Registration of subordinated loan in amount of USD 50 mln from the parent company of Ukrainian OTP Bank is completed

 

OTP Bank received the permission from the National Bank of Ukraine to include the subordinated loan in amount of USD 50 mln to Tier II capital. Thus, the Bank is among the first ones that completed the plan of capitalization, approved by the National Bank of Ukraine and International Monetary Fund. Its regulatory capital currently comprises UAH 4,5 bln.

For reminding, this loan was provided by parental company of the Bank - Hungarian OTP Bank Nyrt. – for 7 years. Besides, at the beginning of April this year the shareholders of CJSC OTP Bank took decision about the additional increase of the Bank’s charter capital by UAH 800 mln - to UAH 2,8 bln.
 
According to the Chairman of the Board Mr. Zinkov, high indicators of OTP Bank’s capitalization allow us to affirm with confidence, that today our financial institute is able to resist effectivly any cataclysm on European and domestic markets. «The Bank formed essential “liquidity buffer” both in UAH and also in foreign currencies: it comprises at least UAH 1 bln and USD 100 mln.  These funds are always at the Bank’s disposal. The fact, that shareholders of the Bank continue to invest funds in its capital, certificates about the stability and reliability of paternal company, its subsidiary and of the Group in general», underlines Mr. Zinkov

OTP Bank  – the universal bank, acknowledged leader of the Ukrainian financials sector, providing full range of financial services to corporate, retail and SME clients. On the Ukrainian market it has the solid reputation of reliable and stable institution, rendering highest quality products. 

According to the Association of Ukrainian Banks as on 1st of March 2009 OTP Bank is the 7th largest bank in terms of assets. Currently, the bank services about 300 thousand customers. Its branch network consists of 207 sales points and 21 representative offices all over Ukraine.

Published: 21.04.2009