Bank of Cyprus Public Company Limited (the ‘Bank’) 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 million, with reference date December 31, 2022 (the ‘Transaction’). 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 Transaction supports the Bank’s strategy to grow its performing loan book in the medium term.
