Type Public Area served Cyprus Headquarters Nicosia, Cyprus | Industry Finance Website CDB Bank Founded 1963 | |
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Key people Kyriacos Papadopoulos (CEO), Kyriacos Christofi (Chairman) Products consumer banking, corporate banking, investment banking, mortgage loans, private banking, wealth management Subsidiaries The Cyprus Development Bank, Asset Management Arm | ||
The Cyprus Development Bank (CDB), (Κυπριακή Τράπεζα Αναπτύξεως), was established in 1963 as a public company to promote economic development in Cyprus. Its main shareholders were the Republic of Cyprus and the European Investment Bank. It has been privatized in 2008.
In June 2007, the Government of Cyprus invited expressions of interest on Friday to dispose of its majority stake. CDB’s assets in 2007 stand at CYP £231 million. In 2008 the bank was fully privatized and no longer belongs to the Cypriot state.
References
Cyprus Development Bank Wikipedia(Text) CC BY-SA