“The purpose of the webpage is to inform the public about the sale of property in possession of the bank and under PMU’s management,” the bank said in an emailed statement on Friday. “The PMU constitutes a specialised department of Hellenic Bank, responsible of managing (its) real property portfolio that includes a variety of properties in Cyprus and Greece”.

The bank added that the bank’s experts are ready to provide assistance to customers and potential buyers at reo.sales@hellenicbank.com or at (+357) 22500900.

The Cyprus Business Mail understands that Hellenic’s PMU will be transferred to APS Recovery Cyprus Ltd, a unit the bank said it will set up to manage its €2.4bn non-performing loans together with APS Holdings S.A., a Czech company specialising in the management of problematic loan bank portfolios. APS Recovery is still in the process of securing regulatory approval.

Source: Cyprus Mail