Raftis & Raftis

Banking System

The banking system in Cyprus closely follows the British pattern and is well developed and organized whilst being equipped with the latest technology in modern surroundings.

Non-Cypriot citizens have the privilege to open foreign currency and local deposit accounts very easily.

Many Cypriot Banks have branches throughout the world. International Banks also have branches throughout the island for the convenience of their customers, with major credit cards like Visa, Diners, American Express being widely used.

Cyprus Banks offer flexible housing loans in foreign currency to suit a client’s needs.

The banks below have an operating licence to carry out banking activities in Cyprus.

BANKS LISTED ON THE CYPRUS STOCK EXCHANGE

• Bank of Cyprus Public Company Ltd
• Marfin Popular Bank Public Co Ltd
• Hellenic Bank Public Company Limited
• Universal Bank Public Limited

SUBSIDIARIES OF FOREIGN BANKS

• Αlpha Bank Cyprus Ltd
• BNP Paribas Cyprus Ltd/li>
• Emporiki Bank – Cyprus Limited
• Kommunalkredit International Bank Ltd
• National Bank of Greece (Cyprus) Ltd
• Russian Commercial Bank (Cyprus) Ltd/li>
• Societe Generale Cyprus Ltd
• Piraeus Bank (Cyprus) Ltd
• Eurobank EFG Cyprus Ltd

BRANCHES OF BANKS OF EUROPEAN UNION COUNTRIES

• Barclays Bank PLC
• Banque SBA SA
• First Investment Bank Ltd
• Joint Stock Company “Trasta Komercbanka”
• National Bank of Greece S.A.
• Central Cooperative Bank PLC
• DEPFA Bank plc
• Banca Transilvania S.A.

BRANCHES OF BANKS OF COUNTRIES OTHER THAN EUROPEAN UNION

• BankMed s.a.l.
• Arab Jordan Investment Bank SA
• BANQUE BEMO SAL
• Bank of Beirut SAL
• BBAC SAL
• BLOM Bank SAL
• Byblos Bank SAL
• Credit Libanais SAL
• FBME Bank Ltd
• Industrial Commercial AvtoVAZbank
• Joint-Stock Commercial Bank “Promsvyazbank”
• Jordan Kuwait Bank PLC
• Jordan Ahli Bank plc
• Lebanon and Gulf Bank SAL
• Lloyds TSB Offshore Limited
• Privatbank Commercial Bank

Legal System

Based on English common law with civil law modifications.

For more info click here.