OTP Bank increased the amount of financing secured by the agricultural receipts for a borrower up to 30%
On the eve of the autumn sowing season, OTP Bank increased the amount of financing secured by the agricultural receipts up to 30% – from UAH 15 mio to UAH 20 mio.
"The agricultural industry is among the fastest growing in Ukraine, and Agro Factory is growing along with its customers. Therefore, the decision to increase the maximum amount of funding was a response to market demand and those farmers who need financial support to increase competitiveness and optimize their production", the head of "OTP Agro Factory" Ivan Yerko said.
OTP Bank started financing secured by the agricultural receipts in March 2017, then the maximum amount of financing was UAH 8 mio. In 2018, the maximum limit was raised up to UAH 15 mio. During 5 years of financing secured by the agricultural receipts, OTP Bank has become a leading bank both in the terms of issued receipts volume totaling UAH 5.5 bln and in their number – nearly 1000.
Agro Factory is a scoring credit product for agricultural producers with a plots of land more than 400 hectares. Under the Agro Factory project, clients receive a preliminary decision over lending within a working day, and loans within nine working days.
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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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