Access to credit resources for businesses has increased ten times due to co-financing programs, - V. Mudryi
Joint financing programs with international partners allow to increase in ten times amount of money, to which business receive access and due to which business has possibility to develop. This told Chairman of the Board of OTP BANK JSC Volodymyr Mudryi at the Business Summit organized by USAID Investment for Business Resilience Activity.
“For each hryvnia provided under joint program with USAID Project, we give clients access to ten hryvnias in credit funds. Through the first phase of the program, we financed Ukrainian enterprises with nearly 550 million UAH at a subsidized interest rate. OTP BANK successfully completed this phase and received the second tranche from USAID Investment for Business Resilience Activity. We are now accepting applications, processing new business requests daily,” - said Mudryi.
He reminded that OTP BANK was the first bank in Ukraine with which USAID Project started the cooperation. With both tranches, the amount provided to the Bank for preferential lending to SMEs totals $4 million.
“OTP BANK embraces a philosophy of partnership, and we always seek to combine the best the market has to offer. For instance, our agricultural team consists of high-level specialists who not only explain credit products but also recommend partners for purchasing fertilizers or seeds at the best price. OTP BANK also has a developing OTP Energy division, whose specialists advise on alternative energy sources: what to buy, how to install and use them, and so on,” – emphasized Chairman.
Businesses can receive up to 15% cashback on purchased equipment. “Our goal is not just to provide credit but to support sustainable business development, offering the best customer experience by also helping entrepreneurs with professional advice,” – emphasized Mudryi.
He also shared insights into successful cooperation of OTP BANK and USAID Project. “To become a partner with such an international organization, one must meet three criteria. The first is the desire to do business, invest, create, and develop. The second is a professional team, as business is made by people. The third is reputation, shared principles, and ethical standards. We are drawn to the cooperation with the USAID Project because of its clear KPI for job creation within the companies that the Bank lends to. This is a significant social mission, important for both us and the country,” – summarized Mudryi.
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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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