NICOSIA - The Bank of Cyprus is selling the buildings of collapsed Laiki Bank in the U K, a BoC source confirmed on Wednesday.
The source was commenting on a report in the London-based Property Week that its entire UK real estate loan portfolio worth ₤350 million was up for sale.
“No real estate from, say, non-performing loans offered by Bank of Cyprus, UK, will go on sale,” the source also said.
Last year, BoC – the island’s biggest – had to absorb the second largest lender Laiki which collapsed.
This was part of the provisions of the debt-ridden island’s bailout agreement with international lenders – the EU, ECB and IMF.