Avada Accountant Demo

The Cyprus Banking System

September 1, 2020

The Cyprus banking system

All banks operating in Cyprus are under the supervision and regulation of the Central Bank of Cyprus which is a government organization.
The Cyprus Republic is a member of the Eurozone and the national currency is Euro since 2008.


Credit Institutions operating in Cyprus

A. Cyprus Local Banks (with alphabetical order)

  1. Ancoria Bank Limited
  2. Astrobank Public Company Limited
  3. Bank of Cyprus Public Company Ltd
  4. Cyprus Development Bank Public Company Limited
  5. Housing Finance Corporation
  6. RCB BANK LTD


B. Foreign authorized credit institutions and branches of foreign credit institutions from EU member states operating under the “European passport”

I. Subsidiaries of foreign credit institutions from E.U. Member states operating under the “European passport” (with alphabetical order)

Ia. Subsidiaries of foreign credit institutions

  1. Αlpha Bank Cyprus LTD
  2. Eurobank Cyprus LTD
  3. National Bank of Greece (Cyprus) LTD

Ib. Subsidiaries of foreign credit institutions from non E.U. Member states
1. Societe Generale Bank- Cyprus LTD

II.Branches of foreign credit institutions

IIa. Branches of foreign credit institutions from e.U. Member states

  1. Banque SBA
  2. Central Cooperative Bank PLC
  3. EFG Bank (Luxembourg) S.A.
  4. First Investment Bank LTD
  5. National Bank of Greece S.A.

IIb. BRANCHES OF FOREIGN CREDIT INSTITUTIONS FROM NON E.U. MEMBER STATES

  1. Arab Jordan Investment Bank SA
  2. Bank of Beirut SAL
  3. BankMed SAL
  4. Banque BEMO SAL
  5. BBAC SAL
  6. BLOM Bank SAL
  7. Byblos Bank SAL
  8. Credit Libanais SAL
  9. IBL Bank SAL
  10. Joint Stock Company Commercial Bank “Privatbank”*
  11. Jordan Ahli Bank PLC
  12. Jordan Kuwait Bank PLC
  13. LGB Bank SAL

* Following the amendment of the licence of the branch of Public Joint-Stock Company Commercial Bank “Privatbank” by the Central Bank of Cyprus on 20/12/2016, the said branch is not permitted to engage in any banking business, other than: (i) the repayment or renewal of existing deposits and the acceptance of payments towards existing credit facilities, and (ii) the repayment of administrative expenses relating to the operations of the branch.


C. Representative Offices EFG

  1. Private Bank Limited

NOTE: Information for the credit institutions operating in Cyprus was extracted from the Cyprus Central Bank website at 20/09/21

Get a personal consultation

info@specific-consulting.com