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.
- 16:5807.12281907.12.2018 | Investments28190Investors' coming to coal industry seems impossibleAfter the conflict in Donbass (Donetsk coal basin) has began in 2014, the situation in the state-owned coal mines looks like one long ordeal
- 15:1003.12271003.12.2018 | Investments27100EBRD, EIB and WBG launch enterprise surveyEBRD, EIB and WBG launch enterprise survey in Ukraine
- 12:5722.1052422.10.2018 | Investments5240Horizon Capital plans to invest up to USD 200 million into UkraineHorizon Capital will invest up to USD 200 million into Ukraine over 3-5 years
- 10:2022.1042922.10.2018 | Investments4290Ukraine and IMF agreed on new programUkraine and IMF agreed on new Stand-by arrangement
- 16:1517.1042017.10.2018 | Investments4200Ukraine was downgraded 2 positions in competitiveness ratingUkraine was downgraded 2 positions and placed the 83rd in WEF competitiveness rating
- 10:0316.1050616.10.2018 | Investments5060AMCU permitted Horizon Capital to buy share in confectionaryAMCU permitted Horizon Capital to buy share in Yarych confectionary
- 10:4509.10101409.10.2018 | Investments10140EBRD approved new strategy for UkraineThe EBRD approved new strategy for Ukraine which focuses on privatization, energy security, banks and capital markets
- 10:5628.0944928.09.2018 | Investments4490EIB invested in Ukrzaliznytsia and UkravtodorEIB decided to allocate EUR 50 million to infrasructure of Ukrzaliznytsia and Ukravtodor
16:5807.122819Investors' coming to coal industry seems impossible 14:3707.122540Kyivstar got new CEO 16:1206.122560FUIB afforced Supervisory Board 13:5406.122373Chinese allowed to enter PFTS's capital 15:3305.122749New Memorandum on cooperation with IMF is approved 11:1705.122754Ukrainian Exchange admitted bonds of Alfa Bank and OTP Bank to trading 16:0704.122391Ihor Mitiukov was reselected as NDU's Supervisory Board Chairman 12:5504.122192VAT refund has increased by 12% since January 2018 15:1003.122710EBRD, EIB and WBG launch enterprise survey 12:0703.122399Ukraine is in top three countries by frequency of systemic banking crises