EBRD and OTP Bank concluded an agreement on risk sharing for the amount of EUR 30 million
The European Bank for Reconstruction and Development and OTP Bank concluded an agreement under the Risk Sharing Program.
According to the terms of the agreement, the collateral for loans that OTP Bank will provide to borrowers will be risks coverage from the EBRD in the amount of up to 50% of the new loan portfolio. The funding limit under the program is EUR 30 million.
The program is available for enterprises of critical sectors of the Ukrainian economy: agriculture and related services, food industry, transport and logistics, trade in essential goods, and others.
As OTP Bank’s CEO Volodymyr Mudryi said in an interview with Banki.ua: "In London EBRD approved the lending risk sharing program together with OTP in Ukraine. That is, they see OTP Bank as a reliable partner who correctly assesses risks. Such partner be relied on while doing business even in times of war. It's more about trust than about the amount of funding!".
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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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