Established in 1963 as a public entity to help further economic progress, the Cyprus Development Bank (cdbbank) – privatised in 2008 – has become a major driver of private enterprise in its domestic market and abroad. Fully geared towards servicing the diverse needs of corporations with up-to-date and innovative products, the bank also helps private and institutional investors manage their portfolios.
Since its privatisation, cdbbank has carved out a significant niche by focusing on the local business community, catering to the needs of corporate and institutional clients. Widely recognised for its operational excellence and client-centric approach, cdbbank aims to respond flexibly and efficiently to customer requirements, leveraging its deep reservoir of in-house expertise as one of the country’s most venerable financial institutions.
In 1999, cdbbank established the Investment Bank of Kuban (IBK) in Russia’s Krasnodar Region on the northeast shore of the Black Sea. The bank was set up jointly with the European Bank for Reconstruction and Development. cdbbank also helped with the transformation of the Palestinian Development Fund into a bank.
cdbbank continues its dynamic growth by investing in and expanding its business operations and services. The bank has recently developed further in the International Banking sector and has invested in human resources, new premises as well as cutting-edge digital systems to continue providing high quality client service. In addition, cdbbank has also expanded its scope to include services to sectors earmarked by the government for accelerated development such as alternative energy and technology. The CFI.co judging panel commends cdbbank on its dedication to excellence in corporate and commercial banking, staying on top of technological developments, and applying its expertise to offer clients comprehensive, specialised services suited to their specific needs. The judges are pleased to offer Cyprus Development Bank the 2016 Best Corporate Bank Cyprus Award.
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