Relaunch of Preferential Mortgage Lending is a Proper and Necessary Initiative, - CEO of OTP Bank
In general, relaunch of preferential mortgage lending is a proper and necessary initiative, believes Volodymyr Mudryi, chairman of the board of OTP Bank.
According to him, on the one hand, it is assistance to those categories of population that participate in the protection of the country from the aggressor, and most importantly, it is the creation of internal demand for the renewal of the economy.
"Mortgage lending has always been and is one of the effective mechanisms of a comprehensive approach to stimulating the economy: as you know, one hryvnia invested in construction affects the economy as a whole with an almost fivefold multiplier," the banker noted.
At the same time, Volodymyr Mudryi assumes that the key factor in the success of the program will be the demand from the population itself and the willingness of Ukrainians to take on obligations for a loan for 10 years or more in the current conditions of uncertainty.
Nevertheless, in the opinion of OTP Bank’s CEO, at this stage this program is more acceptable for state banks especially taking into account the military situation and the risks that currently exist, including those connected with a number of legal restrictions on the activity of the creditor. In the future, commercial banks will join the program.
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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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