Kedipes announces updated repayment plan for state aid

By September 4, 2026, the Cyprus Asset Management Company (Kedipes) had repaid €1.931 billion of the state aid received in 2018. During the first half of 2026, the company recorded regular cash inflows of €162.9 million, a slight increase of 0.9% compared to the previous year. Chairman Lambros Papadopoulos announced that an additional €120 million in cash is expected to be returned to the state by the end of 2026, pushing total repayments past the €2 billion mark in the fourth quarter.

The company has revised its business plan to shift away from large-scale loan portfolio sales, such as the discontinued 'Ledra 2' project, which were deemed unfavorable to state interests. Instead, Kedipes will prioritize internal management and early loan repayments to maximize recovery. The current objective is to return €3.2 billion, or 90% of the total aid, by the end of 2030.

Since its inception on September 1, 2018, Kedipes has generated cumulative cash inflows of €3.1 billion. The repayment total includes cash, property transfers valued at €48 million, and contributions through various schemes like the mortgage-to-rent program and the Estia scheme. Moving forward, the company remains committed to its 2030 timeline despite market difficulties.