Signet Bank allocates EUR 980,000 to a truck spare parts dealer OLDI & Co

Signet Bank has provided financing in the amount of EUR 980,000 for the development of OLDI & Co.

OLDI & Co is a family business founded in 1996. For more than 25 years, OLDI & Co has been selling spare parts for commercial vehicles (trucks, trailers and buses) and engaged in servicing vehicles. Currently, the company has seven retail branches throughout Latvia, as well as a truck and bus service centre in Riga.

The dealer of truck spare parts OLDI & Co has grown significantly since the beginning of its activity. High-quality operation and a long-term strategy have enabled the company to achieve excellent financial results. We are happy to support OLDI & Co with financing, as they have established themselves as a company with excellent growth, and we are confident that the Bank’s support will allow the company to achieve new business goals.

Ineta Done, Senior Vice President of Signet Bank

We are very pleased to receive Signet Bank’s support for our plans and goals by offering good financing conditions, as well as providing professional assistance from experienced and highly qualified bank employees. Thanks to mutually beneficial financing terms, we have the opportunity to continue the development of our business, despite the difficult market situation. We believe that through cooperation with Signet Bank, we will be able to confidently overcome the challenges of the modern world, providing our customers with the best service. With extensive and long-term experience in the sales and maintenance of commercial vehicles, OLDI & Co can promptly and efficiently respond to changing market conditions, using the latest industry technologies in our work. Being aware that our customers especially appreciate professionalism and fast delivery, we have decided to pay special attention to the development of our service centre in order to provide our customers with top-quality comprehensive services.

Oleg Kushinichev, Chairman of the Board of OLDI & Co

Signet Bank was founded in 1991 and is one of the first banks of independent Latvia. The Bank’s strategy focuses on financing local entrepreneurs and their businesses, as well as on capital management. Since the beginning of 2021, Signet Bank has provided clients with financing in the form of loans and bonds in the amount of almost 400 million euros. Signet Bank’s shareholders are nine Latvian and international private investors, the largest of which are Signet Acquisition III (25%), where the sole shareholder is the US investor Alexander Solovey; AS RIT Group (19.50%) – a Latvian company owned by the Rapoport family; and SIA Reglink (15.93% ), whose founder Irīna Pīgozne is a banking professional.