Trust in banks in Cyprus is growing.
This is evidenced by the results of a survey conducted among Cypriot households by the business portal StockWatch in December 2023.
StockWatch has been practicing such surveys since 2013. Compared to the previous survey, conducted in July 2023, five banks improved their performance, and one improved.
Respondents were asked to rank (on a scale of 0 to 10 points) seven banking institutions in terms of their reliability and how much they would recommend a particular bank. The average was 4.91 out of 10 points, up from 4.54 points achieved last time.
The highest score (5.75 points) was given to the Bank of Cyprus, which has been consistently at the top of the ranking lately.
In August last year, BOC received a score of 6.05 points.
The level of confidence in Bank Hellenic remained at the same level - 5.5 points. The third place was taken by Eurobank. The level of confidence in this bank increased to 4.9 from 4.4 points in July 2023.
Next are Alpha Bank (4.8 points vs. 4.6 points in July 2023), Ancoria (4.7 vs. 3.9), AstroBank (4.5 points vs. 3.9 points), CDBBank (4.25 points vs. 3.45 points).
The survey was conducted between December 8 and December 15, 2023, through telephone interviews at the RAI Consultants call center.