Co-op announces deal with Spanish NPL manager Altamira (Update-1)

Click For Larger Image & Read More
Co-op announces deal with Spanish NPL manager...
 © BusinessMail 2017
(Updates with additional background and CEO comment in fifth and thirteenth paragraph)

By Stelios Orphanides

The state-owned Cooperative Central Bank said that it entered an agreement with Spain’s Altamira Asset Management SS to set up a joint unit to which the lender will outsource the management of its delinquent portfolio.

The decision to set up a new unit, 51-per-cent owned by the Spanish financial corporation and 49-per-cent by the Co-op, was taken on Monday at an extraordinary general meeting in Nicosia, the lender said in an emailed statement. In addition to managing...


Co-op announces deal with Spanish NPL manager Altamira (Update-1)


The contents of this article including any associated images are © BusinessMail 2017

Advertise Here

Trending Cyprus News

Article Tags: announces, spanish, manager, altamira, update,

 

Advertise Here

24hr News