Hryvnia portfolio of OTP BANK grew by 40% in 2024
In 2024, the hryvnia portfolio of OTP BANK JSC increased by 40%, while systemic corporate loans grew by 23%, reflecting the development of business in Ukraine. This was stated by CEO of the OTP BANK Volodymyr Mudryi during the event “Ukraine Tomorrow: Lessons of 2024 and a Look into the Future,” organized by the European Business Association and the Kyiv School of Economics with the support of OTP BANK.
According to him, to support entrepreneurs, the Bank is fostering long-term cooperation with international organizations, enabling businesses to benefit from interest rate compensation on loans, risk-sharing mechanisms, and cashback programs from global partners.
“Our goal is to be a reliable partner in Ukraine for international organizations, with an impeccable reputation, expertise, and experience. Our mission is to enhance the country’s economic potential through such partnerships: to attract as much foreign funding to Ukraine as possible and thus strengthen the credit leverage for entrepreneurs,” - emphasized Mudryi.
He noted that despite the critical role banks play today, they face numerous challenges: the increasing number of additional functions required by the state, significant IT costs to meet EU standards, preparation for future stress testing of all banking institutions by the regulator, and the absence of legislation on war risk insurance, which remains a significant limiting factor for credit development in Ukraine.
“Currently, discussions are ongoing regarding trends and modern challenges. For instance, we are working with international partners to develop an optimal mechanism for implementing ESG standards for small and medium-sized businesses, which are already struggling under today’s conditions. Additionally, financing tools for large infrastructure projects are being developed, such as consortium lending for reconstruction efforts. In other words, banks are striving to stay proactive and provide maximum support to the country and entrepreneurs,” - Mudryi said.
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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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