Bank of Cyprus to acquire performing loan and deposit portfolio from cdbbank

Bank of Cyprus has signed an agreement to acquire a portfolio of performing loans and deposits from the Cyprus Development Bank (cdbbank). The deal includes approximately €150 million in performing loans and €500 million in customer deposits as of December 31, 2025. The assets and liabilities are being transferred at a price close to their nominal value. According to cdbbank, the estimated discount on the transferred assets is approximately €3 million, with any equalization differences to be settled in cash. Bank of Cyprus expects the transaction to have a moderately positive impact on its financial results and a limited capital impact of around 35 basis points. The transaction is expected to conclude in the second half of 2026, subject to regulatory approvals and other customary conditions. This acquisition aligns with the Bank of Cyprus's strategy to expand its loan and deposit portfolios in the medium term. Shareholders of cdbbank have already approved the transaction.