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DnB NORD Bankas, a member of dynamic DnB NORD financial family, set up a subsidiary company UAB DnB NORD Būstas thus becoming Lithuania’s first financial institution entering the country’s real estate brokerage market.
This will enable DnB NORD Bankas to take advantage of possibilities provided by the growing real estate market and offer simple, prompt and reliable solutions for those who construct and those who buy new dwelling.
“On the real estate market we are ready to offer a full cycle of services: the bank will finance the construction, DnB NORD Būstas will assist a customer to choose a dwelling apartment and the bank will be ready to finance its purchase”, said Sigitas Žutautas vice –president of DnB NORD Bankas in charge of retail banking.
DnB NORD Bankas will invest LTL 1 million into the authorized capital of the subsidiary.
Initially UAB DnB NORD Būstas will focus its market operations in Vilnius, Kaunas and Klaipėda, the Lithuanian cities where the real estate market is the most active.
According to the manager of UAB DnB NORD Būstas Gediminas Jankauskas, the company will aim to become reliable and the most convenient for customers real estate brokerage and aims to take at least five percent of the market by the end of the year.
“With DnB NORD Bankas financing the construction we will have full information about the project and will be well positioned to make sure that our customer is not buying “a cat in the bag.” I want to stress that in our company the apartment retail price will be the same compared to that charged by construction companies – we will not charge commission fees over that,” – Gediminas Jankauskas added.
According to the estimates of DnB NORD Bankas analysts, last year Lithuania’s inhabitants concluded deals worth about LTL 5 billion on dwelling house market alone. The total value of the real estate market deals last year topped LTL 13 billion. They expect that Lithuania’s real estate market will grow annually about 10 percent over the next few years
AB DnB NORD Būstas is the third subsidiary of DnB NORD Bankas. The Bank‘s group owns two other subsidiaries: AB DnB NORD Lizingas and DnB NORD Investicijų Valdymas.
This will enable DnB NORD Bankas to take advantage of possibilities provided by the growing real estate market and offer simple, prompt and reliable solutions for those who construct and those who buy new dwelling.
“On the real estate market we are ready to offer a full cycle of services: the bank will finance the construction, DnB NORD Būstas will assist a customer to choose a dwelling apartment and the bank will be ready to finance its purchase”, said Sigitas Žutautas vice –president of DnB NORD Bankas in charge of retail banking.
DnB NORD Bankas will invest LTL 1 million into the authorized capital of the subsidiary.
Initially UAB DnB NORD Būstas will focus its market operations in Vilnius, Kaunas and Klaipėda, the Lithuanian cities where the real estate market is the most active.
According to the manager of UAB DnB NORD Būstas Gediminas Jankauskas, the company will aim to become reliable and the most convenient for customers real estate brokerage and aims to take at least five percent of the market by the end of the year.
“With DnB NORD Bankas financing the construction we will have full information about the project and will be well positioned to make sure that our customer is not buying “a cat in the bag.” I want to stress that in our company the apartment retail price will be the same compared to that charged by construction companies – we will not charge commission fees over that,” – Gediminas Jankauskas added.
According to the estimates of DnB NORD Bankas analysts, last year Lithuania’s inhabitants concluded deals worth about LTL 5 billion on dwelling house market alone. The total value of the real estate market deals last year topped LTL 13 billion. They expect that Lithuania’s real estate market will grow annually about 10 percent over the next few years
AB DnB NORD Būstas is the third subsidiary of DnB NORD Bankas. The Bank‘s group owns two other subsidiaries: AB DnB NORD Lizingas and DnB NORD Investicijų Valdymas.