Filenews 19 December 2024
KEDIPES announced on December 19, 2024 the payment of €70 million. for the fourth quarter of 2024, as part of the repayment of the state aid received by the former Cyprus Cooperative Bank. With this payment, the total repayment amount for 2024 amounted to €310 million, increasing the total repayment amount since the commencement of operations of KEDIPES in September 2018 to €1,470 billion.
Key points
Cash Inflows: Cash inflows for the third quarter of 2024 amounted to €90.4 million, with total inflows of €346.0 million recorded in the first nine months.
"Rent for Instalment" scheme: Increased cash buffer for the scheme from €80 million to €100 million to cover the increasing number of eligible applications.
Real Estate and Loans: The sale of two major office buildings and the promotion of the Ledra 2 project for the sale of part of the loan portfolio are underway, without affecting borrowers' rights.
Asset Reduction: Total asset deleveraging since 2018 amounted to 43.8%, excluding contractual interest on loans.
Loan Management: Total restructuring or recovery solutions for the third quarter of 2024 amounted to €123.6 million, while solutions since the launch of KEDIPES reach €4.325 billion.
KEDIPES continues to adapt to market needs, with increased emphasis on the repayment of state aid and the effective management of its portfolios.
