Since the Cyprus financial crisis in 2013, the Bank of Cyprus has been taking steps to reduce its stock of NPEs whilst maximizing loan recoveries. In 2021, it initiated a project to deleverage its NPE stock through a bulk sale, which included a portfolio of Non-Performing Loans as well as Real Estate Owned (REO) properties.
To avoid having to sell the portfolio at a substantial discount, the Bank knew that remediating and enriching the real estate data underpinning the loan portfolio first would offer them the best way to maximise potential returns.
Learn how they accelerated this process and maximised their portfolio sale price by partnering with Recognyte.
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