The Board of Directors of state-owned asset manager, KEDIPES, has decided to disburse another €80 million to state coffers for the fourth quarter of this year, with the amount paid to the state in 2022 reaching €310 million.
Announcing the decision in a press release, on Thursday, KEDIPES said that in total cash repayments to the state have amounted to €880 million since September 2018.
KEDIPES was established as the residual entity of the former Cyprus Cooperative Bank, whose performing assets and deposits were sold to Hellenic Bank. The Cypriot government provided state aid amounting to €3.5 billion to facilitate the transaction.
Source: Cyprus News Agency