Cyprus Banks – Cyprus Banking: What is Banking in Cyprus like? Are the Cyprus Banks, qualified enough to safeguard my interests? Can I trust the Cyprus Banks? Is Cyprus Banking as good and as efficient as banking in Europe or the USA? How fast is Cyprus Banking? Can Cyprus Banking offer me internet banking, digipass machine, multi currency accounts, low fees, swift transfer? These questions are frequently asked by our international clients. Cyprus Banks are efficient, professional, fast and offer all the banking facilities and features you may need in your business endeavors. The movement of funds to and from Cyprus Banks, is completely free, and no taxes whatsoever are levied on any money entering or leaving the Cyprus Banking system. Cyprus Banking has nothing to be jealous of any other banking system in the world. For info on how to open a Cyprus Bank Account follow the link.
Cyprus banks – Cyprus banking : Opening and operating a bank account in Cyprus is simple, fast and fuss free. So Banking in Cyprus is nowadays, a pleasure. Cyprus Banks are rich with experience and expertise. A Cyprus bank account offers all the professional services needed for your business. We have been offering Cyprus Banking services to thousands of international enterpreneurs since 1979! The banking system in Cyprus is one of the most advanced and professional banking systems in the world. Cyprus banks are stable, efficient, very professional and fast! They are connected to all the big financial institutions of Europe, Asia, the U.S.A and the rest of the world. They offer the most advanced services and all the banking products that you may have in the most financially developed countries like the US, JAPAN, and the UK. Cyprus has a very well developed and open economy. That reflects in the Cyprus banking system and in the products offered to you by the Cyprus banks. The movement of money in and out of the country is now fully liberated and free. You can take all your money is that in the millions, out of Cyprus with the push of a button and no one will ask you why. Try that in some other jurisdictions including some of the biggest economies in the EU! Cyprus banking is regulated, controlled and overseen by the Central Bank of Cyprus, which is one of the best organized, central banks. For more information on this topic see Central Bank of Cyprus, in our website. Cyprus banks – Cyprus banking will offer you the following products and services:
- Personal account of any kind.
- Corporate account of any kind.
- Credit card for any limit you require.
- Debit card again for any limit you require.
- E-Banking, so that you can check and control your account from the comfort of your desk, fast and efficiently, without waiting, without any fuss or pressure.
- Digipass /Token, for you to be able to transfer any sums of money from your account to that of any other person or company, without the intervention of the Bank, thus saving time, and snatching that deal that otherwise might be lost!
- Any currency you might want, so that you can have it in Euro or USD or Yen, or Swiss Franc, or any of them or all of them, at no extra charge.
Cyprus banks – Cyprus banking and Interest Rates
Cyprus is a member of the EU and also of the Euro zone. Therefore the micro and macroeconomics of the big European economies like Germany, France, and Italy etc…Can influence the Cyprus economy and of course all the banking and finance. The global economic crisis has influenced Cyprus too, but fortunately not as dramatically as some other countries.
Before the crisis access to money was much easier, and with lower interest rates. Now-days, securing a loan is possible if you have the necessary guarantees such as land to mortgage. The rates for loans vary greatly depending on the nature of the investment or project.
For building projects with real potential the lending rate varies according to the size and repayment terms to between 4% and 6%.
For trading purposes the rate could climb up to 9%.
Generally speaking the lending rates currently vary between 4% to 9%.
For deposit interest, you may get something between 2.5% and 4.25%, depending on the time of the deposit and other terms and of course on the size of it.
Cyprus banks – Cyprus banking: These Are some of the Most Important Cyprus Banks
Bank of Cyprus
Bank of Cyprus Public Company Ltd (“the Bank”) was founded in 1899 and is the holding company of the Bank of Cyprus Group (“the Group”). The Group offers a wide range of financial products and services, which include banking services, leasing, factoring, brokerage, fund management, investment banking, and general and life insurance services.
The Bank of Cyprus operates around 130 branches and employs about 2500 staff. The Bank is a leading financial services organization in Cyprus, with a dynamic presence in Cyprus and operations in the United Kingdom.
Alpha Bank Cyprus
Alpha Bank founded in 1879 and is one of the largest banks in Greece. With a network of more than 1,000 Branches, the Alpha Bank Group is active in the international banking market with a presence in Cyprus, Romania, Bulgaria, Serbia, Ukraine, Albania, Macedonia and Great Britain.
