The total amount of funds transferred by OTP Bank to the Superhumans Center for Prosthetics and Rehabilitation amounted to almost UAH 27 million.
Recently, the Bank has completed a charity Christmas auction held in the OTP Bank UA app, which featured iconic lots from prominent personalities: Valeriy Zaluzhnyi, Kyrylo Budanov, First Lady of Ukraine Olena Zelenska, billionaire philanthropist Howard Buffett, as well as famous athletes, actors, artists, etc. In total, there were 37 lots. The amount of money raised during the auction is UAH 5.8 million. Of this amount, UAH 2.9 million were direct donations from customers who made transfers in the app to help the Superhumans Center.
“This is the second major charity auction we have held to raise funds for prosthetics for Ukrainians. Our clients actively joined the initiative, and we are very grateful to them for that. We would also like to thank everyone who donated items for sale. Thanks to them and their willingness to support, Ukrainians who have been injured in the hostilities are receiving treatment and rehabilitation,” said Volodymyr Mudryi, CEO of OTP Bank.
“For the sake of help, we all united together: customers and employees of the bank, famous people and opinion leaders for a worthy cause. We are proud to be able to help Ukrainians, such as Vyacheslav, who worked as a freight forwarder before the full-scale war. Now Viacheslav is undergoing rehabilitation, getting used to using prosthetic legs and preparing for prosthetic arms,” emphasized Lesia Syrota, team leader of the OTP Bank Helps Ukraine charity project, Director of Retail Sales and Network Management Department of OTP Bank.
She said that the Bank had implemented a charity auction in the app for the first time, and the option of direct donations from customers was added for the first time. “In the future, we will offer no less interesting solutions to attract even more people to make contributions to support the Unconquered,” noted Ms. Syrota.
As a reminder, on the occasion of the Independence Day of Ukraine in 2023, OTP Bank also held a charity auction, during which it raised more than UAH 3 million. Another UAH 5 million was transferred by the Bank to create an educational center on the basis of the Superhumans Center to train prosthetists, who are sorely lacking in Ukraine.
In addition, OTP Bank transfers UAH 1 million or more to the Superhumans Center on a monthly basis. Thus, the total amount of assistance has already reached almost UAH 27 million.
OTP Bank uses the latest technologies for the development of factoring services, which allows to significantly speed up work processes and provide financing to customers faster. This was stated by Lina Zaika, Head of Factoring Finance Department of OTP Bank, during the round table discussion “How factoring can support business development during the war” organized by the Financial Club.
According to her, the Bank has switched to full electronic document management: from signing relevant agreements and executing documents on assignment of the right of monetary claim to compiling registers and storing loan files. “We are actively using new technologies, including robots, artificial intelligence and all possible means that help, for example, in verifying supporting documents for loan applications and speed up work processes. We are developing in such a way that our clients can exchange not only electronic documents online, but also receive all the necessary information from the Bank,” said Ms. Zaika.
Factoring financing for small and medium-sized enterprises (SMEs) is an affordable and convenient product. Factoring allows you to get working capital for your business immediately after the delivery of goods, without waiting for the end of the deferred payment period under the contract with the buyer. “This type of financing is especially relevant for small companies with limited assets due to the absence of the need to provide collateral, as well as a reduction in the interest burden for them,” she added.
This instrument of bank financing was supported by the state in the form of the “Affordable Factoring” program, which operates within the framework of the state business support “Affordable Loans 5-7-9%” to provide working capital for SMEs.
OTP Bank was one of the first to join the implementation of the “Affordable Factoring” program. “The bank is already considering several limits and plans to sign the first factoring agreements under the 5-7-9 program in the near future,” said the Head of Factoring Finance Department.
