Founded in 1899, Bank of Cyprus is the leading banking and financial services provider in Cyprus, with significant market shares across all businesses. The bank offers a wide range of financial products and services including retail and commercial banking, factoring, investment banking, brokerage, fund management, private banking, and insurance.
|RD (restricted default)||Caa3 (in default with little prospect for recovery)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Bank of Cyprus Public Company Ltd is rated by Fitch and Moody's.
Credit ratings assigned to Bank of Cyprus Public Company Ltd as of April 2016 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Bank of Cyprus Public Company Ltd it is set to RD (restricted default). The rating is not on watch. Short-term issuer default rating for Bank of Cyprus Public Company Ltd is set to RD (restricted default).
|Long-Term Issuer Default Rating||RD|
|Short-Term Issuer Default Rating||RD|
|Support Rating Floor||NF|
Viability rating for Bank of Cyprus Public Company Ltd is set to f (has failed, and that either has defaulted or would have defaulted had it not received extraordinary support); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).
Long-term rating for Bank of Cyprus Public Company Ltd it is set to Caa3 (in default with little prospect for recovery). Long-term bank deposit rating is Caa3 (in default with little prospect for recovery). Bank financial strength rating is caa3. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Caa3|
|Bank Financial Strength Rating||caa3|
Outlook for the ratings of Bank of Cyprus Public Company Ltd is set to stable (not likely to change).
|Yes (up to 100 000 EUR per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Cyprus are obliged to participate in Cyprian deposit guarantee scheme.
In the case of Bank of Cyprus Public Company Ltd failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||EUR|
Any bank can be identified for different purposes and hence can have several different identifiers.
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of Bank of Cyprus Public Company Ltd and its components are shown in the table below.
|Bank BIC Code||BCYP|
|Country Code||CY (Cyprus)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of Bank of Cyprus Public Company Ltd is shown in the table below.