April 13 (SeeNews) - The Romanian unit of Hungarian banking group OTP received a 25 million euro ($28.2 million) loan from the European Investment Bank (EIB) in support of small and medium-sized companies (SMEs) and youth employment, the two lenders said in a joint statement on Wednesday.
The loans to final beneficiaries will be used to finance investments and working capital and can be granted for a period of up to 10 years, OTP Romania and EIB said.
OTP Romania posted a consolidated adjusted after-tax profit of 1.48 billion Hungarian forints ($5.3 million/4.8 million euro) in 2015, up from 765 million forints a year earlier.
The results were positively influenced by the consolidation of Millennium Bank, which OTP Romania acquired for 39 million euro in January 2015, OTP Romania said in its annual financial statement.
OTP Bank provides universal financial services in Hungary, Romania, Montenegro, Croatia, Bulgaria, Russia, Ukraine, Slovakia and Serbia for more than 13 million customers, through a regional network of over 1500 outlets, the ATM network and electronic channels.
($=0.8835 euro)
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