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Economy and Banking Sector of Cyprus

Major Banks of Cyprus

Rank
1
Total Assets
20,231.28 mln EUR  (-8.35%)
Rank
2
Total Assets
16,307.55 mln EUR  (+1.12%)
Rank
3
Total Assets
4,705.26 mln EUR  (-22.71%)
Rank
4
Total Assets
2,266.08 mln EUR  (+62.16%)
Rank
5
Total Assets
275.46 mln EUR  (+39.68%)

#1: BANK OF CYPRUS PUBLIC COMPANY LTD

Founded in 1899, Bank of Cyprus is the leading banking and financial services provider in Cyprus, with significant market shares across all businesses. Bank of Cyprus offers a wide range of financial products and services including retail and commercial banking, factoring, investment banking, brokerage, fund management, private banking, and insurance.

Services
retail banking
private banking
corporate banking
commercial banking
investment banking
fund management
Area Served
CYCyprus
internationally
Products
current accounts
debit cards
credit cards
prepaid cards
savings accounts
time deposit accounts
consumer loans
mortgage loans

BANK OF CYPRUS PUBLIC COMPANY LTD is the 1st largest bank in Cyprus in terms of total assets. In 2019 its total assets were 20 231,28 mln EUR. In 2019 the bank's net income was -91,91 mln EUR.

BANK OF CYPRUS PUBLIC COMPANY LTD is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is B- (highly speculative). Long-term credit rating assigned to the bank by Moody's is B1 (highly speculative). BANK OF CYPRUS PUBLIC COMPANY LTD participates in the deposit guarantee scheme of Cyprus. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#2: Hellenic Bank Public Company Ltd

Hellenic Bank started its operations in 1976. Hellenic Bank provides a wide range of products and services in personal and business banking. Alongside traditional banking products, Hellenic Bank also offers a broad range of financial services that include factoring, brokerage services, insurance, portfolio management, investment banking, mutual funds, private banking and custodian services.

Services
retail banking
business banking
international banking
Area Served
CYCyprus
internationally
Products
current accounts
credit cards
savings accounts
time deposit accounts
consumer loans
mortgage loans
business loans

Hellenic Bank Public Company Ltd is the 2nd largest bank in Cyprus in terms of total assets. In 2019 its total assets were 16 307,55 mln EUR. In 2019 the bank's net income was 108,43 mln EUR.

Hellenic Bank Public Company Ltd is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is B (highly speculative). Long-term credit rating assigned to the bank by Moody's is B1 (highly speculative). Hellenic Bank Public Company Ltd participates in the deposit guarantee scheme of Cyprus. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#3: RCB Bank Ltd

Founded in 1995, RCB Bank (formerly Russian Commercial Bank) has been operating in Cyprus for more than 20 years. The bank uses a universal banking model to serve local and international clients. RCB Bank offers corporate, investment and retail products and services.

Services
retail banking
corporate banking
investment banking
brokerage
Clients
local and international clients
Area Served
CYCyprus
internationally
DEGermany
Products
current accounts
savings accounts
investment products
coprorate lending
trade finance

RCB Bank Ltd is the 3rd largest bank in Cyprus in terms of total assets. In 2019 its total assets were 4 705,26 mln EUR. In 2019 the bank's net income was 43,61 mln EUR.

RCB Bank Ltd is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Ba2 (non-investment grade speculative). RCB Bank Ltd participates in the deposit guarantee scheme of Cyprus. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#4: Astrobank Limited

Piraeus Bank (Cyprus) was a member of Piraeus Bank Group (Greece) providing products and services in personal banking, corporate and commercial banking, international banking, and wealth management. In December 2016, Piraeus Bank Cyprus was acquired by a group of international investors led by Lebanese banker Maurice Sehnaoui and renamed to AstroBank. AstroBank provides banking products and services to both local and international clients.

Services
personal banking
corporate and commercial banking
international banking
wealth management
portfolio management
estate and tax planning
Clients
natural persons
business entities
Area Served
CYCyprus
internationally
Products
payment cards
deposits
consumer loans
business loans

Astrobank Limited is the 4th largest bank in Cyprus in terms of total assets. In 2019 its total assets were 2 266,08 mln EUR. In 2019 the bank's net income was 16,75 mln EUR.

Astrobank Limited participates in the deposit guarantee scheme of Cyprus. This scheme covers accounts up to 100,000 EUR per bank per depositor.

#5: Ancoria Bank Limited

Ancoria Bank Ltd is a newly established Cyprus bank offering a range of personal and business banking products and services to its domestic customers.

Services
retail banking
corporate banking
Clients
natural persons
business entities
Area Served
CYCyprus
Products
current accounts
debit cards
credit cards
savings accounts
time deposit accounts
consumer loans
mortgage loans

Ancoria Bank Limited is the 5th largest bank in Cyprus in terms of total assets. In 2019 its total assets were 275,46 mln EUR. In 2019 the bank's net income was -3,14 mln EUR.

Ancoria Bank Limited participates in the deposit guarantee scheme of Cyprus. This scheme covers accounts up to 100,000 EUR per bank per depositor.

See Also