Oschadbank has almost doubled the limit under the loan agreement for OKKO Group

Oschad has almost doubled the available credit limit for OKKO Group - from UAH 1.5 billion to UAH 2.85 billion. The agreement is valid for 2 years.

The increase in the credit limit will allow the group to optimally balance operating expenses, in particular, to ensure sufficient fuel reserves, given the development of the market, as well as plans to expand the network of OKKO-branded filling stations. Today, the OKKO network includes 410 filling stations. The group is a leader in the retail fuel market in Ukraine and intends to further strengthen its position.

Oschadbank has a successful history of cooperation with OKKO Group companies since 2016. But the partnership gained its greatest significance with the beginning of the full-scale invasion. Thus, in March 2022, during the fuel crisis caused by both shelling and the need to change traditional logistics routes, when most banks stopped financing the real economy, Oschad opened an overdraft of UAH 500 million for one of the group's companies. This is the fastest financial instrument that allowed the company to import additional fuel in the shortest possible time. Since September 2022, the amount of working capital financing from Oschad for OKKO Group has already reached UAH 1.5 billion.

"The fuel market continues to adapt to wartime conditions, another change in logistics models, and optimization of the number of importers. And it continues to require constant investments to maintain leadership in a highly competitive environment. The trust in Oschad from the leading market player, the largest importer of fuel in 2024, is very important for us. Currently, the loan portfolio that OKKO Group has with Oschadbank is the largest among all their financial partners. But the level of liquidity of Oschad will allow us to further increase the portfolio, given the ambitious plans of our partner," emphasized Yurii Katsion, Deputy Chairman of the Management Board of Oschadbank in charge of corporate business.

"Even in wartime, with systematic enemy shelling of the fuel and energy infrastructure and difficult economic circumstances in general, OKKO Group finds opportunities for development and thus fills the state budget with taxes, creates jobs, donates to strengthen the Armed Forces and rebuild Ukraine. The key to this is the presence of reliable financial partners, among which Oschadbank is one of the largest. Expanding our partnership with Oschadbank will give us greater investment flexibility and the ability to raise funds quickly here and now. After all, our long-term cooperation is a good example of how partnership between private and public business is mutually beneficial and effective," comments Nazar Kupybida, OKKO Vice President for Finance.

For reference

OKKO Group is an all-Ukrainian holding of diversified businesses operating in manufacturing, trade, construction, agriculture, energy, resort, and other services. The group's flagship is the OKKO filling station network. It also operates on-the-go catering facilities, stationary and mobile laboratories for quality control of petroleum products, and other services. The OKKO network divisions are also engaged in the sale of goods through stores at filling stations, the sale of petroleum products in large and small wholesale, the provision of fuel quality expertise services, etc.