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

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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.

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