The Commission for the Protection of Competition received a notification of a proposed concentration by Hellenic Bank Public Company Ltd, concerning the acquisition of sole control of APS Debt Servicing Cyprus Ltd.
Hellenic Bank Public Company Ltd is duly registered under the laws of the Republic of Cyprus. Hellenic Bank Public Company Ltd is a credit institution operating under the supervision of the Central Bank of Cyprus and the European Central Bank.
Hellenic Bank Group consists of Hellenic Bank Public Company Ltd and its subsidiaries, and among others, is active in in the provision of banking services, of personal and corporate insurance contracts and management of properties acquired through debt to asset swaps.
APS Debt Servicing Cyprus Ltd is a company duly registered under the laws of the Republic of Cyprus and is active in the management of real estate acquired by credit institutions through enforcement or payment procedures due to credit rights arising from mortgages and in the management and recovery of non-performing loans granted by credit institutions or other persons with arrears and related liabilities.