The Cyprus Union of Bank Employees (ETYK) has addressed rumours of a possible takeover of cdbbank in a circular, stressing that it is monitoring developments closely.
“Our organisation is following with great interest the developments surrounding cdbbank and its future, both as an institution and, more importantly, in relation to the staff it currently employs,” ETYK stated.
“As in all similar cases of changes in the ownership structure of a bank, our organisation’s primary concern is to secure the survival of the bank within any new arrangement and, of course, to safeguard the rights and jobs of all its employees,” it added.
ETYK went on to underline: “We wish to remind all concerned that our organisation will not accept the victimisation or exclusion of colleagues.”
For this reason, ETYK noted, any party interested in purchasing cdbbank “must bear in mind that all staff members will transfer to the new owners.”
“Otherwise, our organisation will take strong measures to defend the interests of our colleagues,” the circular concluded.
It is worth recalling that two years ago there were discussions between Astrobank and cdbbank over a potential takeover of the latter by the former, which ultimately did not materialise.
Earlier this year, rumours also circulated that cdbbank was being targeted for acquisition by a fintech company.