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Wednesday, April 24, 2024

Agreement for the Acquisition of a Portfolio of Serviced Loans

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ΣυμφωνΙα για ;πόκτηση ΧαρτοφυλακΙου Εξυπηρ&epsilon ;τοyμενων Δανεiων

The Bank of Cyprus Public Company Limited (the 'Bank') has entered into an agreement with the Cyprus Asset Management Company ('KEDIPES') for the acquisition of a portfolio of serviced and restructured loans amounting to approximately €58 million. with a reference date of 31 December 2022 (the 'Transaction'). The Transaction is not expected to have a significant impact on the Group's financial results and capital position.

The Transaction is subject to receiving the relevant supervisory approvals and is expected to be completed in the first quarter of 2024.

< p>The Transaction supports the Bank's strategy for medium-term growth of the portfolio of non-performing loans.

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Source: www.kathimerini.com.cy

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