KEDIPES, a state owned Asset Management Company, 100% subsidiary of SEDIPES, was established in August 2018 as one of the major initiatives taken by the Government to address the issue of Non-Performing Loans (NPLs) of the ex-Cyprus Cooperative Bank (CCB). The Company has been tasked to maximize the financial return for the State for the aid given to ex-CCB. It is licensed to operate as a Credit Acquiring Company and is responsible for approximately €8 billion of non-performing loans and real estate assets. KEDIPES mission is to manage the assets within its perimeter by divesting, liquidating or winding down in an orderly manner with the objective to maximize their value. Its vision is to contribute towards the stabilization of the financial sector and the Cyprus economy in general in a way that it has a favorable impact on society as a whole. Altamira Cyprus Asset Management Company is KEDIPES’s Servicer and both organizations are working along-side by promoting appropriate solutions for each category of NPL’s including, where feasible, long term restructuring solutions and the divestment of the real estate owned.