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.