AgriBank celebrates its launch in the UK
More than 120 guests from the UK’s farming and banking sectors celebrated the launch of AgriBank (www.agribankplc) on March 6th 2013 with a lunch reception at the Duck and Waffle, high above the City of London with breathtaking views of the Thames, the Square Mile, the Tower of London and the Docklands beyond.
Guests were offered British fare sourced from some of the British farms that AgriBank aims to support while founder Frank Sekula presented information about the bank’s aims which are to:
- Be the best at financing agricultural machinery and equipment in the UK
- Offer hard UK pressed savers better rates by investing in UK agriculture
- Build a traditional bank that raises funding from UK savers and lends to UK farmers
“We tightly control risk by making well-informed lending decisions and matching the currency and term of our lending book with our liabilities” explained Frank Sekula.
AgriBank’s founders both come from UK farming and financial services backgrounds. They have invested their own savings along with the bank’s savings customers to create AgriBank.
Notes to editors:
- AgriBank has been approved as a credit institution and is regulated by the Malta Financial Services Authority (www.mfsa.com.mt).
- AgriBank is able to provide banking services also in the UK pursuant to its EU passporting rights after notifying the PRA (http://www.bankofengland.co.uk/pra).
- AgriBank lends exclusively to UK farmers seeking finance for machinery and equipment. This sector has always been low-risk relative to other sectors in the UK economy.
- Loan products take the form of financial leases, hire purchase agreements and secured loans for terms of up to five years.
- AgriBank’s Fixed Rate Savings Accounts are protected by the Malta Depositor Compensation Scheme.
For further information please contact:
0845 521 2700
07771 713 608