"Lietuvos Paštas has borrowed money from Ūkio Bankas. Following the suspension of Ūkio Bankas operations by the Bank of Lithuania, Lietuvos Paštas is borrowing from other banks. The loan is for working capital needs. We cannot disclose the amount," the company's spokeswoman, Aurelija Jonušaitė, told BNS.
She said that the postal company would not incur any losses due to the suspension of the troubled bank's operations.
According to information on the central public procurement portal, Lietuvos Paštas signed an overdraft agreement worth 7.74 million litas (EUR 2.24m) with Ūkio Bankas in August 2011. The cost-efficiency of the bank's proposal was rated at 100 points.
The now-bankrupt Snoras was the runner up in the tender process with 63.68 points.
Lietuvos Paštas does not issue public tenders for other loans.
