Potential investors in the Cooperative Central Bank of Cyprus have three months in front of them to closely review loan portfolios and mortgage-backed securities in order to make evaluations.
The government hopes to have in its hands the binding proposals of those interested by the end of April so that the procedure through which the investor who will take control of the bank and its assets can move forward.
Even though the relevant consultations are at an advanced stage no one can predetermine their outcome with any certainty. The investors who have been chosen by Citibank, the CBC financial advisor, have already started to collect the bank’s data, including some classified as confidential, through due diligence, so they can have the complete picture before the submission of the binding proposals. The quality of the proposals, price and terms submitted by the aspiring investors will determine who the final buyer will be.