OTP Bank opened a financing limit of UAH 700 million to the VIOIL industrial group
JSC OTP BANK and VIOIL have reached an agreement to provide the industrial group with a credit line in the amount of UAH 700 million. The loan agreement provides for the use of a limit to replenish the working capital of the group companies.
"Due to the conditions provided by JSC OTP Bank within the loan agreement, VIOIL will significantly reduce costs within the existing loan portfolio in other banks and direct the saved funds to the development and annual increase in production," said Alla Vlasyuk, CFO of VIOIL.
“In the past, we cooperated with VIOIL, so involvement this group in the service of our bank was one of the priorities of our team. Thorough knowledge of the domestic processing market, the ability to structure complex transactions in a relatively short time and the competitive value of foreign currency - these are the main components that made it possible to implement this project," said Alla Biniashvili, member of the Board of OTP Bank.
VIOIL Group of Companies is one of the most powerful producers of vegetable oils in Ukraine, which exports products to more than 60 countries. The group's assets include eight elevators and three monocultural oil extraction plants with a total processing capacity of 1.1 million tons per year. The company's plant products meet all quality standards of the European Union and the CIS, Chinese CIQ, as well as other world food quality standards. The VIOIL Group has received a certificate of environmental sustainability and greenhouse gas emissions (ISCC), which allows the use of its rapeseed oil for biofuel production.
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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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