The privatisation process launched by the nationalised Cooperative Cyprus Bank may lead to the creation of an Asset Management Company (AMC) also called as a bad bank which will manage non-performing loans, Harris Georgiades, Cyprus Finance Minister said.
The CCB launched on March 19, 2018 a privatisation process offering two options either the acquisition of the banking entity as a whole or the acquisition of assets (mainly loans) liabilities as well as part of the bank’s branch network.
According to the CCB, the process attracted “significant investor interest” both from financial entities in Cyprus and abroad.
Source: CNA
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