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ATB’s new GIC now available to investors
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7 V/ g+ r0 c, x" s$ J/ H4 Q: Sedmontonjournal.comSeptember 1, 2009Comments (1)
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EDMONTON — 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.
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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./ y' @2 \$ a2 q$ w1 F# S
4 \. e# H* B% z1 } SThe 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.2 l2 ? T' Y3 _% U7 c) g! P
" Y C/ i1 b4 J% r* \! @Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.+ o% u2 T4 u' _# c" P
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“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.”0 S8 p& H9 Y* g+ U5 I
+ K4 \- c" O) X* e3 ?The GICs will be available for a limited time only. |
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