INFORMATION SHEET NO.56

Banks in October 2012

Intorduction Cyprus has a highly developed banking system, with offering a wide spectrum of products and services, via an extensive network of branches in Cyprus and abroad. The banking system in Cyprus is governed by the Central of Cyprus, which grants all licenses to carry out Banking Business. The Central bank also exercises supervision, the main objective of which is to minimize systemic risk and preserve the stability of the banking system so as to retain public confidence and to protect depositors.

A. Banks incorporated in cyprus 1. Cyprus Commercial Banks Public Company Ltd The Bank of Cyprus was founded in 1899 and is the holding company of the Bank of Cyprus Group. The Bank is the leading organization in Cyprus, with a dynamic presence in and full banking operations in the and . The Group offers a wide range of financial products and services, which include banking services in Cyprus, Greece, the U.K., Australia, , Russia and the Channel Islands as well as finance, leasing, factoring, brokerage, fund management, , general and life services in Cyprus and Greece. The Bank maintains representative offices in the , the United States of America, and . The Bank's market share in total banking system deposits and loans in Cyprus, including credit cooperatives, amounts to 30,4% and 29,0%, respectively. The Bank operates 143 branches in Cyprus while the Bank of Cyprus Group employs 11.962 staff worldwide. At 31 March 2012, the Group’s Total Assets amounted to €38,66 bn and the Shareholders’ Funds were €2,85 bn. The Bank of Cyprus shares are listed on the Cyprus and Stock Exchanges. Public Co Ltd The bank was first established in Cyprus in 1901 under the name “Popular Savings Bank of .” Cyprus Popular Bank, in its present form, was created by the merger in 2006 of three Groups: Marfin Financial Group, Laiki (Popular) Group and Egnatia Bank. The subsequent consolidation has created a major financial institution with a leading competitive advantage. Cyprus Popular Bank offers a wide range of financial services through its subsidiary companies and its branch network. It has over 150 branches in Cyprus, 144 in Greece, 11 in Australia, 4 in the UK, 1 in , 27 in , 27 in Romania and 4 in . It also has representative offices in the USA, Canada, South Africa and Russia.

Limassol(HQ) • London • Warsaw • Bucharest • Athens • • Tortola • Johannesburg • Cape Town • Luxembourg • Sofia •

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Hellenic Bank Public Company Limited The Group commenced operations in 1976. In March 1996, the Group acquired the onshore operations of Bank in Cyprus. The enlarged Hellenic Bank Group now has a presence in Cyprus and Greece and maintains representative offices in South Africa, Russia and Ukraine. With over 66 branches in Cyprus and more than 20 branches in Greece, the bank currently has over 2,000 employees. The Hellenic Bank Group dynamically expanded its operations in the insurance sector, with the acquisition of the Pancyprian and Ledra insurance companies. Hellenic Bank and Alico AIG Life have commenced the provision of insurance banking services through Hellenic Bank's branch network in Cyprus, with the establishment of the Hellenic Alico Life Insurance Company Ltd. USB Bank PLC USB Bank was first established as the Yialousa Savings Bank (YSB), which was established and commenced operations in 1925 in Yialousa, a town today located in the Turkish occupied north of the island. YSB was only the 10th registered on the island. In 1996, Universal Life Insurance Company Limited, one of the largest life assurance companies in Cyprus, acquired 30% of YSB. In 2004, the bank's name changed to Universal Bank Public Ltd while in 2006 Universal Life's shareholding in USB stood at 61%. In September 2010, BLC Bank acquired 9.9% of the shares of the USB Bank PLC CYPRUS and in March 2011, the Bank became a 95.61% majority shareholder of USB Bank PLC Cyprus after obtaining the final approval of the . Universal Bank operates 16 branches throughout the island and close to 190 staff. 2. Subsidiaries of Foreign Banks

• Αlpha Bank Cyprus Ltd • DePfa Investment Bank Ltd • – Cyprus Limited • Kommunalkredit International Bank Ltd • National (Cyprus) Ltd • Russian (Cyprus) Ltd • Societe Generale Bank - Cyprus Ltd • Bank of Piraeus (Cyprus) Ltd • Eurobank EFG Cyprus Ltd 3. Other Banks • Co-operative Central Bank Ltd • The Cyprus Development Bank Public Company Limited • Housing Finance Corporation • Mortgage Bank of Cyprus Ltd 4. Companies Licensed to Conduct Limited Banking Operations

• Euroinvestment & Finance Public Limited • Pancyprian Finance Public Company Ltd

Limassol(HQ) • London • Warsaw • Bucharest • Athens • Thessaloniki • Tortola • Johannesburg • Cape Town • Luxembourg • Sofia • Beijing

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Β. BRANCHES OF FOREIGN BANKS 1. Branches of Banks of European Union Countries • Barclays Bank PLC • Banque SBA SA • First Investment Bank Ltd • Joint Stock Company “Trasta Komercbanka” • S.A. • DEPFA Bank plc • Central Cooperative Bank PLC • S.A. 2. Branches of Banks of Countries other than European Union

• 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 • Open joint-stock company AvtoVAZbank • OJSC Promsvyazbank • Jordan Kuwait Bank PLC • Jordan Ahli Bank plc • Lebanon and Gulf Bank SAL • Lloyds TSB Offshore Limited • Privatbank Commercial Bank C. REPRESENTATIVE OFFICES • UBS AG • HSBC Bank PLC Regulatory Updates Cyprus formed a “Unit for Combating Money Laundering Offences” established under the “Prevention and Suppression of Money Laundering Activities Law of 2007,” which Cyprus ratified in Januray of 2008. As a result and following instructions from the Central Bank of Cyprus, local banks implemented much stricter due diligence procedures. Please contact us for more information.

NOTES: The above is intended to provide a brief guide only. It is essential that appropriate professional advice is obtained. Totalserve Management Ltd will be glad to assist you in this respect. Please do not hesitate to contact us.

Limassol(HQ) • London • Warsaw • Bucharest • Athens • Thessaloniki • Tortola • Johannesburg • Cape Town • Luxembourg • Sofia • Beijing

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