OTP Bank Romania announces the supplementation of the credit guarantee ceiling for small and medium enterprises granted within the governmental IMM Invest Romania Program, developed through the National Credit Guarantee Fund for Small and Medium Enterprises, thus continuing to play an active role in this program and support Romanian entrepreneurs in difficulty.
The bank's representatives welcome the decision of the National Credit Guarantee Fund for Small and Medium Enterprises taken at a time when the initial amount granted to OTP Bank under this program, amounting to approximately 340 million lei, has been already used in full. Thus, in approximately three months from the start of the IMM Invest Romania program and from the signing of the Agreement with FNGCIMM, OTP Bank has allocated guaranteed funds for SMEs in sectors such as: services, trade, production, transport and construction.
“From the very beginning we believed that the IMM Invest Romania Program can be the driving force needed to relaunch the Romanian economy and that breath of oxygen that small and medium-sized companies in difficulty need. The fact that we have already used in full the allocated limit of the Guarantee and Payment of Grants Convention shows the involvement of my colleagues in supporting the business environment, but also a great need for entrepreneurs to be backed by the state. By doubling the credit ceiling, we continue our mission, that of being in solidarity with our partners", said Roxana Hidan, Deputy CEO Retail Division, OTP Bank Romania.
"Over time, we have created a collaborative relationship based on efficiency and trust with OTP Bank, and now this solid partnership is bearing fruit. I am delighted and I congratulate the entire OTP Bank team for the extraordinary efforts it has made since the beginning of the IMM INVEST program, for granting a significant number of guaranteed loans, which led to the first guarantee ceiling to be used in full and the request for an additional funding ceiling. As I have said from the beginning, the Romanian Government is interested in the capital injection to reach the economy as soon as possible, so it is natural to welcome the results of banks that manage to transfer money to SMEs as soon as possible, to supplement the ceilings for these banks and reallocate resources from the lenders enrolled in the program who cannot keep up with this pace. We thank OTP for the full support of IMM INVEST and we continue to count on the same commitment and involvement in order to implement the new government programs, which will be operationalized by FNGCIMM in the next period: IMM LEASING OF EQUIPMENT, with zero financing advance, IMM Factoring with regress for the state guarantee of the commercial credit and IMM Discount for the advance collection of checks and promissory notes. These programs implemented together with our banking partners, represent the pillars of the relaunch of the Romanian economy, a reset of the SME sector and an encouragement for the banking system to finance the economy", said Dumitru Nancu, General Manager of FNGCIMM.
Interested companies can continue to apply for state-guaranteed loans with subsidized costs, according to the law. By filling in the special form created on the OTP Bank website, companies can receive the necessary consultancy for accessing credit solutions through the IMM Invest Romania Program: https://www.otpbank.ro/ro/imm/credite/imm-invest-romania.
About OTP Bank Romania
OTP Bank Romania, a subsidiary of OTP Group, is an integrated and self-financed provider of financial services. With an approach defined by responsibility, commitment and professionalism, OTP Bank Romania understands the needs of clients and the current context of the market and is a trusted partner in the provision of financial services. The bank ranks 9th in terms of assets in the ranking of banking players in Romania, as of December 2018.
OTP Group has more than 70 years of activity in the financial sector in Central and Eastern Europe, while the Romanian subsidiary has marked 16 years of presence in the local market. Promoting innovation, stable growth and integrated financial services, OTP Group has become a dominant player in the Central and Eastern European market and is considered an important banking group even on a European scale. The community of about 36 thousand employees serves nearly 19 million customers daily in 12 countries.
