Veteran banker Chris Pavlou who is an expert in Treasury and risk management took over as Special Administrator of the legacy entity in April 2015 until December 2016.

The legacy entity is pursuing legal action against former major shareholder Marfin Investment Group.

CPB had a network of more than 295 branches in Cyprus, Russia, Ukraine, Romania, Serbia, the UK and Malta.

The bank had applied to open a representative office in Beijing, People's Republic of China.

The Bank made a series of large loans, many to Greek companies prior to and during their financial crisis.