Norvik Banka to finance a transit company SUNGATE


Norvik Banka has started to finance a transit company SUNGATE, which has been working in the market of international transport services for over 20 years. Financing in the amount of 3.7M US Dollars granted by Norvik Banka will allow SUNGATE to develop transport services and build its business in the markets, which are important for the company, i.e. Kazakhstan, Uzbekistan, Tajikistan and Kyrgyzstan.

„SUNGATE has already had experience of cooperation with Norvik Banka. Having learned about positive changes at the bank, we decided to resume cooperation and maintain it, as employees of Norvik Banka have demonstrated competence and understanding of our business. At present SUNGATE is operating in a number of markets of Eastern countries, where we are recognizable and appreciated, therefore we are planning to enhance our business activity,” pointed out Chairman of the Board of SIA SUNGATE Jurijs Lihošerstovs.

„At present Norvik Banka is at the beginning of a new development stage. We are pleased that our customers have noticed and appreciated it. We have solid experience in the Latvian market and understand its needs, which allows Norvik Banka to offer special cooperation terms to the Latvian business men,” underlined Chairman of the Board of Norvik Banka Raivis Ruskulis.

Norvik Banka was established on April 29th 1992 and is one of the oldest commercial banks in Latvia. The bank has the widest branch and sales point network in Latvia with 80 client service offices in 17 cities and towns of Latvia. Norvik Banka is the 8th largest bank in Latvia by assets.
The majority shareholder of Norvik Banka is the owner and leading partner of London based investment fund G2 Capital Partners Grigory Guselnikov.

SIA SUNGATE was founded in Riga in 1992 and it has been successfully working in the market of international transport services for over 20 years, combining the opportunities of maritime, railway and road transport, stevedore services and transport document execution.
The essential fields of the company’s activities are international container transportations and transportations in train cars of various kinds through the ports of the Baltic Sea, and cargo transportation by railway and by sea between Russia and China.