Eurobank EFG, is a European organization with total assets of € 86,5 billion, employs over 22,500 people and offers products and services, both through a network of over 1,600 branches and outlets, and through alternative distribution channels. The Eurobank EFG Group has significant presence in 10 countries: Greece, Bulgaria, Serbia, Romania, Turkey, Poland, Ukraine, United Kingdom, Luxembourg and Cyprus. He is a member of the group EFG Group, an international banking group with presence in 40 countries.
Our strategy as a European Agency emerges from our historical journey, our strong financial position and the continued expansion of our innovative products, quality service and accountability to the wider geographical region of Central and Southeastern Europe.
National Bank Of Greece
Cyprus banks – Cyprus banking: National Bank of Greece, the oldest and largest among Greek banks, heads the strongest financial group in the country. It boasts a dynamic profile internationally, particularly in Southeastern Europe and the Eastern Mediterranean. Founded in 1841 as a commercial bank, NBG enjoyed the right to issue banknotes until the establishment of the Bank of Greece in 1928. It has been listed on the Athens Stock Exchange since the latter’s foundation in 1880. NBG is a financial institution legally operating subject to the Greek and the EU banking legislation, specifically the provisions, as currently applicable, of Law 2076/92 whereby the second banking directive 89/646/EEC was incorporated into Greek law. The NBG Group provides a full range of financial products and services that meet the constantly changing needs of corporate customers and private individuals, including investment banking services, brokerage, insurance, asset management, leasing and factoring. The Bank’s branch and ATM network, the largest in Greece (574 domestic banking units and 1,511 ΑΤΜs), effectively covers the entire country. It is developing and expanding alternative distribution channels for its products, such as Mobile and Internet banking. Today, after recent acquisitions in SE Europe the Group’s network overseas includes 1,178 units (data as at 30.09.2010).
Cyprus Emporiki Bank
Cyprus banks – Cyprus banking: Emporiki Bank was established in 1907, has been listed on the ATHEX since 1909 and today is one of the largest commercial Greek banks. In June 2000, Emporiki Bank entered into a strategic alliance agreement with the Credit Agricole international banking group, which acquired initially 6.7% of the Emporiki’s share capital. Credit Agricole today holds around 91,00% of the Bank’s share capital.
Emporiki Bank is active in the domestic and foreign capital and money markets, offering a comprehensive range of traditional and modern banking services and products that meet the savings, financing and investment needs of its customers. Emporiki Bank operates 340 branches in Greece and is developing its activities in Cyprus, Romania, Bulgaria and Albania through subsidiary banks (April 2009: 99 subsidiaries´ branches in total) and in London and Frankfurt through branches.
The Group of Emporiki is one of the most dynamic Groups in the financial sector, and offers an extensive range of products and services, such as investment banking and leasing, factoring, insurance, bank assurance, asset management for institutional investors, mutual fund management, securities portfolio management, real estate development and management, and consumer credit. The Group employs a total of around 7,600 persons. Through its new shareholder, who is one of the largest financial institutions on the global scale, Emporiki has now access to significant know-how and to an international network covering approximately 70 countries.
Societe Generale Cyprus
Cyprus banks – Cyprus banking: The Corporate & Investment Bank is at the heart of Société General’s universal banking business model, a financial institution relying on solid fundamentals to accompany its clients in their development and support the economy across sectors and industries. Société Générale Corporate & Investment Bank is a leading player with 11,000 professionals in over 33 countries across Europe, the Americas and Asia-Pacific. SG CIB tailors solutions for issuers and investors by capitalizing on its worldwide expertise in investment banking, global finance, and global presence.
BNP Paribas Bank
Cyprus banks – Cyprus banking: BNP Paribas is a European leader in global banking and financial services and one of the six strongest banks in the world (Rated AA by Standard & Poor’s i.e. 3rd rating on a scale of 22). Present across Europe through all its business lines, the Group has four domestic retail banking markets in France, Italy, Belgium and Luxembourg. It has one of the largest international networks with operations in 84 countries and 202,500 employees, including 159,600 in Europe, 15,000 in North America and 11,100 in Asia. (30/09/2010) BNP Paribas has key positions in its three core businesses:
- Retail Banking
- Corporate & Investment Banking
- Investment Solutions