KEDIPES hits €1.36B milestone in state aid repayments, KNEWS

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28 JUNE 2024 - 13:27

KEDIPES has announced a €60 million cash repayment made on June 26, 2024, as part of its ongoing efforts to repay state aid received by the former Cyprus Cooperative Bank. This payment, previously disclosed in the KEDIPES Operations Management Progress Announcement for the first quarter of 2024, pertains to the cash flows of the second quarter.

KEDIPES, the asset management company handling the legacy operations of the defunct bank, stated that the total cash repayment for the year 2024 will reach €200 million.

Since its inception in 2018, KEDIPES has repaid a total of €1.36 billion against the state aid provided to the former Cyprus Cooperative Bank.

[Information sourced from CNA]

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