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KEDIPES repays €70m, total repayment to the state now at €1.47 billion

11:51 - 19 December 2024

Financial Services Reporter

State-owned asset management company KEDIPES has made a payment of €70 million in cash for the fourth quarter of 2024, as part of the repayment of the state aid received by the former Cyprus Cooperative Bank.

Following this development on 19 December, the total cash repayment amount for 2024 amounts to €310m. with a simultaneous increase in the cash reserve for the 'Rent-to-Installment' Scheme by €20m. (from €80m to €100m), in view of the increased number of eligible applications.

Since 2018, when KEDIPES began its operations, the total amount of cash repayments against state aid amounts to €1.470 billion.

(Source: InBusinessNews)

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