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ATB’s new GIC now available to investors6 [1 ~4 k, r4 w: C- w5 M
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edmontonjournal.comSeptember 1, 2009Comments (1)
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3 ^& q" t' M; A: B1 W4 EEDMONTON — 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 J; ~/ A8 }8 v, u
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The 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., @& Y9 d8 D" }2 x
" u5 ], N& n7 O7 Q4 E2 ]. mThe 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 $7 billion, ATB said at the time.' I3 P/ s! q' K- [$ [) i* r; w+ S
9 u' r4 f% Z" _4 E) j& _Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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5 F. c3 t6 b5 N% D0 a$ }4 R' C“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.”
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The GICs will be available for a limited time only. |
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