Sunday 19 November 2017
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Credit Institutions in Cyprus

The banking sector in Cyprus, comprising local banks, subsidiaries and branches of foreign banks, is regulated, supervised and monitored by the Central Bank of Cyprus (CBC). By law, the Central Bank’s main objectives are to preserve stability in the financial sector, maintain price stability, foster economic growth, minimize systemic risk and protect depositors. In its supervisory role, the Central Bank has always been guided by the recommendations of the Basel Committee on Banking Supervision and it implements the EU’s Directives on banking regulation.

The main functions of the CBC are:

•    The possession and management of reserves in euros in cooperation with the European Central Bank
•    The possession and management of foreign exchange
•    The supervision of banks based on the Capital Requirements Directive
•    The promotion, regulation and oversight of the smooth operation of payment and settlement systems
•    The performance of the tasks of banker and financial agent of the government and participation as a member in international monetary and economic organisations.

Recent credit rating upgrades and positive bank results have marked an end to a period of prolonged uncertainty in Cyprus’ banking sector. Today, the situation is stable and trust in the country’s banks has been further boosted by successful sovereign bond issues and the lifting of all capital controls.

In October 2014, Bank of Cyprus, Hellenic Bank, the Cooperative Central Bank and RCB Bank passed the ECB’s stress tests. The first two had previously been recapitalised by substantial foreign investment.

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  1. Ancoria Bank Ltd
  2. Bank of Cyprus Public Company Ltd
  3. Cyprus Development Bank Public Company Ltd
  4. Hellenic Bank Public Company Ltd
  5. Housing Finance Corporation
  6. RCB Bank Ltd
  7. Cooperative Central Bank Ltd
  8. Allileggyis Cooperative Credit Society Ltd
  9. Cooperative Credit Society Kokkinochorion Ltd
  10. Cooperative Credit Society "Ledra" Ltd
  11. Cooperative Credit Society Strovolou Ltd
  12. Cooperative Savings Society Lemesou Ltd
  13. Cooperative Savings Society Nicosia Ltd
  14. Cyprus Civil Service Cooperative Building Society and Savings Bank Ltd
  15. Cyprus Educational Cooperative Savings Society Ltd
  16. Cyprus Police and Military Cooperative Savings Society Ltd
  17. Famagusta-Larnaca Cooperative Savings Society Ltd
  18. Lakatamia-Dheftera Cooperative Credit Society Ltd
  19. Makrasyka-Larnaka-District of Famagusta Cooperative Credit Society Ltd
  20. Paphos Cooperative Savings Society Ltd
  21. Periferiaki Cooperative Credit Society Lefkosias Ltd
  22. Periferiaki Limassol Cooperative Credit Society Ltd
  23. Tamassos-Orinis and Pitsilias Cooperative Credit Society Ltd
  24. Telecommunications, Energy and Banks Employees Cooperative Savings Society Ltd
  25. Troodos Cooperative Credit Society Ltd
  26. Αlpha Bank Cyprus Ltd
  27. Eurobank Cyprus Ltd
  28. National Bank of Greece (Cyprus) Ltd
  29. Piraeus Bank (Cyprus) Ltd
  30. Societe Generale Bank-Cyprus Limited
  31. USB Bank Plc
  32. Alpha Bank A.E.
  33. AS Expobank
  34. Banque SBA
  35. Barclays Bank PLC
  36. Central Cooperative Bank PLC
  37. EFG Bank (Luxembourg) S.A.
  38. First Investment Bank Ltd
  39. Joint Stock Company “Trasta Komercbanka”
  40. National Bank of Greece S.A.
  41. Saxo Bank A/S
  42. Arab Jordan Investment Bank SA
  43. Bank of Beirut SAL
  44. Bank Meds.a.l.
  45. Banque BEMO SAL
  46. BBAC SAL
  47. BLOM Bank SAL
  48. Byblos Bank SAL
  49. Credit Libanais SAL
  50. FBME Bank Ltd
  51. IBL Bank SAL
  52. Jordan Ahli Bank PLC
  53. Jordan Kuwait Bank PLC
  54. Lebanon and Gulf Bank SAL
  55. Open joint-stock company AVTOVAZBANK
  56. Promsvyazbank PJSC
  57. Public Joint-Stock Company Commercial Bank "Privatbank"
  58. Atlasmont Banka A.D
  59. Bank Zenit (Open Joint Stock Company)

 

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