Co-op aims at NPL reduction enabling €300m IPO inflow

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Co-op aims at NPL reduction enabling €300m IPO...
 © BusinessMail 2018
By Stelios Orphanides

The state-owned Cyprus Cooperative Bank is increasing its efforts to reduce its delinquent loan portfolio to maximise the potential inflow from next the capital increase scheduled next year as investors maintain a wait-and-see stance, two sources said.

“Our official goal is to raise €200m but we will aim for €300m,” a co-op source familiar with the matter said in a telephone interview on Thursday.

The bank, over 99 per cent of it government owned and recapitalised in 2014 and 2015 with almost €1.7bn, is working on a listing on the Cyprus...


This article was automatically added to our system 21-12-2017

Co-op aims at NPL reduction enabling €300m IPO inflow


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