OTP Bank approved new credit limits for farmers for UAH 1.06 bln totally in 2021
OTP Bank has approved new credit limits totaling UAH 1.06 bln with 85 new clients in the agricultural sector since the beginning of 2021. As of September 15, this year owerall financing within the Agro Factory project set a new record and reached UAH 2 bln.
According to Ivan Yerko, Head of OTP Agro Factory, the Agro Factory scoring project was launched in March 2017, since that time 345 agricultural clients were involved. "This indicates that the project is popular and in demand in the market. To broaden the range of clients who can access our services, OTP Bank increased the amount of financing secured by agricultural receipts within the Agro Factory project by 30% - from UAH 15 mio to UAH 20 mio. We provide financial support to Ukrainian agricultural producers so that they can maximally improve their production and increase their business efficiency," – I.Yerko said.
To recap, Agro Factory is a scoring credit product for the farmers with a plots of land more than 400 hectares. Under the Agro Factory project, customers receive a preliminary decision about financing within a working day, while credit funds are delivered 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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