Cyprus Development Bank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Cyprus Development Bank
Κυπριακή Τράπεζα Αναπτύξεως
Industry Finance
Founded 1963
Headquarters Nicosia, Cyprus
Area served
Key people
Costas Argyrides (CEO), Kyriacos Christofi (Chairman)
Products consumer banking, corporate banking, investment banking, mortgage loans, private banking, wealth management
Subsidiaries Novasys Information Services
Investment Bank of Kuban
Enalion Environmental Management Centre
Cdb Capital
Website CDB Bank

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.[1]

In June 2007, the Government of Cyprus invited expressions of interest on Friday to dispose of its majority stake.[2] CDB’s assets in 2007 stand at CYP £231 million.[3] In 2008 the bank was fully privatized and no longer belongs to the Cypriot state.


  1. ^ "Milestones in Our History". The Cyprus Development Bank. Retrieved 2007-06-15. 
  2. ^ "Cyprus Dev Bank tenders for 81% stake sale released". Financial Mirror. 2007-06-14. Archived from the original on 2007-09-28. Retrieved 2007-06-15. 
  3. ^ "Cyprus seeks investors for Development Bank". Reuters. The Economic Times Fri, 15 June 2007. 15 June 2007. Retrieved 2007-06-15.