Cyprus Development Bank

Cyprus Development Bank
Κυπριακή Τράπεζα Αναπτύξεως

Type	Public
Industry	Finance
Founded	1963
Headquarters	Nicosia, Cyprus
Area served	Cyprus
Key people	Kyriacos Papadopoulos (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.

References

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.