Banks of Cyprus
Cyprus financial institutions are regulated by the state Central Bank. There are several types of bank organizations accredited by the regulator.
Banks with Cypriot capital
Ancoria Bank
A bank specializing in providing individual banking solutions to individuals, businesses, and organizations. Despite its relatively small size compared to some other banks, Ancoria Bank prides itself on its efficiency, customer-centric approach, and innovative financial products. The bank offers a wide range of services, including retail banking, corporate banking, wealth management, and investment advisory.
Astrobank
A dynamic and customer-oriented bank. Using a modern approach to banking, Astrobank offers a wide range of financial services to meet diverse customer needs. The bank is known for its commitment to technology, investing in digital platforms and mobile banking apps to enhance accessibility and convenience for its customers.
Bank of Cyprus
The largest and oldest banking institution in Cyprus with a rich history spanning several decades. It offers a full range of banking services, including retail banking, corporate banking, wealth management, and investment banking services. It has an extensive network of branches and ATMs across Cyprus and plays a key role in the country's economy.
Cyprus Development Bank
CDB is a specialized financial institution aimed at supporting the development and growth of the Cypriot economy. Created to promote investments, entrepreneurship, and innovation, CDB provides a range of financial services to individuals, businesses, and governmental organizations. It offers financial solutions for various sectors, including tourism, real estate, agriculture, as well as small and medium enterprises.
Hellenic Bank
One of the leading banking institutions in Cyprus, offering a wide range of financial products and services to individuals, businesses, and organizations. The bank pays special attention to convenience and accessibility, with a network of branches and ATMs across the island, as well as modern digital banking platforms.
Housing Finance Corporation
The Housing Finance Corporation is a specialized financial institution designed to help address affordable housing issues for individuals and families nationwide. HFC provides a range of financial products and services to support homebuyers and developers, including mortgage loans, housing construction financing, and housing-related insurance products.
Bank Subsidiaries
These are fully-fledged banking organizations established to operate in Cyprus, not just branches of another bank. The difference with Cypriot ones is that the capital in these financial institutions is foreign.
- Αlpha Bank Cyprus
- Eurobank Cyprus
- National Bank of Greece (Cyprus)
- Societe Generale Bank-Cyprus
Branches of Foreign Banks
Among branches, representatives of Lebanese and Jordanian financial organizations are most common. As of May 2024, the following banks are accredited by the Central Bank of Cyprus.
- Banque SBA
- Central Cooperative Bank
- First Investment Bank
- National Bank of Greece
- Arab Jordan Investment Bank
- Jordan Ahli Bank
- Jordan Kuwait Bank
Frequently Asked Questions about the Cyprus Banking System
Can foreigners open bank accounts in Cyprus?
Yes, foreigners can open bank accounts in Cyprus. Many banks offer accounts designed for non-residents. However, often proof of legal long-term residence on the island, such as a residence permit, is required.
Are deposits in Cypriot banks safe?
Deposits in Cypriot banks are protected by the Deposit Protection Scheme, which covers risks up to a certain limit per depositor in one bank.
Are online banking services available in Cyprus?
Yes, most banks in Cyprus offer online banking services, allowing customers to manage their accounts, transfer funds, pay bills, and access other banking services remotely.
Follow us on our Instagram and Telegram — where we share a lot of useful and interesting information about life in Cyprus!
Author
Born and raised in Yekaterinburg, visited more than 40 countries, lived in the USA for some time, and in 2022, moved to Northern Cyprus. Education: Ural State University (now Ural Federal University), Faculty of Political Science and Sociology. Professional Experience: Since 2008, worked in the…
