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INDUSTRA is a bank which understands business people because it was established by business people, says Yuri Adamovich (Jurijs Adamovičs), Chairman of the Board of Directors the Industra Bank and a shareholder of the bank. In this interview he talks about Industra and how it differs from other banks in Latvia.
What is the main difference between INDUSTRA and other banks?
We will be a bank that supports businesses not just in words, but also in deeds. Lot of people talk about loans in the Latvia's financial market, but true partnerships and support are not all that common. This will be the main difference for INDUSTRA.
Ours is a compact organisation. We don't have any time or interest in dragging out or decisions so that clients have to wait. If we do not offer a loan client's expects to receive, we will say so, but if there is a genuine interest, then we will move forward in terms of practical co-operation or offer recommendations in terms of what should be improved in the project so that we can finance it. We will also be proactive in approaching businesses, that we see as having good growth prospects. We can and will work together as equal partners embracing win-win philosophy in everything that we do. Our bank is pragmatic, it was established by business people who are real self-made entrepreneurs. INDUSTRA is not an impersonal and large company with a complicated multi-layer management structure. The bank was established and is run by professionals who value their time and know that business people in Latvia are just as pragmatic and appreciate a partnership with a bank that does not have unnecessary bureaucratic obstacles or alienated attitude.
Who are the target clients for INDUSTRA ?
They are practical business people who need a bank that does everything in a simple, fast, modern and transparent way. These are companies from the real economy - manufacturers and service providers. These can be farmers, restaurants or an innovative new company that is establishing a prototype or entering a new market. It is important that all of these business people create true business value, and we try to support them. These are business people who are dynamic, ambitious and wish to earn profits.
The truth is that financing in the banking is not given to projects or abstract companies. It is given to specific individuals who are implementing their ideas. Those are ideas that we can believe in. These people convince us. Excel spreadsheets and financial models are just an illustration of their intentions, and this alone is not enough to succeed in the real business world.
What level of lending is INDUSTRA considering?
Currently we plan to offer business loans from EUR 500,000 to 2 million. The sums could be lower, depending on the type of loan and the specific company's plans and business model. The keyword for our lending operations will be speed. We will take decisions quickly and will be amongst market leaders when it comes to "time to "YES''".
What plans does INDUSTRA have in terms of the development of technologies?
INDUSTRA will offer modern and appropriate technological solutions. For instance, we will soon introduce mobile banking, which will, of course, have the main characteristic - convenience. We have no goal of being in first place when it comes to technologies, because clients usually do not look for the latest technological invention just because it is new. They are looking for comfortable usage, compatibility, simplicity and security. Industra's technological solutions will ensure that in the foreseeable future.
INDUSTRA is continuing the work of the Meridian Trade Bank. Will there be changes in terms of your relationship to the bank's previous clients?
The Meridian Trade Bank succeeded in attracting a large number of private clients, and we definitely want to preserve and develop that. INDUSTRA already ensures and will continue to offer banking services to private individuals, and we do not anticipate any major changes in this regard. People will certainly benefit from our new focus on business loans, because that means that we will also have more comfortable technological solutions that will be available to business people and other clients of our bank. We also welcome clients who only want to use the traditional services of the bank, because that is the foundation for banking business. Meanwhile, going forward Industra intends to grow mostly because of our corporate business.
Finally, why did you choose INDUSTRA as the new brand for the bank?
It is because our business model will be based on partnerships with small and medium enterprises. They are the nucleus of the economy, and we believe that the word INDUSTRA clearly communicates our emphasis on the industry, different sectors of manufacturing, new businesses, the spirit of business people and their purpose. That is also the direct message that relates to the translation of the word industria from the Latin language.