CDB Bank this week announced the commencement of its partnership with the Bank of New York Mellon as its correspondent bank.

According to an official announcement by the Cyprus Development Bank Public Company (cdbbank), the Bank of New York Mellon, headquartered in New York, “is one of the largest financial institutions in the United States, operating globally”.

“This collaboration, the announcement continued, “represents a significant vote of confidence from a globally recognized organisation towards CDB Bank”.

“It is expected to further enhance the banking and financial services offered by cdbbank to corporate, institutional, and individual clients both in Cyprus and internationally,” the announcement concluded.