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ATB’s new GIC now available to investors& t3 e7 T9 V X& f, o. g$ d
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. W' W+ `4 u$ ^ {$ medmontonjournal.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.6 n' L; S- O" h- X2 [
; C# d2 R* F/ Y2 p" s; i0 vThe 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./ z! e$ H- K5 f0 n$ P& _, u
# i" d6 b# Y8 {5 D+ r3 h! h. pThe 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 $7 billion, ATB said at the time.
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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4 \& E, m9 w$ R. s% D" K% p“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.”; E% u8 Y3 i1 Q/ z* W
0 l6 r% Y( J% @) JThe GICs will be available for a limited time only. |
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