The Baltic Investment Group (BIG) has initiated the process of obtaining a credit institution activity licence.

Today, functioning as a financial institution, the enterprise's money-involvement options are substantially more limited than those available to credit institutions. On the Estonian financial market, BIG is the largest specialised lender of property-based small loans after banks and leasing companies. As the enterprise grows, it becomes necessary to involve money from the public.

The enterprise considers it strategically important to begin organising in the future public debt instrument issues and involve time deposits.

"The Baltic Investment Group is planning long-term operations in the consumer financing sector and that is why we deem it essential to ensure that the enterprise enjoys a stable financial base even when it expands," commented Targo Raus, Chairman of the Board of BIG, on the application for the credit institution activity licence, adding that the process has only just begun.

The enterprise intends to submit to the Financial Supervision Authority all the documents required to apply for the activity licence before the end of this year.

AS Balti Investeeringute Grupp is the largest specialised lender of money to private persons in the Baltic States after banks and leasing companies. The goal of the enterprise is to provide both private and business customers with fast, attentive and flexible financial services. As of September 30th of this year, the enterprise's balance sheet total constituted 240 million kroons while the net loan portfolio reached 196.1 million kroons.

Additional information:
Targo Raus, Chairman of the Board
targo.raus@big.ee