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KEDIPES is expected to move forward in its transformation into an asset management company (a ‘bad bank’), StockWatch reported on Monday.

The company, which was set up to manage non-performing loans from the failed Cooperative Bank, currently has about €480 million in NPLs from various sources up for sale.

By the end of August, an advisor is expected to be appointed by the Ministry of Finance   to manage the whole process, according to the report.

KEDIPES has pre-selected six potential investors, including domestic financial institutions and investment companies that have a physical...

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Article automatically added to our system on Tuesday, August 24, 2021

Cyprus Business Now

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