Bank of Cyprus to acquire loans and deposits of Cyprus Development Bank

Bank of Cyprus plans to take over from the Cyprus Development Bank a portfolio of performing loans with a gross book value of about €150m and deposits of about €500m, at a price close to par and with a capital impact of around 35 basis points. Shareholders holding about 96% of the Development Bank's capital have irrevocably committed their support; completion is expected in the second half of 2026 and still needs regulatory approvals (Cyprus Mail, 23 Mar 2026). Update (21 Oct 2026): The acquisition has been completed; after all regulatory approvals, loans of about €130m and deposits of about €440m passed at a price close to par, with a capital impact of about 30 basis points (Cyprus Mail, 21 Oct 2026).