APS Group signed a contract to acquire the NPL portfolio of €245 m from Bank of Cyprus Public Company Ltd

Wednesday February 6th, 2019

APS Delta s.r.o., a subsidiary of the Czech-based APS Holding, has reached an agreement with Bank of Cyprus Public Company Ltd to acquire a portfolio of loans with a nominal value of €245 million as of 30 September 2018. The portfolio includes a pool of ca 8,800 consumer credit loans and 900 small and medium-sized business loans.

Following the completion of the transaction, the servicing of the portfolio will be carried out by APS Debt Servicing Cyprus, the first distressed debt servicer in Cyprus.

“The new acquisition underlines the dedication of APS to investing in the Cyprus economy. Our goal is to find more investment opportunities and support banks’ deleveraging,” commented Martin Machoň, CEO of APS Holding.

Viktor Levkanič, Chief Investment Officer of APS, remarked, “We have been actively covering the Cyprus market since 2016. This is our first successful NPL deal. We see strong potential for further investment opportunities in Cyprus.” Data released from the Central Bank of Cyprus show that non-performing exposures have been reduced by €16 billion since December 2014.

Kiki Papadopoulou, Country Manager of APS DS Cyprus, noted, “The transaction is expected to be completed in the second quarter of 2019 and is subject to regulatory and other approvals.”

APS Group is a leading group of companies specialized in investment, management, and recovery of loan portfolios and real estate within Central and South-Eastern Europe. APS provides comprehensive services in distressed and performing loan portfolios, investment advisory, and recovery management and ensures asset management. Involving more than 800 professionals, it provides services in 15 European countries: Austria, Bulgaria, Bosnia, Croatia, Cyprus, the Czech Republic, Greece, Hungary, Luxembourg, Montenegro, Poland, Romania, Serbia, Slovenia, and Slovakia.