History
The Cyprus Development Bank was established by the Government of the Republic of Cyprus in 1963 with the aim of promoting the economic development of Cyprus by mobilizing and effectively allocating scarce labor and capital. One of the main tasks of the bank was to maintain the viability of various industries, local entrepreneurs, develop tourism facilities and help promote export-oriented enterprises. In the 90s, the bank provided consulting services to various organizations, municipalities, and also carried out a number of government projects. In addition, the bank took an active part in the development of the island's IT technologies, financing IT projects. In 1991, 5.5% of the bank was acquired by the European Investment Bank. By the end of 1996, this share was 12%. In 1992, within the framework of an intergovernmental agreement between the Russian Federation and the Republic of Cyprus, the Investment Bank of Kuban (today - CDB Russia) was established in Krasnodar with a 75% share of the CDB. In 2008, the Bank was privatized, the new shareholders of the bank are large business alliances in Cyprus, demonstrating a stable presence in various areas of business, both locally and internationally. Since 2009, the Bank has launched its new corporate identity as "cdbbank". In 2016, CDB was awarded by Capital Finance International (CFI.co) as the "Best Corporate Bank of Cyprus" for excellence in corporate and commercial banking, taking into account the latest innovative systems and IT technologies, supporting local entrepreneurs and the international business sector, providing comprehensive banking solutions
Bank’s shareholders
Bank shareholders: Loramina Traiding Limited - 45.067% (owners: 2 citizens of the Russian Federation 50/50); Leon Investment S.A. - 9.815% (owners: 2 Swiss citizens 50/50); Path Holdings Limited - 9.815% (owners: 4 Cypriot citizens 23.7 / 23.7 / 30.1 / 22.5); Konstantinos Shiakolas (Cypriot citizen) - 7.852%; Leonidas Ioannou (citizen of Cyprus) - 7.050%; Delphis Ependisis Limited - 7,050% (owners: 3 citizens of Cyprus 33/33/34); Dayarona Trading Limited - 5.007% (owner: citizen of the Russian Federation); Intergaz Limited - 4.907% (owner: UK citizen); CLR Investment Found Public Limited - 2.348% (shares are in public circulation); minority shareholders - 1.088% (each share is less than 1%)
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