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ATB’s new GIC now available to investors
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( Q& V, M- n$ wedmontonjournal.comSeptember 1, 2009Comments (1)
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EDMONTON — Tuesday marked the first day investors could purchase a new GIC that ATB Financial says will help fellow Albertans and businesses hurting due to tight credit markets.4 J2 \: h% J' q) ^# b% g, ?: v
+ X; Q* @$ |: Y; W/ D7 jThe ATB Growth Note will be a five-year guaranteed investment certificate with a 4.25-per-cent interest rate, announced the provincial Crown corporation and Edmonton-based financial institution on Tuesday.3 l6 y# G( l H6 U, u7 y
/ b' W2 B2 t0 a0 f% YThe initiative was first revealed in July as part of a commitment by ATB to increase its lending capacity to small business to offset the effects of tight credit markets by as much as $15 billion. Changes to ATB’s notional capital requirements will increase its lending capacity by about $8 billion and the investment deposit product would raise another $7 billion, ATB said at the time.* r- r5 Z! I7 I0 d1 Y; I
4 W; V; ` G7 i9 pFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.3 @# e% P/ Z0 O; \7 w1 J. D
- Y' Y1 I/ u( K+ }“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
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1 D5 Z1 V$ K/ u5 v8 d“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
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The GICs will be available for a limited time only. |
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