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Tag: otp bank

  • OTP Bank launches the 100% online Personal Loan in lei

    OTP Bank launches the 100% online Personal Loan in lei

    OTP Bank launches a new lending instrument, the 100% online Personal Loan in lei, with a duration of of only 30 minutes for the approval and making the amount available for the customer.

    The online Personal Loan is available for new customers paired with the ”LeZero” current account package.

    This includes Current Account, Debit Card, Internet & Mobile Banking, thus being obtained through a 100% online route, without visiting the bank.

    For the launch of the online Personal Loan in lei, OTP Bank collaborated with the local start-up FintechOS and the consulting partner Deloitte.

    FintechOS technology is used for the digital onboarding procedure and allows automatic data recognition (OCR), automatic data processing in the system and facial recognition, as well as an automatic analysis and decision module.

    The analysis and verification of the customer, the declared income and the credit history take place automatically and, in case of a positive answer, the contract is generated on the spot and is signed electronically.

    Approval and delivering the funds are done in about 30 minutes and do not involve fees for application  analysis, loan administration or opening a current account.

    In addition, if the customer collects the salary in an account opened with OTP Bank, he benefits from a 1 percentage point discount on interest.

    What is ”LeZero” account package

    The ”LeZero” current account package, offered to new customers applying for the online Personal Loan, includes a current account in lei, , a Mastercard debit card in lei and free access to Internet Banking applications (OTPdirekt).

    The ”LeZero” package has a standard administration fee of 12 lei/month.

    If the user collects the amount of at least 1,200 lei/month in the account opened with OTP Bank, and makes at least one payment per month, administration fee is 0.

  • OTP Bank grants EUR 9m financing for the construction of Prima Shops Sibiu

    OTP Bank grants EUR 9m financing for the construction of Prima Shops Sibiu

    OTP Bank provides approximately EUR 9m in financing to real estate developer Oasis Retail Development, for the construction of the Prima Shops Sibiu retail park.

    The first stage of development for the retail park will have a rentable commercial space of 9,000 sqm, distributed in 11 retail units.

    The financing granted by OTP Bank represents 75% of the total investment.

    The retail space delivery towards the future tenants will take place in August 2021, and the opening for the public is sheduled for October 2021.

    In the next development phase several retail stores will be built, which will complete the mix of existing tenants, as well as service spaces and several restaurants.

    Unpon completion, the entire Prima Shopping Center Sibiu project will have a total area of 60,000 square meters and will be one of the largest retail park projects in the west of the country.

  • OTP is suing Croatia for the forced conversion of Swiss francs loans

    OTP is suing Croatia for the forced conversion of Swiss francs loans

    OTP Bank announced on Monday that it has sued the Croatian government to recover losses of about 224 million kuna ($ 34.60 million).

    The bank recorded this losses after the introduction of a law that denominated Swiss francs loans in euro loans in 2015, Reuters reports.

    OTP is one of the largest banks in Croatia and the largest independent banking group in Central Europe.

    According to the Hungarian banking group, Croatia has violated the Investment Protection Treaty between Hungary and Croatia and has decided to initiate arbitration proceedings at the International Center for the Settlement of Investment Disputes (ICSID) at the World Bank.

    About 55.000 Croats have loans denominated in Swiss francs worth about 25 billion kuna ($ 3.73 billion). Most of these loans were contracted in the 2000s, when many people in Central and Eastern Europe were attracted to low interest rates on franc loans.

    In the meantime, however, the significant appreciation of the franc has led to rising costs of repaying loans in francs, and governments in the region have begun to look for solutions to the problem.

    In September 2015, the Croatian Parliament approved a law which allows the conversion of loans denominated in Swiss francs into euros, ignoring threats from banks, which warned that they would challenge the law at ICSID.

    The law allowed the conversion into euros of loans worth $ 3.4 billion to help citizens cope with repayment. The costs of the conversion were to be borne by the banks.

  • OTP Bank launches the Rocket Loan for SMEs. Application is 100% online

    OTP Bank launches the first platform dedicated to clients that are Small and Medium Enterprises (SME) – Rocket Loan. Entrepreneurs who want to obtain one of the financing products on this platform can do so by applying 100% online.

