The nominal value of the transaction, was €361 million (£289 million), BoC said in September.
BoC expects the transaction to enhance the Group’s liquidity and will have a small positive impact on the Group’s Common Equity Tier 1 capital due to the release of risk-weighted assets.
The sale is in line with the Group’s restructuring plan and the strategy of deleveraging through the disposal of non-core operations and of focusing on core businesses while, at the same time, strengthening its capital and liquidity position.
Source: Cyprus Mail
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