About the state program “Affordable Factoring” (data from the Ministry of Finance). Financial support for business entities under factoring agreements provides for compensation of the interest rate at the level of up to 13% per annum. The authorized factor will provide factoring to a business entity in the amount of up to 95% of its receivables, but the amount of financing cannot exceed UAH 150 million, including funds received under the programs “Affordable Loans 5-7-9%” and “Affordable Financial Leasing 5-7-9%”. The program is open to SMEs resident in Ukraine that supply goods manufactured by Ukrainian producers on a deferred payment basis, whose ultimate beneficial owners (controllers) are individuals resident in Ukraine and agricultural producers.
OTP Bank offers small and medium-sized businesses loans for the purchase of equipment with the possibility of reimbursement of part of the costs financed by the bank. Such loans are provided as part of the EBRD’s SME Competitiveness Program in the Eastern Partnership countries.
According to Natalia Kondratchuk, Director of Corporate Finance at OTP Bank: “The purpose of the program is to develop lending aimed at purchasing energy-efficient machinery and equipment by micro, small and medium-sized enterprises and investing in energy-saving technologies. In particular, such financing is intended to meet the needs of local agricultural producers to upgrade their agricultural machinery fleet with products of well-known global brands. In doing so, the borrower will be able to claim compensation for part of the costs financed by the bank’s credit facilities.”
The amount of compensation depends on the type of assets acquired and can reach 20% of the loan proceeds. The reimbursement will be made in euros, approximately within a month after the borrower has documented the intended use of the funds and the EBRD has verified the documents.
The average amount of loans under the program is expected to be the hryvnia equivalent of EUR 300 thousand, but the amount of each loan is determined by the details of the investment project, which must be acceptable to the EBRD. The minimum loan term is 24 months and the maximum is 60 months. The loan is secured by a pledge of the purchased equipment, a financial guarantee of the borrower’s owners and additional collateral if necessary. The loan agreement is implemented under the EBRD’s risk-sharing program, so the project to be financed must also meet its criteria.
OTP Bank offers loans with such unique cost compensation to its clients with no more than 249 employees and annual revenues not exceeding the equivalent of EUR 50 million or the currency of the annual balance sheet not exceeding the equivalent of EUR 43 million in UAH equivalent.
The borrower company must have been operating in the Ukrainian market for at least 3 years and meet other requirements set by OTP Bank and the EBRD, including a positive credit history.
In December, OTP Bank made a charitable contribution of UAH 11 million to the Superhumans Center. This amount includes UAH 10 million for the creation and provision of personalized wards for the Superhumans Center, as well as UAH 1 million for prosthetics for the center’s patients.
“In this powerful partnership with the Superhumans Center, we are inspired and motivated to seek and find new opportunities to support our heroes. As a result, the patients will receive the necessary rehabilitation, and the center will receive additional equipment,” said Volodymyr Mudryi, CEO of OTP Bank.
The total amount of OTP Bank’s assistance to the Superhumans Center has already amounted to UAH 21 million: in addition to the UAH 11 million just transferred, more than UAH 3 million was raised at a charity auction dedicated to the Independence Day of Ukraine, and OTP Bank added to these funds and transferred another UAH 5 million to the Superhumans Center to create an educational center on its basis. In addition, the bank transfers UAH 1 million to the Superhumans Center’s account on a monthly basis.
“As long as our heroes need support, we will not stop! We urge all our customers and partners to join the bank’s charitable initiatives,” said Lesia Syrota, OTP Bank Retail Sales Director and team leader of the OTP Bank Helps Ukraine project.
Thus, until December 25, OTP Bank is holding a charity Christmas auction, the proceeds from which will also be transferred to the Superhumans Center for prosthetics for defenders who lost their limbs in the war and need comprehensive treatment and rehabilitation. All customers of the bank can take part in the charity auction in the OTP Bank UA app. The full list of lots is available on the website.
We remind you that in September OTP Bank and Superhumans Center signed an agreement on charitable donation for 2023-2024.
OTP Bank (Kyiv) has signed a loan agreement with Concern Khlibprom PJSC, part of OKKO Group, for UAH 200 million for a three-year period to replenish working capital, the financial institution said in a release on Monday.
