Public confidence in Cypriot banks is growing.
This is evidenced by the results of a survey conducted by the business portal StockWatch among Cypriot households in April 2024.
It should be noted that StockWatch has been conducting such surveys since 2013. Compared to the previous survey conducted in December 2023, five banks have improved their performance and two have deteriorated. A total of 600 Cypriot households participated in the survey.
Respondents were asked to rate (on a scale of 0 to 10) seven banking institutions in terms of their reliability, and how much they would recommend a particular bank. The average score was 5.09 out of 10, up from 4.91 in the previous survey.
The highest score (6.2 points) was given to Bank of Cyprus, which has consistently topped the rankings in recent years.
In December last year, BOC received a score of 5.75. Confidence in Bank of Hellenic increased from 5.5 to 5.75 points. Third place was taken by Eurobank. The level of trust in this bank increased from 4.9 points in December 2023 to 5.2 points. This is followed by Alpha Bank (5 points vs. 4.8 points in December 2023), AstroBank (4.7 points vs. 4.5 points), Ancoria (4.65 vs. 4.7), CDBBank (4.1 points vs. 4.25 points).