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Finance Minister Harris Georgiades has said that investor interest for the Cyprus Cooperative Bank is significant.

Georgiades who was replying on Wednesday evening to a question on the matter after a meeting with Citizens Alliance President Giorgos Lillikas said that on the basis of the information he has so far "there is investor interest and rather significant at that", but added it would be best to wait until the end of tomorrow in order to have a full picture. He did not wish to elaborate further.

Referring to the meeting he said they discussed the banking system and various ways forward as regards non performing loans (NPLs) which he said is the last problem left from the economic crisis.  The Finance Minister said he asked for Lillikas` support in Parliament when legislative measures are submitted by the government and expressed the view that the problem of NPLs will be able to be effectively dealt with collectively.

On his part Lillkas thanked Georgiades for briefing him and expressed his satisfaction, among others, because a committee of experts which was decided at Political Leaders Council recently to formulate proposals on dealing with the problem of NPLs will be convened after Easter.

Cyprus Cooperative Bank (CCB) Ltd provided access on March 19, 2018 to a virtual data room in order to attract investors to the bank`s share capital, aiming to reduce the state`s stake in its ownership structure.

The deadline of this invitation for expressions of interest is on Thursday, March 29, 2018, by 1200 (London time).  After this period the interested investors will have time to register their binding offers. CCB  has appointed Citigroup Global Markets Limited as its exclusive financial adviser on the process.

Source: Stockwatch