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Completion of the sale of a €58.4 million portfolio of serviced loans from KEDIPES

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Ολοκλorρωση πλ ;ησης χαρτοφυλακiου εξυπηρετ&omicron ;yμενων δανεΙων €58.4 εκατ &Pi?&Epsilon?&Sigma?

Alexia Kafetzis

The completion of the sale of a portfolio of serviced and informed restructured loans with a total gross book value on 12/31/2022 of €58.4 million to Bank of Cyprus Public Company Limited announced on Thursday the Cyprus Asset Management Company (KEDIPES).

As stated in the announcement, the transaction in question does not have a significant impact on the company's income statement and is part of the implementation of of KEDIPES's strategy, which includes loan portfolio sales as an important tool to deleverage the portfolio it manages and maximize the repayment of the state aid received by the former Cyprus Cooperative Bank Ltd from the Republic of Cyprus in 2018, as soon as possible.

It is further noted that the involved borrowers, guarantors and collateral providers of the loans included in the transaction will be informed accordingly within the next few days by means of letters in accordance with Article 19(2) of the Credit Facility Sales and Related Matters Law of 2015 (N. 169(I)/2015).

Source: 24h.com.cy

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