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Economy and Banking Sector of Cyprus

Major Banks of Cyprus

Rank
1
Total Assets
22,075.19 mln EUR  (+5.61%)
Rank
2
Total Assets
16,126.19 mln EUR  (+135.53%)
Rank
3
Total Assets
6,087.89 mln EUR  (-33.49%)

#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 2018 its total assets were 22 075,19 mln EUR. In 2018 the bank's net income was -104,40 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 RD (restricted default). Long-term credit rating assigned to the bank by Moody's is Caa1 (substantial risks). 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 2018 its total assets were 16 126,19 mln EUR. In 2018 the bank's net income was 320,05 mln EUR.

Hellenic Bank Public Company Ltd is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is RD (restricted default). Long-term credit rating assigned to the bank by Moody's is Caa1 (substantial risks). 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 2018 its total assets were 6 087,89 mln EUR. In 2018 the bank's net income was 98,73 mln EUR.

RCB Bank Ltd is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is B1 (highly 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.

See Also