APS announces the acquisition of a portfolio of Romanian related Non-Performing loans and repossessed properties with total contractual value of €147 million from Bank of Cyprus Group.

The sale of this portfolio is in line with Bank of Cyprus’ strategy for deleveraging non-core assets and achieving sustainable and profitable medium to long-term growth.

>>> Read the announcement in Greek Language <<<

Mr. Martin Machoň, the CEO and owner of APS, noted, “The Romanian market remains very important for APS. This transaction has strengthened our position on the market as the largest distressed debt investor and manager. With the newly launched APS Credit Fund, our strategy is to keep growing by exploring unique investment opportunities and purchasing new portfolios. We are very pleased that we have had the opportunity to cooperate with the Bank of Cyprus on such a strategic transaction. We are grateful to the Bank of Cyprus for their professional partnership on this deal.”

Mr Michalis Athanasiou, Director Large & International Corporate, noted: “This transaction relates to the sale of a residual portfolio of Romanian assets by the Bank, following the winding down of operations in Romania over the last years. The transaction further strengthens the Bank’s core operations and is in line with Bank’s strategy. We would like to thank APS for the cooperation and constructive approach in concluding this transaction.”