Bucharest, September 1, 2011 – OTP Bank Romania has signed the cooperation agreement with AIPPIMM (The Agency for Implementation of Projects and Programmes for SMEs), in order to grant credit facilities as part of the “Mihail Kogălniceanu” programme, thus taking a step forward in proactively supporting the development of this segment of clients.

The purpose of the governmental programme is to facilitate the access to financing for small and medium-sized economic operators, as well as to help them maintain their business and jobs. Having a total budget for subsidies of RON 165 mil., the programme focuses on two major components:

• Subsidizing maximum 70% of the interest rate of the loan taken by an SME, but not more than 6.5% per year;
• Guarantees from the National Guarantee Fund, on the State’s behalf and account, for maximum 80% of the loan taken by a company, but without exceeding 100,000 RON.

Eligible companies – according to the criteria set out by Government Emergency Ordinance no. 60/2011 – will receive loans up to RON 125,000.

„Mihail Kogălniceanu” Programme will be implemented in the period 2011 – 2013, and the SMEs that want to apply for interest rate subsidies can register, starting the 9th of September, on AIPPIMM’s website. After AIPPIMM issues a favourable decision, the SMEs must submit their loan application to the bank, which will analyze it based on the eligibility criteria and the bank’s own lending rules.

OTP Bank Romania offers several advantages to eligible companies, such as:

• Advantageous price conditions for the granted loan facilities. Correlated with the interest rate subsidies granted by AIPPIMM, this will ensure a balanced cash flow;
• Counselling for registering in the Mihail Kogălniceanu programme;
• Counselling for the best use of the loans;
• Quick analysis of loan applications;
• Product and service packages dedicated to SMEs.

„The participation of OTP Bank to the <<Mihail Kogălniceanu>> programme confirms our role on the Romanian market, that of a loyal and trustworthy partner for our clients, meeting their needs with the best banking products and services. We are confident that this initiative will help many SMEs develop their business.”, László Diósi, CEO OTP Bank România.

OTP Bank Romania is a subsidiary of OTP Bank, the largest independent banking group from Central and Eastern Europe. OTP Bank provides universal services in Hungary, Romania, Montenegro, Croatia, Bulgaria, Russia, Ukraine, Slovakia and Serbia for more than 12 million customers, through a territorial network of over 1500 units, the ATM network and electronic channels.

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