„OP Corporate Bank“ provides 20 million EUR financing to „Gijos“ - a working capital solution to support effective risk management and ensure business continuity
„OP Corporate Bank“ Lithuanian branch, has provided 20 million EUR in financing to „AB Miesto gijos“ (formerly "Vilniaus šilumos tinklai"). This solution will help the company manage its working capital more efficiently, ensure financial flexibility, and strengthen its resilience to energy market fluctuations.
By maintaining financial stability, „Miesto gijos“ not only reinforces its operations but also contributes to the sustainable and responsible growth of the City of Vilnius. The financing, provided in the form of an overdraft facility, is intended to meet the company’s working capital needs - particularly during periods when customer payments for heating services are deferred, while service-related costs increase as the heating season begins. This allows the company to maintain stable cash flows and avoid additional financial pressure.
Mindaugas Bručkus, Head of the Finance Team at „Miesto gijos“, emphasized that such solutions are key to ensuring business continuity and sustainable growth:
"Efficient working capital management is essential for reliable heat supply. This financing helps us manage seasonality and energy market risks, enabling continued investment in operational efficiency and growth. We are pleased that „OP Corporate Bank“ has remained our long-term financial partner for the third consecutive year, supporting our efforts to manage financial risks and strengthen stability."
According to Giedrius Dzenkauskas, Head of Corporate customers at „OP Corporate Bank“ Lithuania, this financing decision reflects the bank’s Sustainability Strategy and its commitment to supporting the development of greener energy.
"Financial stability and sustainability go hand in hand today - efficient working capital management enables companies not only to maintain stable operations but also to plan investments in cleaner and more efficient energy solutions. We are pleased to support such a meaningful mission," said Dzenkauskas.
Sustainable financial management is vital both for the company and the city - stable cash flows and resilience to market fluctuations provide a solid foundation for the sustainable growth of Vilnius’s energy infrastructure.