Cumulative cash inflows since the beginning of the operations of the Cyprus Asset Management Company (KEDIPES) reached €1.340,5 million until the 31st of March, 2022.
According to its progress report covering the period between September 2018 – March 2022, cash inflows in the first quarter of 2022 increased by 1%, reaching €116.3 million, compared to the fourth quarter of 2021 and an increase of 13%, compared to the corresponding quarter of last year.
KEDIPES also proceeded to full repayment of state support of €740 million and announced that its board of directors approved the revised Service Level Agreement with Altamira.
Cash inflows of the 1st quarter of 2022 amounted to €116.3 million, recording a small increase of 1%, compared to €115.5 million in the fourth quarter of 2021, and an increase of 13.8%, compared to €102.2 million in the corresponding quarter of 2021.
The progress report notes that challenges in the first quarter of 2022 continued due to the pandemic, however inflows from loans remained high at €66.9 million compared to €72 million in the fourth quarter of 2021 recording a decrease of 7.1% and an increase of 29.9% compared to €51.5 million in the first quarter 2021.
Source: Cyprus News Agency