Bank of Cyprus completes acquisition of cdbbank loan and deposit portfolio
Bank of Cyprus has completed its acquisition of the performing loan and deposit portfolio, along with certain other assets and liabilities, of the Cyprus Development Bank (cdbbank), following the agreement reached on 26 March 2026. The affected accounts have now been legally transferred to Bank of Cyprus, which welcomed cdbbank customers and thanked its existing clients for their continued trust. The bank states that the technical integration of the accounts into its systems will be carried out at a later stage, at the end of the Transitional Period, and that until then everyday servicing of customers does not change.
Customers whose accounts came over from cdbbank are now legally clients of Bank of Cyprus, but day-to-day banking stays the same until the Transitional Period ends and the accounts are technically migrated into Bank of Cyprus systems.