aps acquires boc portfolio of romania-related loans

aps has received a portfolio of romania-associated non-appearing loans (npls), and repossessed houses with overall contractual value of €147 million from financial institution of cyprus (boc) group.

the sale of this portfolio is in step with boc’s approach for deleveraging non-center belongings and attaining sustainable and worthwhile medium to lengthy-term increase.

“the romanian market remains very important for aps,” stated aps ceo and proprietor martin machoň. “this transaction has strengthened our role available on the market as the largest distressed-debt investor and supervisor.

“with the newly-launched aps credit fund, our approach is to maintain developing through exploring unique funding possibilities and shopping new portfolios,” he endured, adding: “we are very pleased that we’ve had the possibility to cooperate with the financial institution of cyprus on one of these strategic transaction.

“we’re grateful to the financial institution of cyprus for their professional partnership in this deal.”

for his element, michalis athanasiou, boc’s director of big and global corporate, mentioned: “this transaction pertains to the sale of a residual portfolio of romanian belongings via the bank, following the winding-down of operations in romania during the last years.

“the transaction in addition strengthens the bank’s center operations and is in keeping with financial institution’s approach; we would like to thank aps for the cooperation and optimistic technique in concluding this transaction,” he said.

aps: 3-pillar expertise

aps organization was established in 2004, and, at some stage in its 18 years of lifestyles, the business enterprise has controlled to take a pinnacle function in 15 other nations. it operates particularly within the central and south-eastern eu markets. the organization’s location of understanding includes three pillars: distressed debt investments, opportunity asset control and real-property investments.

the institution currently manages 104 non-performing loan portfolios with a complete nominal cost of over 10.three billion euros.

bank of cyprus: leading local creditors

the bank of cyprus institution is the main banking and economic offerings group in cyprus, supplying a extensive variety of economic services and products, which encompass retail and commercial banking, finance, factoring, funding banking, brokerage, fund management, non-public banking, lifestyles and fashionable coverage.

as of december 31, 2021:

the boc group operated a total of 90 branches in cyprus, of which 10 functioned as cash places of work
the organization’s total property amounted to €25.0 billion, even as total equity become €2.1 billion
the financial institution of cyprus organization employed three,438 personnel international
the bank of cyprus group incorporates bank of cyprus holdings public confined organization, its subsidiary bank of cyprus public corporation restricted, and its subsidiaries.

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