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Hungary’s OTP Bank plans SME lending push

Hungary’s OTP Bank plans SME lending push

>> Member bank plans added support for SMEs through OTP Business 250 Credit Programme

​​​​BUDAPEST, HYngary, 16 April 2015 – Hungary’s OTP Bank, an WSBI-ESBG member, plans HUF10-15 billion (33.7-50 million) in supporting SME this year in the framework of its OTP Business 250 Credit Program, according to director Tibor Csonka at a press conference, last 8 April.

The bank is offering loans of between HUF 10 million and HUF 250 million for current account, working capital or investments. Businesses meeting the appropriate conditions could be eligible for up to HUF100 million of credit without any collateral.

As Deputy-CEO László Wolf reported, Hungary’s SME could grow significantly this year thanks to financing of European Union funded programs and cheap credit available in the framework of the National Bank of Hungary’s “Funding for Growth Scheme”.

SME finance; Capital Markets Union; Capital Markets; Investments