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ATB’s new GIC now available to investors
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edmontonjournal.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.5 L/ i s6 ^/ v; [! ?( u
5 t5 B8 U9 V/ z) q7 ^$ XThe 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.1 z! S6 L+ _7 R4 z3 F. B1 e
. }# f0 L' i1 ^# H! h2 JThe 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 $7 billion, ATB said at the time.2 i1 x2 P& A- R, ~8 _
! q# g1 F) u K& M: wFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.; }" @4 Q7 L0 S3 \+ p! O {$ ^
- N1 O3 f; F% x2 o“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.3 @# A. H' }* ^1 B9 h, u" a: }( S
- P: b" Y. _$ s- d“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
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The GICs will be available for a limited time only. |
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