Dialogos

Agreement for the Sale of Performing Loans and Deposits Portfolio of cdbbank to Bank of Cyprus

Published March 23, 2026, 14:04
Agreement for the Sale of Performing Loans and Deposits Portfolio of cdbbank to Bank of Cyprus

cdbbank announced an agreement with Bank of Cyprus for the sale of a portfolio of performing loans and deposits. The agreement concerns loans of approximately €150 million and deposits of approximately €500 million, with transfer at par, indicating the high quality of the portfolio. cdbbank had considered alternative options for the past three years, and the choice of Bank of Cyprus is considered confirmation of the quality of its assets, while ensuring continuity and customer service. The agreement is subject to the approval of CDB shareholders and the fulfillment of certain conditions. The completion of the transaction is expected in the second half of 2026, while cdbbank's operations continue as normal. The sale is part of cdbbank's strategy for optimal utilization of its assets and transition to a stronger banking structure. Bank of Cyprus will continue to inform the public in accordance with the legal framework.