KSG Agro received UAH 40 million from OTP Bank

08.08.2013

According to the official information released by OTP Bank, KSG Agro received UAH 40 million loan from the Bank, as negotiations regarding the loan were held since July, 2013. It has been stated that the funds attracted will be used for financing growth and production of agricultural commodities. OTP Bank top management stated that the bank is willing to be seen as an entity actively involves in financing Ukrainian agricultural sector. Both parties are satisfied with the cooperation thus far.

UkrAgroConsult comment: Lack of funds in 2013 is perfectly reflected in this deal. While in 2012 companies were securing loans for modernization and expansion of the land bank, few of the 2013 loans that were attracted were claimed to be used for financing ongoing operations of these companies.     

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