    This innovative process meets the needs of customers, generated by the tendency of digitization and aligned with the organic development strategy of OTP Bank Romania.

    Thus, entrepreneurs can apply online on the new platform to obtain a diversified range of financing products, both unsecured and guaranteed, with a fast and simplified flow.

    Who can apply for Rocket Loan

    The Rocket Loan is intended for SMEs with an annual turnover of up to five million euros. It addresses both existing and new clients of OTP Bank Romania. The maximum amount that can be requested differs depending on the type of product selected and the financial situation of the company.

    The loan cannot exceed the amount of 300,000 € (or the equivalent in RON of this amount) and can be accessed both for the financing of the current activity and for the financing of investments.

    Thus, those who apply online for the Loan Credit will fill in a minimum set of information and upload on the dedicated platform a minimal set of documents: the agreement for questioning at the Credit Bureau, the consultation one for the Credit Risk Center and the last annual balance sheet.

    Based on the information submitted, in a few seconds, a preliminary answer will be received regarding the request, and the approval of the financing will be made within 24 hours at the most. In addition, for even more comfort, customers have the opportunity to select the branch where they want to sign the credit documentation.

  • OTP launched the acquisition mortgage loan with a fixed interest rate

    OTP Bank Romania launched the acquisition mortgage loan with a fixed interest rate during the first five years. The product meets the banking market trend regarding the loan offer addressed to individuals for real estate investments and acquisitions while being aligned with the strategy of increasing the number of clients and of diversifying the loan offer granted by OTP Bank.

    Among the features of the new lending offer, there is the possibility to choose the fixed interest rate in the first five years and a variable interest rate formed by CIRC + fixed margin for the rest of the lending period, but also offering an interest rate diminution for transferring the revenue into a current OTP Bank account.

    „Launching the acquisition mortgage loan with a fixed interest rate during the first five years is in line with the OTP Bank Romania strategy of offering our clients a diversified range of products to choose from, so they can select the one most suited to their risk profile and their own needs. We were nominated Bank of the year in the category of Best Mortgage loan, as such, we intend to remain the best and to evolve in this direction” said Roxana Hidan, Deputy CEO Divizia Retail of OTP Bank România.

  • OTP Bank financed the largest organic blueberries plantation in Romania

    Situated in the Mija village, the I.L. Caragiale commune in Dâmbovița, MerryBerry is the largest organic blueberry plantation in Romania. It currently covers a  100 hectares area, on which the shrubs were planted in 2016 – 2017, meaning that it will reach an annual production of over 1,500 tons of blueberries, starting 2021.

    Thus, MerryBerry has the potential to become the largest organic blueberries plantation in Europe, competing with the big established producers in Spain, Poland, Germany and France.

    The MerryBerry plantation distinguishes by its efficiency and technology: it has modern video surveillance systems, GPS monitoring of the machines and an irrigation system that ensures fruit production regardless of the rainfall water supply. Besides irrigating the crop of blueberries, this system also allows the introduction of fertilizers in the irrigation water after a predetermined nutrition program, at different stages of crop development. The fruits are harvested year by year in June, July and August.

    OTP Bank financed with 10.5 million lei the construction of the MerryBerry refrigerated warehouse, necessary for keeping the blueberries in optimal conditions, sorting them and delivering them in the best conditions to the stores in Romania, England or Germany where the company has distribution contracts.

    For immediate access after harvesting the fruit, it is located in the middle of the MerryBerry plantation and will use the most advanced refrigeration technologies, thus ensuring the freshness of the fruit. The surface of the warehouse is 2500 square meters, and among its facilities there is a high performance automatic sorting and packing line. The warehouse will have three cooling chambers and five CA / ULO chambers.

     „Our contribution to the agribusiness sector is a long-term one and we work closely with the Romanian farmers regardless of the size of their business. Thus, we had the opportunity to observe their tendency to invest in technology more and more, which is why we decided to expand the range of products and services addressed to them. We have for products and services designed to support them in this endeavor, having the potential to change the Romanian agriculture for the better. Financing the MerryBerry deposit is another step we take in this direction”, said Alexandru Neagu, SME Division Director, OTP Bank România.