OTP Bank Romania gets EUR 25 M from EIB to support SMEs


Get real time updates directly on you device, subscribe now.

The European Investment Bank (EIB) is providing OTP Bank Romania a EUR 25 million financing line designed to support small and medium-sized companies and public entities and to facilitate youth employment in all sectors, a press release informs.

The loans to final beneficiaries will be used to finance investments and working capital in line with EU priorities and can be granted for a period of up to 10 years.

“EIB funds, intermediated through OTP Bank, a well-established EIB partner financing institution, will help to increase Romania’s competiveness. The loan is designed to support mainly SMEs, which form the backbone of the Romanian economy in terms of both employment and economic growth,” the signatories of this partnership stated.

Local subsidiary of Hungary’s OTP Bank recorded an adjusted profit of RON 21.9 million, up by 97 percent year-on-year, taking into account Millennium Bank results. Operational profit decreased by 37 percent compared to the previous year.

The total gross credit portfolio, adjusted for the effect of currency exchange rates, was extended by 25 percent compared to 2014. The loan portfolio for corporations, adjusted for the effect of currency exchange rates, increased by 32 percent compared to 2014.

DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.
So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRL
UniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002

Leave A Reply

Your email address will not be published.