Financial Services category powered by
BoC to acquire €58m KEDIPES performing loan portfolio
15:27 - 19 December 2023
Bank of Cyprus Public Company Limited has entered into an agreement with Cyprus Asset Management Company (KEDIPES) to acquire a portfolio of performing and restructured loans with gross book value of c.€58 mn with reference date 31 December 2022.
According to an announcement from the bank, the Transaction is expected to be broadly neutral to the Group’s income statement and capital position.
The Transaction is subject to relevant regulatory approvals and is expected to be completed in 1Q2024, the announcement noted.
It added that the Transaction supports the Bank’s strategy to grow its performing loan book in the medium term.
News Feed
19 minutes ago Economy
Cyprus will succeed in shaping a stable investment environment, President says26 minutes ago Economy
Cyprus GDP rises to highest rate since Q4 202234 minutes ago Economy
The 1st Cyprus Forum London takes place with Shipping Deputy Minister as keynote speaker36 minutes ago Financial Services
ECB Supervisory Board to meet for the first time in Cyprus37 minutes ago Companies
Invest Cyprus-CYFA sign MoU for further development of Cyprus business ecosystem1 hour, 10 minutes ago Companies
Soula App secures €500,000 investment at Shark Tank Malta1 hour, 20 minutes ago People
Crowdbase prepares to launch Moving Doors crowdfunding campaign