The Cyprus Development Bank (CDB),'' (Κυπριακή Τράπεζα Αναπτύξεως)'', is a

development bank A development financial institution (DFI), also known as a development bank or development finance company (DFC), is a financial institution that provides risk capital for economic development projects on a non-commercial basis. , total commitme ...

that was established in 1963 as a public company to promote economic development in Cyprus. Its main shareholders were the

Republic of Cyprus Cyprus ; tr, Kıbrıs (), officially the Republic of Cyprus,, , lit: Republic of Cyprus is an island country located south of the Anatolian Peninsula in the eastern Mediterranean Sea. Its continental position is disputed; while it is geo ...

and the

European Investment Bank The European Investment Bank (EIB) is the European Union's investment bank and is owned by the EU Member States. It is one of the largest supranational lenders in the world. The EIB finances and invests both through equity and debt solutions ...

. It was privatized in 2008.

History

The Cyprus Development Bank was established in 1963 as a public company with shareholders as the

and the

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

References

External links

Bank Profile: The Cyprus Development Bank Public Company Ltd
Banks established in 1963 1963 establishments in Cyprus Companies based in Nicosia Banks of Cyprus Companies listed on the Cyprus Stock Exchange {{Cyprus-stub