cdbbank announces that it has reached an agreement with the Bank of Cyprus on the financial and legal terms for the sale of a specific portfolio of performing loans, deposits and certain other cdbbank’s assets and liabilities.
The agreement is the result of a responsible and methodical process aimed at the optimal utilisation of cdbbank’s assets and the transition of its relevant operations to a stronger and more widely capitalised banking institution.
Over the past three years, cdbbank has attracted interest from several banking and investment groups, as part of its strategy to evaluate alternative options.
The proposed transaction includes the sale of performing loans of approximately €150m, and deposits of approximately €500m. The transfer is expected to take place at par, reflecting both the quality and the long-standing resilience of the Bank’s loan portfolio.
The decision of the Bank of Cyprus, the country’s largest and systemically strongest banking institution, to enter into this transaction constitutes a strong endorsement of the quality of cdbbank’s assets, while ensuring continuity, stability, and seamless service for customers transferring to the new institution.
The remainder of cdbbank’s assets and liabilities will continue to be serviced as usual, without any changes.
Completion of the transaction remains subject to approval by cdbbank’s shareholders, the execution of the relevant transaction documents and the fulfilment of certain conditions, including the receipt of the necessary regulatory approvals. The transaction is expected to be completed during the second half of 2026. Until then, cdbbank’s operations will continue as normal.
The Bank will continue to keep the investment community and competent authorities informed through announcements to the Cyprus Stock Exchange and the Cyprus Securities and Exchange Commission, in accordance with the applicable legal and regulatory framework.
