EBRD povided UAH 324 million loan to OTP Leasing
The EBRD is providing a 4-years local currency loan of up to UAH 324 million (EUR 10 million equivalent) to OTP Leasing in Ukraine for long-term leases to small and medium-sized enterprises (SMEs) across the country.
"The latest EBRD loan will allow OTPL to increase the terms of leases it offers and provide them in local currency. This will enable the leasing provider to diversify its customer base, especially by targeting smaller companies," the company's release reads.
According to the release, SMEs will also benefit from grant funding of up to EUR 1 million available under the European Union’s EU4Businessinitiative, which helps small firms to invest and benefit from theDeep and Comprehensive Free Trade Area (DCFTA) between Ukraine and the EU.
The grants will be provided as investment incentives to eligible SMEs to reduce the cost of their capital expenditure on upgrades of technology and production processes in line with EU standards and regulations, the EBRD specified.
OTP Leasing is owned by OTP Bank PLC, Hungarian bank, which has been working on Ukrainian market for 10 years. In 2017, the company increased revenues by 7.1% up to UAH 471.26 million, its net profit reduced by 16.3% up to UAH 584.59 million.
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