cdbbank announces that it has reached an agreement with Bank of Cyprus on the financial and legal terms for the sale of a specific portfolio of €150 million performing loans, €500 million deposits, and certain other assets and liabilities of CDB.
The agreement is aimed at the optimal utilisation of cdbbank’s assets and the transition of the related operations to a stronger and more broadly capitalised banking institution.
Over the past three years, cdbbank has attracted interest from more than one banking and investment group as part of its strategy to evaluate alternative options.
The proposed transaction includes the sale of performing loans of approximately €150 million and deposits of approximately €500 million. The transfer is expected to take place at par, reflecting the quality and long-term resilience of the Bank’s loan portfolio.
The selection of Bank of Cyprus, the country’s largest and most systemically significant banking institution, constitutes a strong endorsement of the quality of cdbbank’s assets, while also ensuring continuity, stability, and the uninterrupted servicing of customers who will be transferred to the new institution.
The remaining assets and liabilities of cdbbank will continue to be serviced as normal, without any changes.
The completion of the transaction is subject to approval by CDB’s shareholders, the signing of transaction documents, and the fulfilment of certain conditions (including obtaining the required regulatory approvals). The transaction is expected to be completed in the second half of 2026, and during this period cdbbank’s operations will continue as normal.
The Bank will continue to inform the investment community and the competent authorities through announcements to the Cyprus Stock Exchange and the Cyprus Securities and Exchange Commission, in accordance with the applicable legal and regulatory framework.
