The Cyprus Development Bank was established by the Government of the Republic of Cyprus in 1963. 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 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"
The bank has about 200 employees. There are English-speaking
Bank shareholders: Loramina Traiding Limited - 45,067%; Leon Investment S.A. - 9,815%; Path Holdings Limited - 9,815%; Konstantinos Shiakolas - 7,852%; Leonidas Ioannou - 7,050%; Delphis Ependisis Limited - 7,050%; Dayarona Trading Limited - 5,007%; Intergaz Limited - 4,907%; CLR Investment Found Public Limited - 2,348%; minority shareholders - 1,088%
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed