In the first half of 2025, the Cypriot banking sector showed a notable rise in business confidence. According to a survey of 740 commercial enterprises on the island conducted in June 2025, the average confidence rating for banks rose to 6.28 on a scale of 1 to 10. For comparison, in June 2024, the rating was just 5.33. Thus, confidence increased by nearly one point in one year, marking the best result since 2018.
The Cypriot banking sector is reaching new heights
The survey showed that all of Cyprus's key banks improved their performance. This indicates the stabilization and strengthening of relations between the island's financial institutions and entrepreneurs after many years of crisis and volatility. Alpha Bank (+1.15%), CDB Bank, and AstroBank (+1% each) demonstrated the best results. Eurobank also recorded a significant increase (+1.05%), and Hellenic Bank returned to pre-crisis confidence levels.
The Bank of Cyprus, the traditional leader of the sector, also improved its position, though not as sharply as its competitors (+0.7%). Nevertheless, it still ranks first in the final table.
The detailed results of the survey
The survey participants were companies from various sectors, including construction, industry, retail, and services. Interviews were conducted by telephone from June 2 to 19, 2025. Respondents were asked to rank seven banking institutions on a scale of 0 to 10 based on reliability and likelihood of recommendation to others. The average score was 6.28, compared to 5.33 last time. As a result, the ratings are as follows:
- Bank of Cyprus: 7 points, up from 6.3 a year earlier.
- Hellenic Bank: 6.7 points, up from 5.8 a year earlier.
- Eurobank received 6.85 points, up from 5.8 a year earlier.
- Alpha Bank: 6.5 points, up from 5.35 a year earlier.
- AstroBank received 6.05 points, up from 5.05 a year earlier.
- CDB Bank: 5.45 points, up from 4.45 a year earlier.
- Ancoria Bank: 5.4 points, up from 4.55 a year earlier.
These results reflect a steady trend toward restoring confidence in financial institutions. It is particularly important that this growth has affected the entire sector, not just individual banks.
What does increased confidence mean for businesses?
Experts believe the improved perception of banks is due to several factors: stabilization of the financial market, introduction of digital technologies, expansion of services for businesses, and active improvement of customer service policies. In a climate of global uncertainty, companies need reliable financial partners more than ever, and Cypriot banks are gradually regaining this reputation.