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Farm sector financing to play bigger role for OTP Bank

Financing for Hungary's farm sector will play a bigger role in the future business policy of OTP Bank, Dániel Gyuris, deputy-CEO of the country's biggest commercial lender, told journalists on Thursday.

OTP Bank's board decided last November to establish a separate division within the bank for the farm sector, said Gyuris, who heads the division.

OTP Bank recently raised the pre-financing proportion of farmers' area-based subsidies and top-ups from 70% to 80-85% and it is even ready to lend some farmers 100% of anticipated subsidies, he said.