Hungary’s OTP Bank sees SME program outlays reaching HUF 10-15 bln

MNB

Hungary’s OTP Bank plans HUF 10-15 billion (approximately €33.7-50 million) of SME outlays this year in the framework of its OTP Business 250 Credit Program, managing director Tibor Csonka said at a press conference yesterday.

The bank is offering loans of between HUF 10 million and HUF 250 million for current account, working capital or investments, Csonka said. Businesses meeting the appropriate conditions could be eligible for up to HUF 100 million of credit without any collateral, he added.

Deputy-CEO László Wolf said Hungary’s SMEs 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’.

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