NewsLocalBanking landscape still dominated by Bank of Cyprus, Hellenic Bank

Banking landscape still dominated by Bank of Cyprus, Hellenic Bank

The two key players in the Cyprus banking landscape are Bank of Cyprus and Hellenic Bank, Philenews reports citing latest financial results released by the island’s lenders. Third-placed in terms of market share is RCB Bank.

All are under the direct supervision of the ECB, with the rest of the market made up of smaller banks and foreign subsidiaries such as AstroBank, Eurobank and Alpha Bank.

The island’s largest lender – Bank of Cyprus – has €16.5 billion in its portfolio and a market share of 34.29%.

Hellenic Bank follows with € 14.2 billion in deposits and a market share of 29.41%.

RCB’s share in deposits amounts to 5.71%, Astrobank’s to 4.37%, Alpha Bank’s to 4.36% and that of Eurobank Cyprus to 11.75%.

As for loans, Bank of Cyprus and Hellenic Bank control 55.72% of the market with the management of both lenders making efforts to leverage their balance sheets.

At the same time, RCB Bank holds a significant 11% of loan share.

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