Bank of Cyprus announced the acquisition of a performing loan portfolio worth €130 million and deposits of almost €440 million.
According to the announcement, the transaction is expected to have a positive impact on the bank’s balance sheet and a limited impact on its capital of almost 30 basis points.
The bank’s announcement reads as follows:
“Following the relevant announcements dated 23 and 26 March 2026, Bank of Cyprus Holdings Public Limited Company (together with its subsidiaries, the “Group”) announces the successful completion of the acquisition of a portfolio of performing loans, deposits and certain other assets and liabilities from Cyprus Development Bank Public Company Limited (“CDB”) (the “Transaction”), through its subsidiary, Bank of Cyprus Public Company Ltd (the “Bank”), following the fulfilment of certain conditions and receipt of all required regulatory and other approvals.
The consideration for the Transaction is at a price close to the nominal value, and its scope includes a portfolio of performing loans worth approximately €130 million and deposits of approximately €440 million.
The Transaction is expected to have a moderately positive impact on the Group’s income statement, with a limited impact on capital of approximately 30 bps.
The Transaction was executed on customary business terms. It is aligned with the Group’s strategic objective of growing its performing loan and deposit portfolios over the medium term, as well as strengthening its customer base. It also reaffirms the Group’s strategic priority of seeking organic and inorganic growth opportunities in order to continue delivering attractive and prudent returns and creating value for its shareholders.
This Transaction does not concern or affect the interests of the Company Secretary or any “designated person” as defined in Article 137(3) of the Cyprus Securities and Stock Exchange Law 14(I)/1993 (as amended).
KPMG Limited acted as financial adviser to the Transaction. Hadjianastassiou Ioannides LLC acted as legal and competition advisers to the Group for the Transaction.
For further information, contact Investor Relations at [email protected]”.