Bank of Cyprus acquires €58.4 million loan portfolio

The Bank of Cyprus on Thursday announced that it has acquired a restructured loan portfolio, with a total gross accounting value of €58.4 million, as of December 31, 2022, from state-owned asset management company Kedipes.

In its announcement, the bank stated that the portfolio transfer represents “a significant move for the bank towards increasing its loan portfolio”.

“As the largest bank,” it added, “it continues its strategy to strengthen its healthy portfolio and enhance its market share, always with the aim of better serving its customers and rewarding its shareholders”.