A significant move in the Cypriot banking sector: cdbbank has announced it reached an agreement with the Bank of Cyprus for the sale of a performing loan portfolio worth approximately €150 million, deposits of €500 million, and certain other assets and liabilities.
The deal, the result of methodical and responsible management, aims to optimise the use of cdbbank’s assets and transfer operations to a larger, better-capitalised banking institution.
Notably, the transfer will be carried out essentially at par, confirming the quality of cdbbank’s loan portfolio. Over the past three years, the bank attracted interest from multiple banking and investment groups.
The choice of Bank of Cyprus — the island’s largest and most systemically important bank — serves as a strong vote of confidence in the quality of the transferred assets, while also ensuring uninterrupted client service.
Completion of the transaction is subject to shareholder approval, signing of documentation and regulatory clearances, with an expected timeline in the second half of 2026. Until then, cdbbank continues normal operations.
