OTP Bank offers special financing conditions for gas traders
Due to the high rates of the energy industry growth in Ukraine and the emergence of many private companies on the wholesale gas and electricity market, OTP Bank believes this sector to be promising for cooperation and plans to increase lending to it.
Tellingly, now there is a lack of banks' interest in this industry, and gas traders experience quite challenges in affordable leverage search.
We have analyzed the main issues that gas traders face during obtaining bank financing. It is the decision-making speed and collateral adequacy.
And, as a step towards companies, OTP Bank has developed a simplified process for reviewing requests with attractive conditions, which will significantly expand the customer base and increase the volume of loan and documentary portfolio in this area.
OTP Bank offers gas traders cooperation within the following services:
- guarantees of the fulfilment of contractual obligations (covering the commitments of gas traders on balancing gas in the GTS of Ukraine and on gas supply);
- tender guarantees (for the gas traders' participation in tenders for gas supply);
- overdraft and credit lines to replenish the gas traders' working capital.
In addition to the simplified application process, the program for gas traders at OTP Bank has several other benefits:
- the cash coverage amount under guarantees starts from 10% of the guarantee amount depending on the borrower's rating;
- the amount of hard coverage on credit limits - from 40% of the loan amount depending on the borrower's rating;
- overdrafts and short-term tender guarantees sum may reach UAH 15,000,000 on a blank basis.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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