Theano Thiopoulou
KEDIPES has paid more than half a billion to the state in three and a half years, but still owes € 3 billion, out of a total of € 3.5 billion in state aid that must be returned by 2028.
Yesterday, during the presentation of the management progress, by the Chairman of the Board Lambros Papadopoulos, it was announced that with the last payment of € 60 million in cash to the state, in December 2021, the total amount of repayment of state aid in cash amounted to € 250 million in 2021 and cumulatively to € 570 million from the start of the works of KEDIPES, in September 2018.
This means that KEDIPES owes the state € 2.93 billion and will have to repay them in six years, ie about € 500 million per year. The transfer of real estate to the state of approximately € 140 million is pending, which will increase the total repayment to € 710 million.
During the presentation of the management progress it was mentioned that with the successful completion of the “Ledra” project, which concerns the sale of serviced loans with a nominal value of € 476 million, the total repayment of state aid in 2022 will exceed € 1 billion. The future repayment of state aid aid is directly related to the possible transformation of KEDIPES into a national asset management company, according to the relevant announcements of the Ministry of Finance. Mr. Papadopoulos acknowledged that the road is long, explaining that KEDIPES 'business plan envisages cash flows of € 4.8 billion, so that the company can repay the state aid of € 3.5 billion.
Regarding the issue of reducing the staff of KEDIPES, after the failure of the voluntary departure plan, Mr. Papadopoulos said that the company provided the unions with an updated report on the needs of the staff and now expects them to enter into a “creative dialogue »Until February 9. “Otherwise, we will take the next steps, based on the legal actions we can take,” he said, recalling that the issue of surpluses remains on the table, based on the decisions of the Board of Directors. It is recalled that 39 employees chose the retirement plan, compared to the target of 130 people. He explained that the updated report clearly highlights that in the immediate first phase the needs of KEDIPES do not exceed 300 people, compared to 360 today.
Regarding the properties sold by Altamira, the average sale price of properties from 1/9/2018 to 31-12-2021 was about 2.2% of the recovery price. In total, 1,372 properties amounting to 164.3 million were sold within 1 year of their recovery, recording a strong buying interest in the market, with the exception of the period March – May 2020, due to a pandemic. Cumulative receipts from real estate sales through Altamira until 31-12-2021 amounted to € 449.7 million and cumulative receipts from rents amounted to € 16.2 million. In relation to the KEDIPES agreement, they have been paid to Elliniki amounts of € 13.8 million in relation to the work transfer agreement. Within the framework of the Asset Protection Scheme to Elliniki, payments of € 78.2 million have been made by the end of 2021.
