USB Bank traces its roots to Yialousa Savings Bank (YSB) which was established in Yialousa in 1925. In 1996 Universal Life acquired 30% of YSB changing its name to Universal Savings Bank Ltd, this name was re-branded into USB Bank Plc in February 2009. In September 2010 BLC Bank SAL (Lebanon) acquired 9,9% of the share capital of USB Bank Plc while in June of 2011 increased this figure to 94,14% after the completion of the public offer for the acquisition of up to 100% of the bank’s shares.
USB Bank provides personal and corporate banking products and services to local and international clients.
Due to agreement of July 31, 2018 Astrobank Ltd acquired the banking business of USB Bank. Since January 18, 2019 USB Bank ceased its banking activities.
USB BANK PLC was the 3rd largest bank in Cyprus in terms of total assets. In 2017 its total assets were 754,67 mln EUR. In 2017 the bank's net income was -13,32 mln EUR.
USB BANK PLC participates in deposit guarantee scheme of Cyprus. This scheme covers accounts up to 100 000 EUR per bank per depositor.
USB BANK PLC was headquartered in Nicosia.
|local and international clients|
|personal and corporate banking|
USB BANK PLC provides services in the area of personal and corporate banking. USB BANK PLC makes its solutions available to local and international clients.
|Total Assets (2017)|
|754.67 mln EUR (+9.89%)|
In 2017 total assets of USB BANK PLC were 754.67 mln EUR. Growth compared to the previous period (2016) was 9.89%. The evolution of the total assets of USB BANK PLC is shown at Chart 1 below.
Chart 1. Total Assets of USB BANK PLC.
|Net Income (2017)|
|-13 321 494.00 EUR (+479.21%)|
In 2017 net income of USB BANK PLC was -13 321 494.00 EUR. Growth compared to the previous period (2016) was 479.21%. The evolution of the net income of USB BANK PLC is shown at Chart 2 below.
Chart 2. Net Income of USB BANK PLC.
|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 USB BANK PLC 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|
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 USB BANK PLC and its components are shown in the table below.
|Bank BIC Code||UNVK|
|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 USB BANK PLC is shown in the table below.
Company Registration Number is a distinctive code issued upon registration of a new company. This code can be used to find data about the company in a national company register.
|Company Number||ΗΕ 10|