Cdb Bank Clarifies Acquisition Speculation Amid Ownership Concerns

by THEFUTURE.TEAM

September 4, 2025

Clarification on Acquisition Rumors

The Cyprus Development Bank has formally addressed recent media speculation regarding a potential acquisition. In an official statement, the bank asserted that there are no new developments to announce at this time. It confirmed that any significant future changes would be promptly communicated through the Cyprus Stock Exchange and the Cyprus Securities and Exchange Commission in accordance with legal protocols.

Union Emphasizes Staff Protection

The bank employees’ union, Etyk, has reiterated its commitment to safeguarding staff interests amidst the uncertainty surrounding ownership changes. In a recent circular, the union stressed that ensuring employee job security is of paramount importance. It warned prospective investors that any transaction must include full staff transitions, asserting that efforts to marginalize or exclude employees would be met with decisive action.

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Ongoing Acquisition Interest

This clarification comes at a time when speculation over Cdb Bank’s future has been mounting. Previous acquisition talks, including advanced negotiations with AstroBank and discussions with an Armenian banking institution, have drawn both domestic and international interest. These developments underscore the ongoing strategic deliberations over the bank’s long-term direction, while regulatory approvals remain a critical factor in any change of ownership.

Regulatory Oversight and Future Prospects

Any transition in ownership will require the endorsement of the Central Bank of Cyprus and, where applicable, the European Central Bank. As market dynamics continue to evolve, stakeholders can expect transparent and timely communications from Cdb Bank regarding its strategic decisions. The bank’s methodical approach reflects a broader commitment to stability and prudence in the face of transformative corporate activities.

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Cyprus President Champions Domestic Defence Industry For National Security And Economic Growth

by THEFUTURE.TEAM

February 18, 2026

Government Commitment To Strengthen National Defence

The President of the Republic, Nikos Christodoulidis, reaffirmed the government’s intention to enhance the country’s deterrence capabilities while expanding the potential of the domestic defense industry. Speaking during a high-level meeting at the Presidential Palace with members of the Cyprus Defence Industry Council, he outlined a strategy that connects national security priorities with long-term economic development.

Performance Assessment And Strategic Objectives

In the presence of Defence Minister Vasilis Palmas, the meeting focused on evaluating the achievements of the council one year following its establishment and delineating the path ahead. The President recalled, “Last year, we decided to institutionalize the Cyprus Defence Industry Council. Today, we review our targets and assess what has been achieved and what remains pending. We discussed the need for a registry of Cypriot companies. It is crucial to amplify the international presence of our enterprises. I remain deeply confident in your capabilities,” emphasizing a performance-driven approach aimed at enhanced operational transparency and market expansion.

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Positioning The Industry As A New Economic Pillar

President Christodoulidis expressed his firm belief that the Cypriot defence industry could emerge as a significant economic driver. He described it as a “promising new pillar” for the nation’s economy, bolstered by European initiatives such as the SAFE framework, supplementary equipment procurement plans from third countries, and participation in international trade exhibitions. Such strategies, he noted, open up further opportunities for local businesses to integrate into the global arms market.

International Outreach And Future Economic Impact

The President also pledged active support at an international level, citing his positive response to an invitation to Athens to engage in initiatives aimed at enhanced exposure and collaboration. He was confident that the industry’s contribution could realistically reach a double-digit share of Cyprus’ GDP in the coming years, a target he described as not only ambitious but entirely attainable given current capabilities.

Clear Vision For Measurable Progress

Concluding the meeting, President Christodoulidis reaffirmed his commitment: “I am fully aware of your potential. This is an emerging sector critical to both our economic future and our national security. Today, I expect us to review our concrete achievements, address the areas requiring improvement, and steer this initiative toward even greater success.” This decisive call for accountability and action underscores a broader strategic agenda that intertwines national defence imperatives with forward-looking industrial and economic policies.

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