OTP Bank announces that in order to support SMEs facing economic difficulties and liquidity shortages as a result of the COVID-19 pandemic, it has acted promptly and has taken all necessary steps to join the Guarantee and Payment Grants Convention and to play an active role in the Program for supporting small and medium-sized enterprises - IMM INVEST ROMANIA.
"We understand the urgency and the need to support Romanian entrepreneurs, especially in this extremely difficult context generated by the COVID-19 pandemic. We want, together with them and other players in the banking system, to restart the Romanian economy quickly, to restart the engines and provide incentives for the businesses that need our support. We want to join the governmental program IMM Invest and we consider it a great help for the companies in difficulty as both the interest rate and the guarantee and risk commissions are fully supported from the state budget within a state aid / de minimis scheme”, said Alexandru Neagu, director for SMEs at OTP Bank.
SMEs in Romania wishing to apply for loans granted under the IMM Invest Program must register online starting Friday, April 17, at 10:00 am on the IMM Invest portal, and choose a Bank to collaborate with. Following the submission of the request, FNGCIMM will send to the selected bank the documents registered by the client within the platform, as well as the agreement regarding the eligibility of the beneficiary. Next, the bank manages the process, so that the state aid is well used, in the interest of the Romanian business and economy.
About OTP Bank Romania
OTP Bank Romania, subsidiary of OTP Group, is an integrated and self-funded provider of financial services. With an approach based on responsibility, commitment and professionalism, OTP Bank Romania understands its clients' needs and the current market context, being a reliable partner in the area of financial services. The bank ranks 9th by assets in the top of Romanian banking players, as of September 2018.
OTP Group celebrates on 70 years of existence, while the Romania subsidiary marks 15 years of presence on the local market. By today, OTP Group has grown into a dominant player in the Central-Eastern Europe market and is regarded as a major banking group even on European scale. The community of around 36 thousand OTP staff serves over 18.5 million customers in 9 countries daily.