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ATB’s new GIC now available to investors3 I+ d* ^7 b) }0 C
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edmontonjournal.comSeptember 1, 2009Comments (1)
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- g& ?+ L! t4 B' M$ {# l2 p) y3 WEDMONTON — 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.$ [7 R6 t0 G3 Y/ @8 l) L/ v
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The 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.4 t3 | \7 a2 ?) @2 V
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The 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 $7 billion, ATB said at the time.% n: x. i6 T/ d2 }
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.9 l: G3 j1 g5 w! K( n) ^4 c
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“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”) J0 {, H" n& W$ T; p. s M6 e5 P
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The GICs will be available for a limited time only. |
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发表于 2009-9-2 02:16
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