OTP Bank issued the first guarantee in the framework of the documentary limit in the amount of 1.5 billion established international investment Bank

OTP Bank issued the first Bank guarantee within the established documentary limit in the amount of 1.5 billion rubles between OTP Bank and the International investment Bank (IIB).

The Bank guarantee issued under counter-guarantee of the IIB on behalf of a leading distributor of medical supplies, one of the leaders of pharmaceutical market in Russia – OOO "FC PULSE". This documentary limit will allow the company to make the payment for the supply of medicines by the largest Hungarian manufacturers.

"Support of Hungarian companies, primarily Hungarian exporters and investors operating on the Russian market, is one of the key tasks of OTP Bank, - said Igor Belomyttsev, Deputy Chairman of the Board of OTP Bank. The leaders of the Hungarian pharmaceutical industry, not just sell their products in Russia, but also actively invest their capital in the development of production of medicines in Russia. The beginning of a successful cooperation with OOO "FC PULSE" and the International investment Bank we consider it a privilege for themselves, but the Agreement greatly expands the possibilities of Hungarian and Russian companies for the common good of our countries."

"Raising the standard of living of the population in the member States largely due to the development of such flagship industries as pharmaceuticals. The agreement aims to support the pharmaceutical industry in Russia and Hungary, - said the Deputy Chairman of the Board of IIB Denis Ivanov. - In addition, an important significant integration effect of the transaction. It guarantees high quality medicines to consumers in Russia through the cooperation of the IIB with one of the industry leaders, as well as the expansion of Russian-Hungarian trade relations and the increase in the production of medicines in Hungary."

International investment Bank (IIB) established in 1970. At the moment member countries/shareholders of the Bank are Bulgaria, Hungary, Vietnam, Cuba, Mongolia, Russia, Romania, Slovakia and the Czech Republic. With the end of 2012 in the IIB made fundamental reform and has the ratings of S&P Global Ratings – BBB (Outlook stable), Moody's – Baa1 (Outlook positive), Fitch – BBB (positive Outlook), and Dagong (positive Outlook).

OTP Bank is a universal credit organization providing a wide range of banking services and products for individuals and corporate clients, confidently included in the ranking of the TOP 50 largest Russian banks ("INTERFAX-100" on January 1, 2018). OTP Bank is a part of international financial Group OTP (OTP Group), one of the leaders of the financial services market in Central and Eastern Europe. OTP Bank takes the 2nd place in the market of POS-lending (FrankResearch Group on 1 January 2018) and 7th place in the credit card market (Frank Research Group on 1 January 2018). OTP Bank is the participant of system of obligatory insurance of deposits.

November 1, 2017, the International rating Agency Fitch Ratings upgraded the viability rating of OTP Bank from b+ to bb-. Long-term Issuer default rating (IDR) were affirmed at the same level "BB" with a stable Outlook.