A new cash payment to the state of 140 million euros, this time for the first quarter of 2024, KEDIPES announced a while ago.
Specifically, in a statement it is stated that the Board of Directors of KEDIPES at its last session dated March 27, 2024, decided a new cash payment to the state of €140 million for the 1st quarter of 2024, as part of the repayment of the state aid received by the former Cyprus Cooperative Bank.
This is the largest quarterly cash payment, since the start of KEDIPES operations in 2018 and mainly due to the recent completion of the loan portfolio sale to the Bank of Cypruswith a total gross book value as of 12/31/2022 of €58.4m.
The total amount of the KEDIPES repayment, against the state aid in cash, has so far amounted to €1,300m.
At the same time, KEDIPES announced that it continues to maintain stock €60m in cash, for the purpose of financing the “Rent vs Installment” Scheme of which it is the implementing body.