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Free area: Nicosia,  Limassol,
Larnaca, Paphos, Polis,
Ayia Napa, Paralimni.
Occupied area: Ammochostos (Famagusta),
Kyrenia, Morfou, Rizokarpaso
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The following banks PARTICIPATING in the Cyprus Deposit Protection Scheme:

Deposit Protection Scheme1. Alpha Bank Cyprus Ltd
2. Arab Jordan Investment Bank SA – Cyprus Branch
3. Bank of Beirut sal – Cyprus Branch
4. Bank of Cyprus Public Company Ltd (including its branches in Greece, the UK and Romania)
5. BankMed sal – Cyprus Branch
6. Banque Bemo sal – Cyprus Branch
7. BBAC sal – Cyprus Branch
8. BLOM Bank sal – Cyprus Branch
9. Byblos Bank sal – Cyprus Branch
10. Credit Libanais sal – Cyprus Branch
11. Emporiki Bank – Cyprus Ltd
12. Eurobank EFG Cyprus Ltd
13. FBME Bank Ltd – Cyprus Branch
14. Hellenic Bank Public company Limited (including its branches in Greece)
15. Housing Finance Corporation
16. IBL Bank sal – Cyprus Branch
17. Jordan Ahli Bank plc – Cyprus Branch
18. Jordan Kuwait Bank plc – