asset management

Kedipes Achieves Strong Financial Performance in Q1 2024

In Q1 2024, Kedipes achieved strong financial results with robust cash inflows of €144 million and repaid €140 million to the state, bringing the total state aid repayment to €1.3 billion. The company plans to repay an additional €60 million by June, showing a 35% increase in cash inflows compared to the same period last year.

Strengthening Oversight to Curb Money Laundering

By Demis Papadopoulos

Cyprus has expanded the authority of its Insolvency Department to combat money laundering, taking on asset management duties to preserve the value of seized assets and ensure effective liquidation. With support from the European TSI 2024 program and the Council of Europe, this initiative enhances international cooperation and aligns Cyprus with global standards in the fight against financial crime.