Cyprus
Development Bank (CDB) is a Cypriot state-owned commercial bank founded in 1963 and headquartered in Nicosia, the capital of Cyprus. Its major shareholders are the Republic of Cyprus and the European Investment Bank, and it is listed in Cyprus. The bank was originally set up by the government to support the productive sectors of the domestic economy, with a focus on manufacturing, industrial processing and tourism. In 2001, it was granted a full banking license by the Central Bank of Cyprus to provide a full range of services such as loans, guarantees and foreign currency deposits.
Scope of
ServicesCDB's business is mainly concentrated in Cyprus, with a focus on medium and long-term loans, equity financing and venture capital investments, especially in the manufacturing sector (50%), tourism (40%) and small economy (10%). There is no clear mention of the global branch or ATM network distribution, which is likely to be dominated by corporate and institutional customers.
Regulation and compliance
is regulated by the Central Bank of Cyprus and follows EU banking regulations. There is no explicit mention of whether or not to join the deposit insurance scheme, but Cyprus, as a member of the European Union, should be subject to the EU deposit insurance regime (up to €100,000 protection). There is no recent record of major compliance issues made public.
Financial healthAs
of 2007, CDB had total assets of 231 million Cyprus pounds (approximately 47 million euros) and revenue of 5.16 million Cyprus pounds in 2005. However, in recent years, the financial data has not been disclosed, and key indicators such as capital adequacy ratio and non-performing loan ratio need to refer to the latest annual report.
Deposit & Loan
ProductsDeposit class: The interest rate is not specified, but foreign exchange deposit services are provided. Loans: Focus on medium and long-term corporate loans, including project financing for manufacturing and tourism, and less information on personal retail loans.
A list of common expenses
Account Management Fee: An account review fee ranging from €100 to €300 is charged semi-annually.
Transfer fee: The specific fee is not disclosed
, and the ATM inter-bank withdrawal fee: the specific fee is not disclosed
The digital service experience
is relatively basic on the official website, and there is no mention of mobile app or online banking user ratings. It may be dominated by traditional corporate services, and digital service information is limited.
Quality of customer service
Service channel: 24/7 phone support and live chat available
Complaint handling: Customers can be contacted via email ( complaints@cdbworld.net) or phone (+357 22 232431).
Multi-language support: Available in Greek and English.
safeguards as
an EU-compliant bank should comply with strict anti-money laundering (AML) and data protection regulations (such as GDPR), However, no specific certifications or technical details are mentioned.
Featured services and differentiation
the Cyprus International School of Management was established to offer an MBA program that combines financial and educational services.
affiliates include IT services (Novasys) and environmental management (Enalion), reflecting diversified investments.
