Luminor grants €13.5 million in funding to DEPO store owner in Kaunas

Luminor Bank has granted financing in the amount of EUR 13.5 million to UAB "Taikos centras" to finance the investments made in the construction of the DEPO store in Kaunas, Taikos pr. 141A. The 21 800 m2 shop has already been open to visitors since June 2024.

The DEPO store in Kaunas is an important step in the company's development in Lithuania, continuing its purposeful expansion in the Baltic market.

"DEPO is a good example of a company that invests in development and acts strategically. This 100% Latvian capital company has conquered a stable place in the DIY market segment and continues to grow in the Baltic States. We appreciate the opportunity to be alongside entrepreneurs with smart investments that promote economic activity," says Ilze Zoltnere, Head of the Corporate Department of Luminor Bank in Latvia.

"We continue to invest in the Lithuanian market by actively expanding. Our previous cooperation with Luminor is successful and provides a solid basis for the development of real estate projects of our Group of companies in the Baltic market. This contributes to the availability of DEPO stores for our customers. DEPO continues to develop a comfortable shopping experience in modern, spacious stores, offering a wide assortment and solutions for home, garden, repair and construction at low prices every day," says Viktor Baltrukovich, Chief Financial Officer of DEPO.

DEPO started operating in the Lithuanian market at the end of 2016, introducing a new and positive dynamic in the do-it-yourself (DIY) market segment. 

By SIA Depo DIY

SIA Depo DIY is a 100% Latvian capital company registered in Latvia, founded in 2004. The company manages a network of DEPO stores for house, garden and repair in the Baltic States. Currently, there are 9 DEPO stores in Latvia, 7 in Lithuania, and one store in Estonia. The sole owner of the company is DMT Plus Ltd.

By Luminor    
Luminor is the leading independent bank in the Baltic States and the third largest financial services provider in the region. We provide financial services to individuals, families and businesses. Like the Estonian, Latvian and Lithuanian markets, we are young, dynamic and focused on the future.