Cyprus banking
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Information
Economy—overview: The Greek Cypriot economy is small and prosperous but highly susceptible to external shocks. Industry contributes 22% to GDP and employs 25% of the labor force while the service sector contributes 89% to GDP and employs 62% of the labor force. Erratic growth rates in the 1990s reflect the economy's vulnerability to swings in tourist arrivals caused by political instability on the island and fluctuations in economic conditions in Western Europe. The Turkish Cypriot economy has about one-third the per capita GDP of the south. Because it is recognized only by Turkey it has had much difficulty arranging foreign financing and foreign firms have hesitated to invest there. The economy remains heavily dependent on agriculture and government service which together employ about half of the work force. Moreover the small vulnerable economy has suffered because the Turkish lira is legal tender. To compensate for the economy's weakness Turkey provides direct and indirect aid to nearly every sector. In January 1997 Turkey signed a $250 million economic cooperation accord with the Turkish Cypriot area to support tourism education and industry.
GDP: purchasing power parity—$11.19 billion (Greek Cypriot area: purchasing power parity—$9.75 billion; Turkish Cypriot area: purchasing power parity - $1.44 billion) (1997 est.)
GDP—real growth rate: 2.4% (Greek Cypriot area: 2.5%; Turkish Cypriot area: 1.7%) (1997 est.)
GDP—per capita: purchasing power parity—$13 500 (Greek Cypriot area: purchasing power parity—$15 000; Turkish Cypriot area: purchasing power parity—$8 000) (1997 est.)
GDP—composition by sector: Greek Cypriot area: agriculture 4.4%; industry 22.4%; services 73.2% (1996); Turkish Cypriot area: agriculture 10%; industry 24.6%; services 65.4% (1995)
Inflation rate—consumer price index: Greek Cypriot area: 3.5% (1997 est.); Turkish Cypriot area: 87.5% (1997 est.)
Labor force:
total: Greek Cypriot area: 299 700
by occupation: services 62% industry 25% agriculture 13% (1995)
total: Turkish Cypriot area: 76 500 (1996)
by occupation: services 66% industry 11% agriculture 23% (1995)
Unemployment rate: Greek Cypriot area: 3.3% (1997 est.); Turkish Cypriot area: 6.4% (1996)
Budget:
revenues: Greek Cypriot area—$2.9 billion Turkish Cypriot area—$171 million
expenditures: Greek Cypriot area—$3.4 billion including capital expenditures of $345 million Turkish Cypriot area—$306 million including capital expenditures of $36.8 million (1997 est.)
Industries: food beverages textiles chemicals metal products tourism wood products
Industrial production growth rate: Greek Cypriot area: -4% (1996); Turkish Cypriot area: 5.1% (1995)
Electricity—capacity: 666 000 kW (1995)
Electricity—production: 2.6 billion kWh (1995)
Electricity—consumption per capita: 3 530 kWh (1995)
Agriculture—products: potatoes citrus vegetables barley grapes olives vegetables
Exports:
total value: Greek Cypriot area: $1.3 billion (f.o.b. 1996)
commodities: citrus potatoes grapes wine cement clothing and shoes
partners: Russia 19.1% Bulgaria 16.4% UK 11.3% Greece 6.3% Germany 4.8%
total value: Turkish Cypriot area: $70.5 million (f.o.b. 1996)
commodities: citrus potatoes textiles
partners: Turkey 48.2% UK 21.3% other EU 13.7%
Imports:
total value: Greek Cypriot area: $3.6 billion (f.o.b. 1996)
commodities: consumer goods petroleum and lubricants food and feed grains machinery
partners: US 17.8% UK 11.9% Italy 9.7% Germany 7.5% Greece 7.6%
total value: Turkish Cypriot area: $318.4 million (f.o.b. 1996)
commodities: food minerals chemicals machinery
partners: Turkey 55.3% UK 13.8% other EU 11.6%
