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ATB’s new GIC now available to investors
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1 U; H( u, |( x, s. bedmontonjournal.comSeptember 1, 2009Comments (1)
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9 Q: H/ W) u$ s+ o/ i+ XEDMONTON — 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.
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. ~- H1 j- H8 X& L0 {' LThe 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.
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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 $7 billion, ATB said at the time.4 r9 h1 N# P. P5 r6 f
6 @0 o* m; z; j3 D7 gFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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$ k, y5 \% T- N“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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“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”; \4 ~( C3 _( k1 m" j: e! M: K, L- C
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The GICs will be available for a limited time only. |
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