OTP Bank Albania joins the RCGF loan financing program in the agricultural sector

OTP Bank Albania joins the RCGF loan financing program in the agricultural sector

Banka otp, pagesa, fatura, IBAN, obligacione thesari, kembim valutor,

OTP Bank Albania is part of the RCGF (Rural Credit Guarantee Foundation) program, which aims to facilitate the lending process for microbusinesses and SMEs operating in the agricultural sector and agro-processing industries.

The Cooperation Agreement was signed today on January 23, 2020 by Mr. Bledar Shella, Chief Executive Officer of OTP Bank Albania and Mr. John P. Khoury, Chairman of the RCGF Board of Directors.

The purpose of this agreement is to facilitate the lending process for a segment of rural businesses and markets that do not meet the requirements of Commercial Banks. The latter, according to the regulations in force require security parameters above a certain level allowed by Bank of Albania. At the same time, this agreement aims to deepen penetration to less developed but viable businesses without easy access to financing.

Part of this agreement is a € 35 million financing risk sharing fund between OTP Bank Albania and RCGF. One of the advantages that this deal offers to these businesses is the 12-month grace period that clients can benefit under the umbrella of specific project deals. Businesses operating in these sectors with an annual turnover of up to € 800,000 and staff of up to 35 persons can gain quicker access through the involvement of the Guarantee in the capital of OTP Bank Albania.

OTP Bank Albania continues to be in line with the goals of cooperating with any partner that enables increased lending, securing loans and businesses and favoring lending thus enhancing the quality of the economy and living in the country as a whole.

OTP Bank Albania is the fifth largest bank in Albania in terms of assets and ranks fourth in the country for loan portfolio. With steady growth over the years, OTP Bank Albania currently has € 677 million in assets and a network of 38 branches throughout Albania with the aim of expansion.

Banka otp, pagesa, fatura, IBAN, obligacione thesari, kembim valutor,
Banka otp, pagesa, fatura, IBAN, obligacione thesari, kembim valutor,