OTP Bank (Kyiv) has provided Vioil industrial group, a producer of vegetable oils, with a financing limit of UAH 700 million to replenish the working capital of the group’s companies, the bank’s press service said.
“Thanks to the conditions provided by OTP Bank within the loan agreement, Vioil will significantly reduce expenses within the existing loan portfolio in other banks and will direct the saved funds to the development and annual increase in the volume of production,” the bank’s press service said, citing Vioil’s CFO Alla Vlasiuk.
Vioil Group is a producer of vegetable oils in Ukraine. It exports products to more than 60 countries around the world. The group’s assets include eight elevators and three monocultural oil extraction plants with a total processing capacity of 1.1 million tonnes per year.
OTP Bank is the flagship of the OTP banking group, registered by the NBU. It also includes AMC OTP Capital LLC and OTP Leasing LLC.
According to the National Bank of Ukraine, as of June 1, 2021, in terms of total assets, OTP Bank ranked ninth (UAH 65.854 billion) among 73 banks operating in the country.
