Bank Of Cyprus To Acquire CDB Assets, Adding €500 Million In Deposits

by THEFUTURE.TEAM

March 23, 2026

Acquisition Highlights And Strategic Rationale

The Bank of Cyprus (BoC) has announced a significant milestone in its growth strategy. The institution has reached an agreement to acquire performing loans, deposits, and selected assets and liabilities from the Cyprus Development Bank (CDB). This move strengthens BoC’s core operations and reinforces its funding base through an infusion of approximately €500 million in deposits.

Portfolio Details And Financial Impact

As part of the deal, BoC will take on a portfolio of performing loans with a gross book value of approximately €150 million. The transaction is expected to be completed at par, reflecting the quality of the assets, with a limited impact on capital of around 35 basis points. It is also expected to contribute modestly to the bank’s earnings.

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Regulatory Approvals And Shareholder Support

Completion of the acquisition remains subject to regulatory approvals, finalisation of documentation, and approval by CDB shareholders. BoC has already secured irrevocable commitments from shareholders representing around 96% of CDB’s share capital, indicating strong backing for the transaction. The deal is expected to close in the second half of 2026, pending these approvals.

Implications For Strategic Growth

The acquisition supports BoC’s approach to targeted growth by expanding both its performing loan portfolio and deposit base. This allows the bank to strengthen its balance sheet while continuing to grow without increasing risk exposure or affecting its dividend policy. The deal also reflects a focus on incremental expansion rather than large-scale acquisitions.

Advisory And Expert Guidance

The transaction is being advised by renowned financial experts, with KPMG Limited serving as the financial advisor and Hadjianastassiou Ioannides LLC acting as legal and competition counsel. This expert guidance further underscores the thorough and measured approach adopted by BoC in executing its strategic initiatives.

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Lithuania And Cyprus Forge Enhanced Partnership In Tourism And Defence

by THEFUTURE.TEAM

May 22, 2026

Expanding Cooperation Beyond The Surface

Kristupas Vaitiekūnas highlighted opportunities for closer cooperation between Lithuania and Cyprus during his visit to Nicosia for the informal ECOFIN meeting. Speaking to the Cyprus News Agency, the Lithuanian finance minister said both countries share common challenges and could expand collaboration in areas including tourism, defence and financial services.

Addressing Shared Challenges

Finance Minister Kristupas Vaitiekūnas said Lithuania and Cyprus face similar security and economic pressures despite their geographic differences. Particular attention was given to emerging security threats, including drone-related risks, alongside the importance of maintaining resilient financial sectors. According to Vaitiekūnas, stronger coordination in those areas could deliver long-term economic and strategic benefits for both countries.

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Focus On Fiscal Stability And Energy Security

Discussions at the ECOFIN meeting are expected to focus on Europe’s economic outlook, energy market volatility and fiscal stability. Kristupas Vaitiekūnas warned that instability in the Middle East could continue affecting oil markets and broader economic performance across Europe. Housing affordability was also identified as a growing challenge, with rising property prices in cities such as Vilnius reflecting broader pressures seen across European markets.

Coordinated Energy Strategy And Future Investments

The Lithuanian finance minister also called for a more coordinated European approach to energy and economic resilience. Vaitiekūnas suggested that targeted and temporary policy measures could prove more effective than large-scale structural reforms in addressing short-term pressures. Lithuania continues to increase investment in renewable energy generation and storage infrastructure as part of efforts to strengthen energy independence and begin producing surplus electricity by 2028.

Support For Ukraine And Enhancing Defence Funding

Finance Minister Kristupas Vaitiekūnas reaffirmed Lithuania’s support for Ukraine, describing the war as a broader struggle tied to European security and democratic values. He also backed accelerating Ukraine’s accession process to the European Union, arguing that deeper integration would strengthen regional stability and economic prosperity. Vaitiekūnas welcomed the EU’s SAFE programme, which is expected to support Lithuania’s defence capabilities while contributing additional assistance to Ukraine.

Looking Ahead To A More Unified Europe

Addressing the European Union’s future budget framework, Kristupas Vaitiekūnas said increased funding for security and defence represented a positive development. At the same time, he warned that reductions in cohesion funding and agricultural support could negatively affect purchasing power and long-term European unity. Lithuania is expected to place continued emphasis on Ukraine and regional security ahead of its upcoming EU Council Presidency in early 2027.

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