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.