It was set up as a public company to foster economic advancement in Cyprus.

The primary stakeholders initially included the Republic of Cyprus and the European Investment Bank.

[1] Established in 1963, the Cyprus Development Bank's early shareholders comprised the Republic of Cyprus and the European Investment Bank.

In June 2007, the Cyprus government began seeking interest for its majority stake in the bank.

This partnership aims to enhance cdbbank's services to clients in Cyprus and internationally.