Sale of non-core assets to improve Co-op’s capital buffers

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Sale of non-core assets to improve Co-op’s...
 © BusinessMail 2018
By Stelios Orphanides

Wednesday’s agreement to sell nine cooperative companies to its past owners will help the bailed-out Cyprus Cooperative Bank recover some lost ground in its capital basis, an executive said.

“The transaction will improve the core equity tier 1 capital (CET1) ratio by up to 0.15 percentage points,” Yiannos Stavrinides, the bank’s head of strategy and transformation, said in a telephone interview on Thursday in reference to yesterday’s €70 million deal.

At the end of September, the ratio of the bank’s €1.1bn CET1 to its €7.4bn risk-weighted assets was 15.23...


Sale of non-core assets to improve Co-op’s capital buffers


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