Kedipes likely to operate as ‘bad bank’ for NPLs next year
The European Commission is expected to grant state-owned asset management company Kedipes the necessary approval to operate as a bad bank during the second half...
Kedipes
Kato Pyrgos angered by move to sell co-op building
Kato Pyrgos community council on Friday voiced objections to a reported decision by asset management company Altamira to sell the former Kato Pyrgos co-op building,...
Six investors short listed to take over Kedipes loans
Six investors have been shortlisted as candidates for the acquisition of a €477m package of performing loans belonging to state-owned asset manager Kedipes. According to...
PEPs with bad debts at former co-op published
Parliament on Monday published a list of the names of politically exposed persons (PEPs) with bad debts at the former co-op bank, which includes mostly...
700 borrowers deemed non-viable for loan subsidisation under ESTIA scheme
A total of 700 borrowers with non-performing loans (NPLs) amounting to about €173 million were deemed non-viable for loan subsidisation under the Estia scheme, sources...
PEPs had substantial loan amounts written off (Updated)
Politically exposed persons (PEP) had substantial loan amounts written off or swapped debt for assets of lower value, among others, an audit into the entity...
Kedipes expects 25 per cent drop in revenue
The Cyprus Asset Management Company’s (Kedipes) expects a 25 per cent drop in revenues at the end of 2020, compared to last year, the decline...
Kedipes cash inflows dip to lowest point
During the second quarter of this year the Cyprus Asset Management Company’s (Kedipes) cash inflows dipped to their lowest point since the entity’s inception. In...
Coronavirus: Kedipes sees income drop in Q1 (Updated)
Kedipes, the state-controlled company set up to manage the co-op’s non-performing assets, saw a 35.6 per cent drop in income in the first quarter of...
Eurobank, Kedipes report strong 2019
In announcing its results for the last quarter of 2019, showing improvements across several metrics including profits and capital adequacy, Eurobank this week said it...
Coronavirus: Foreclosures suspended until June 30
The state asset management company Kedipes said Friday it was suspending foreclosure procedures until June 30, in line with a government request. In a statement,...
Failure of mortgage relief scheme a ‘negative development’
The lack of interest by stricken borrowers in the Estia mortgage-relief scheme is a negative development for the state-owned Cyprus Asset Management Company (Kedipes), officials...
Workers at Co-op subsidiary go on strike
Some 250 workers at the Cyprus Asset Management Company (Kedipes) and its affiliate Altamira, a real estate company, staged a 24-hour strike Monday, a shot...
State-owned asset-management company brings in €288m in its first 10 months
The Cyprus Asset Management Company (Kedipes) generated income of €288.3 million in the first 10 months of operation of the state-owned asset manager, established following...
State-owned company told – again – to come clean over loans to politically exposed persons
The attorney-general has reaffirmed the state-owned asset management company’s (Kedipes) obligation to hand over information as part of a probe into the possibility of the...
Kedipes ‘stalling’ probe into loans held by PEPs (update)
THE state-owned asset management company (Kedipes) appears to be stonewalling a probe into the possibility of the co-op bank affording favourable treatment to politically exposed...
Government admits some co-op properties were sold, defying promises
THE government on Thursday admitted the sale-for-cash of certain properties belonging to the now-defunct co-operative bank, but also said it has put an end to...
Kedipes generates €101 million
The state-owned Cyprus Asset Management Company (Kedipes), which was established following the sale of the former Cyprus Cooperative Bank to Hellenic Bank, generated an income...