Debt—external: Greek Cypriot area: $1.56 billion (1997)
Economic aid: Greek Cypriot area: recipient—$187 million (1990-94) in grants; Turkish Cypriot area: recipient—$700 million (1990-97) from Turkey in grants and loans that are usually forgiven
Currency: 1 Cypriot pound (£C) = 100 cents; 1 Turkish lira (TL) = 100 kurus
Exchange rates: Cypriot pounds per US1$—0.5326 (January 1998) 0.5135 (1997) 0.4663 (1996) 0.4522 (1995) 0.4915 (1994) 0.4970 (1993); Turkish liras (TL) per US$1—187 477 (November 1997) 81 405 (1996) 45 845.1 (1995) 29 608.7 (1994) 10 984.6 (1993)
Fiscal year: calendar year
Source - world66.com
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ARAB BANK PLC 25650 22899100 22767741 NICOSIA
BANK OF CYPRUS LTD. 21472 22378000 22378111 NICOSIA
COMMERCIAL BANK OF GREECE 25151 22663537 22663923 NICOSIA
CYPRUS DEVELOPMENT BANK 21415 22846500 22846600 NICOSIA
CYPRUS POPULAR BANK LTD 22032 22752000 22812250 NICOSIA
FBME. 25566 22888444 22888555 NICOSIA
HELLENIC BANK 24747 22500000 22500050 NICOSIA
HOUSING FINANCE CORPORATION -22761777 - NICOSIA
LOMBARD NATWEST BANK LTD. 21661 22474333 22457870 NICOSIA
NATIONAL BANK OF GREECE (CYPRUS). 21191 22840000 22758090 NICOSIA
SOCIETE GENERALE CYPRUS 25400 22817777 22764471 NICOSIA
UNITED OVERSEAS BANK CYPRUS -22363500 22450025 NICOSIA
UNIVERSAL BANK. -22899100 22767741 NICOSIA
YIALOUSA SAVINGS BANK LTD 28510 22472972 22450280 NICOSIA
BANK OF CYPRUS LTD. 35363 23721470 23721013 AYIA NAPA
BANK OF CYPRUS LTD. -23825100 23831377 PARALIMNI
CO-OPERATIVE CREDIT SOCIETY -23821356 23821357 PARALIMNI
CYPRUS POPULAR BANK LTD -23721266 23722536 AYIA NAPA
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HELLENIC BANK -23722433 23722636 AYIA NAPA
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HOUSING FINANCE CORPERATION -23821130 - PARALIMNI
LOMBARD NATWEST BANK LTD. -23825277 23825588 PARALIMNI
LOMBARD NATWEST BANK LTD. - 23722353 - AYIA NAPA
NATIONAL BANK OF GREECE (CYPRUS). 30217 23721660 23721020 AYIA NAPA
NATIONAL BANK OF GREECE (CYPRUS). 30056 23831244 - PARALIMNI
UNIVERSAL BANK. -23812255 23812260 PARALIMNI
UNIVERSAL BANK. -23819260 23724055 AYIANAPA
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ARAB BANK PLC 40855 24828800 24625087 LARNACA
BANK OF CYPRUS LTD. 40093 24653181 24653900 LARNACA
CO-OPERATIVE CENTRAL BANK LTD -24654312 - LARNACA
CYPRUS POPULAR BANK LTD -24652624 24628652 LARNACA
HELLENIC BANK -24503000 24654366 LARNACA
LOMBARD NATWEST BANK LTD. 40343 24657222 24651370 LARNACA
NATIONAL BANK OF GREECE (CYPRUS). 40090 24654743 24659629 LARNACA
SOCIETE GENERALE CYPRUS -24818830 24818013 LARNACA
UNIVERSAL BANK. -24664255 24664279 LARNACA
ARAB BANK PLC 53433 25825902 25335856 LIMASSOL
BANK OF CYPRUS LTD. 50215 25388139 25388007 LIMASSOL
BANQUE SBA-IBU CYPRUS 54405 25588650 25581643 LIMASSOL
BNPPARIBAS CYPRUS -25840800 - LIMASSOL
COMMERCIAL BANK OF GREECE -25747500 - LIMASSOL
CYPRUS POPULAR BANK LTD -25352000 25354717 LIMASSOL
FBME. 53498 25377811 25347665 LIMASSOL
HELLENIC BANK -25502300 25731031 LIMASSOL
HOUSING FINANCE CORPORATION -25336030 - LIMASSOL
LOMBARD NATWEST BANK LTD. -25589300 - LIMASSOL
NATIONAL BANK OF GREECE (CYPRUS). 50206 25352077 25357084 LIMASSOL
SOCIETE GENERALE CYPRUS 54911 25583377 25853399 LIMASSOL
UNIVERSAL BANK. -25822929 25822882 LIMASSOL
ARAB BANK PLC 60540 26811001 26944018 PAPHOS
BANK OF CYPRUS LTD. 60034 26941818 26943040 PAPHOS
CYPRUS POPULAR BANK LTD -26951513 26946830 PAPHOS
GREEK CO-OPERATIVE SAVINGS BANK -26933180 - PAPHOS
HELLENIC BANK -26951474 26953077 PAPHOS
HOUSING FINANCE CORPORATION -26936500 - PAPHOS
SOCIETE GENERALE CYPRUS -26822111 26822797 PAPHOS
UNIVERSAL BANK. -26941777 26944120 PAPHOS