New overdraft facilities transferred to Hellenic Bank
13 September 2018
Hellenic Bank Public Company Ltd (the “Bank”) announces that within the
framework of the agreement dated 25 June 2018, as amended, between the Bank
and the ex Cyprus Cooperative Bank Ltd (“CCB”), it has agreed the transfer of
4.559 new overdraft facilities of customers of CCB to the Bank.
The agreement relates to 4.559 overdraft facilities with total limits of €25 million
and total balance outstanding of €21 million, of which 3.670 facilities relate to
individuals and 889 facilities relate to companies. The relevant facilities were
connected directly or indirectly to non-performing exposures and were not
transferred to the Bank during the acquisition of certain assets and liabilities of
the ex-CCB which was completed on 3 September 2018.
The Bank will activate the said facilities immediately and will inform the
HELLENIC BANK PUBLIC COMPANY LIMITED