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 4th 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 the deposit guarantee scheme of Cyprus. This deposit guarantee scheme applies to all accounts made by natural persons (domestic and foreign), legal entites (domestic and foreign) and covers up to up to 100,000 EUR per bank per depositor. USB BANK PLC is a member of Deposit Guarantee Fund for Banks and makes its contributions into it.
USB BANK PLC was headquartered in Nicosia.