By 10 January 2008 DnB NORD Bankas customers will be able to insure credits by paying a one-fourth lower premium.
 
About 23 thousand customers of DnB NORD Bankas have taken consumer credits. At the end of November the bank’s consumer credit portfolio amounted to LTL 915 million.
DnB NORD Bankas is a member of international DnB NORD banking group which was established by the Norway’s largest bank DnB NOR and North Germany’s largest bank NORD/LB. In Lithuania DnB NORD Bankas owns three subsidiaries: a leasing firm UAB DnB NORD Lizingas, asset management company UAB DnB NORD Investiciju Valdymas and real estate brokerage UAB DnB NORD Bustas.