Public confidence in Cypriot banks is falling.
This is evidenced by the results of a survey conducted among Cypriot households by the business portal StockWatch in July 2024.
It should be noted that StockWatch has been practising such surveys since 2013. Compared to the previous survey conducted in April 2024, all seven banks worsened their performance. A total of 600 Cypriot households participated in the survey.
Respondents were asked to rank (on a scale of 0 to 10 points) the seven banking institutions in terms of their reliability and how much they would recommend a particular bank. The average was 4.75 out of 10 points, up from 5.09 points achieved last time.
The highest score (5.75 points) was given to Bank of Cyprus, which has been consistently at the top of the ranking recently.
In April 2024, BoC received a score of 6.2 points. Bank Hellenic had a confidence level of 5.6 points compared to 5.75 points three months earlier. Third place was taken by Alpha Bank. The level of confidence in this bank stopped at 4.85 against 5 points in April 2024. Next are: Eurobank (4.7 points against 5.2 points in April 2024), AstroBank (4.25 points against 4.7 points), Ancoria (4.25 against 4.65), CDBBank (3.85 points against 4.1 points).