Slovak Investment Holding and OTP Banka Slovensko are launching a collaboration to boost investments in energy efficiency of apartment buildings

Bratislava, July 2, 2019 - Slovak Investment Holding (SIH) and OTP Banka Slovensko (OTP Bank) are launching a collaboration with the aim of providing preferential loans to the owners of apartments and non-residential premises to facilitate comprehensive renovation of residential buildings in order to increase their energy efficiency. The loans programme  is expected to support around 500 apartment buildings. The loan applications can be submitted already in the second half of this year.

The basis for these preferential loans for owners of apartments and non-residential premises is a combination of SIH funds, which emanate from the Integrated Regional Operational Program, and OTP Bank funds. As a project partner, SIH will provide a €39.4 million loan facility to OTP Bank and this will lead to €56.3 million of total loan financing volume from both partners to the market.

This product sets up opportunities for the provision of more favorable financing for apartment owners and non-residential premises to thoroughly renovate and enhance the energy efficiency of apartment buildings. This coopearation between SIH and OTP Banka envisages the possibility of supporting up to 500 residential buildings by 2023. Candidates can submit loan applications this year at any OTP Bank branch in Slovakia.

"Increasing energy efficiency is a vital element in environmental protection. That is why I am delighted that, along with OTP Bank, we have the opportunity to contribute positively to progress in this direction. In addition, OTP Bank has strong relations in most regions of Slovakia where support from this financial instrument will be targeted", stated Ivan Lesay, CEO of SIH.

"I look forward to providing clients with preferential loans to increase the energy efficiency of their accommodation. We view our cooperation with SIH as a small contribution, not only to savings in family budgets, but also to environmental protection", stated Zita Zemková, CEO of OTP Bank, Slovakia.

SIH is in the process of preparing other financial instruments to increase energy efficiency measures, in both residential and non-residential premises, public buildings, or in small and medium-sized enterprises.

 

Slovak Investment Holding

SIH is a 100% state-owned joint stock company. Its primary goal is to support strategic public and private investments in Slovakia in the areas of infrastructure, energy efficiency, waste management, social economy, health, cultural and creative industries and small and medium-sized enterprises. SIH draws on European Structural and Investment Funds to make investments. Projects are financed exclusively in a repayable form, i.e., using financial instruments rather than grants.

 

OTP Bank Slovakia

OTP Bank is a bank providing comprehensive financial services and with a full banking license. It has been operating on the Slovak market since 2001 and its majority shareholder is OTP Bank Nyrt. Hungary with an ownership share of 99.44%. The bank has 58 branches throughout Slovakia.