In order to ensure the financing of working capital and the development of the parcel network, VAS “Latvijas pasts” (LP) has attracted an overdraft in the amount of 4.3 million euros, “Delfi” AS “SEB banka” learned.
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In order to accelerate the company’s transformation and development, LP has initiated the development of a new corporate strategy, including a modern parcel service network development plan, which provides for a significant expansion of parcel service coverage.
The total LP network currently consists of 146 outdoor and indoor parcel lockers, while in the second quarter of 2023 another 25 outdoor parcel lockers are scheduled to be deployed, continuing the expansion of the network throughout 2023.
By developing and diversifying the options for receiving and sending parcels, LP actively continues the expansion of the parcel post network, placing the new generation of outdoor parcel post offices in strategically advantageous locations throughout the country.
By developing various parcel delivery solutions according to customers’ modern consumption habits, in August 2022 LP started the implementation of an ambitious plan for the deployment of outdoor parcel lockers, envisaging the expansion of the parcel locker network with at least 120 new parcel lockers.
Ints Krasts, a member of the board of “SEB banka”, states that “at a time when the economic situation is so changing, it is important for us to support a strategically important state-owned company so that it can ensure safe and continuous daily operations, as well as maintain ambitions to implement new long-term investment projects. “
LP board member Andris Puriņš emphasizes that the post office “continues to develop, so we have and will need both working capital financing and longer-term financing for the implementation of our largest investment projects. Therefore, we are happy to expand cooperation with SEB banka, which in this case offered the most favorable financing conditions .”
LP ensures the widest availability of postal services in the entire territory of Latvia, maintaining more than 600 locations of postal services and an extensive network of outdoor and indoor parcels. The main function of the company is the provision of universal postal service, in addition to providing commercial transport, express mail, parcel, payment, press, retail and philatelic services. LP is a state-owned company with around 2,700 employees.
SEB Group is the leading provider of financial services in Northern Europe. As a bank for close and long-term relationships, SEB offers financial consulting and a wide range of financial services in Sweden and the Baltics. In Denmark, Finland, Norway and Germany, SEB’s main priority is the provision of corporate and investment banking services to companies and institutional clients.
2023-04-24 05:24:01
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