KEDIPES reaches €2 billion milestone in state aid repayment

KEDIPES, the asset management company handling the legacy of the former Cyprus Cooperative Bank, announced a new €60 million cash payment for the third quarter of 2026. This transaction brings the total amount of state aid repaid since the company's inception in 2018 to over €2.002 billion.

The total repayment is comprised of €1.820 billion in cash, the transfer of 247 properties to the Republic of Cyprus valued at €48 million, €121 million spent on the 'Rent for Installment' scheme covering 978 residences, and €13 million in other debt payments such as the 'Estia' scheme. Beyond state aid repayment, KEDIPES has also fulfilled €355 million in legacy obligations from the former Cooperative Bank, including staff redundancy plans and asset transfer agreements, while contributing €158 million in taxes.

Currently, KEDIPES maintains cash reserves of €50 million to continue funding the 'Rent for Installment' scheme, which aims to eventually support over 2,000 households. An additional €30 million is reserved for settling obligations with Eurobank Limited regarding the repurchase of non-performing loans associated with a legacy guarantee scheme.