“Financing of food industry enterprises is currently one of the priority areas for the development of OTP Bank’s corporate business. The agreement with Concern Khlibprom is another confirmation of the successful implementation of this strategy,” Alla Biniashvili, a member of the Management Board of OTP Bank, said in the statement.
There is no information on the cost of the loan and its other terms.
According to the release, Concern Khlkbprom is one of the largest enterprises in the Ukrainian bread market, producing over 160 tons of bread, bakery, confectionery, and semi-finished dough and coffee products daily. The company’s structure includes five production units with a total staff of over 3000 employees.
In particular, the company’s products are represented on the Ukrainian and international markets by such brands as Agrola, Vinnytsiakhlib, Bandinelli, TM 2GO, Grill & Bakery, and Ljubljana. Khlibprom also owns its own coffee brand Harmony Sentivi.
“In 2022, Concern Khlibprom increased its net profit by 23.7% to UAH 21.1 million on revenue growth of 15.4% to UAH 1 billion 702.1 million, and its assets grew by 8.4% to UAH 920.3 million. Long-term liabilities increased by 1.2% to UAH 270.2 million, while current liabilities increased by 16.5% to UAH 327.7 million.
Effective interest rates on hryvnia loans ranged from 13.31% to 15.95% at the beginning of this year.
OTP Bank, a wholly owned subsidiary of the Hungarian OTP Bank Plc, was 10th among 63 Ukrainian banks in terms of total assets (UAH 103.14 billion) as of the beginning of October 2023.
OTP Bank has launched a charity Christmas auction, which will last from December 4 to December 25. All the funds raised will be transferred to the Superhumans Center to provide prosthetics to defenders who lost their limbs in the war and need comprehensive treatment and rehabilitation.
The auction participants will be offered exclusive lots: a Christmas lot from the First Lady, a flag of Ukraine signed by Valeriy Zaluzhny, boxing gloves signed by Vitali Klitschko, Elina Svitolina’s tennis racket, a T-shirt signed by billionaire Buffett, a collection of works by Serhiy Zhadan, as well as commemorative coins, stamp sets, unique Christmas decorations – all signed by celebrities.
All customers of the bank can take part in the charity auction through the OTP Bank UA app.
The full list of lots is available on the website.
“It is through charity that every responsible business today can and should help society. After all, the country, the economy, citizens, and, of course, our defenders need support. This is the second major charity auction held by OTP Bank to raise funds for prosthetics for our heroes,” said Volodymyr Mudryi, CEO of OTP Bank.
“I would like to draw attention to a unique opportunity, a feature that no other bank has: the auction is held online in the OTP Bank UA application. I am sincerely grateful to our development team who managed to implement such a seemingly “useless” feature in terms of banking operations, but such a relevant one for charity, which will help each client both to join the auction and simply donate to Superhumans. The aesthetic and emotional component is also important – those who make a donation will receive a unique author’s “shirt” on their bank card by Christmas. Let’s do a good deed and help our 25 Heroes by December 25!” called Lesia Syrota, OTP Bank Retail Sales Director and team leader of the OTP Bank Helps Ukraine project.
She also emphasized that the lots presented at the auction are unique. “For example, collectible cards are a limited collection: “MOST WANTED. Ukrainian edition”, which cannot be found on sale. Or a flag of Ukraine with the DIU emblem and Kyrylo Budanov’s signature, or a didukh signed by the genius Ada Rogovtseva, a symbol of Christmas in Ukraine. But the most important thing is that the funds raised will be used to provide real help to our soldiers in need of prosthetics. And it is in your power to support Ukrainian heroes,” summarized the project’s team leader.
Superhumans Center is an ultra-modern center for the rehabilitation of adults and children affected by war, established on the basis of the Yuriy Lypa Lviv Regional Hospital for War Veterans and the Repressed in April 2023. The center provides prosthetics, complex reconstructive surgery, rehabilitation and psychological support to Ukrainians who have been injured in the war. The center plans to treat up to 3,000 patients annually.
