OTP Bank, Banco Espirito Santo sign cooperation agreement
Hungary’s OTP Bank and Portuguese peer Banco Espirito Santo (BES) has signed a cooperation agreement to support plans of corporate clients to go international in markets where both banks are present, Hungarian daily nol.hu reported.
Key areas of the cooperation are trade financing, commercial banking and investment banking. The BES is Portugal’s largest listed bank present in 25 countris on four continents.
The cooperation will support Portuguese companies expanding in Romania, Slovakia, Croatia, Serbia, Montenegro, Bulgaria, Ukraine and Russia, in addition to Hungary. It will benefit OTP Bank's big corporate clients who do business in places such as China, India, Africa and South America.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.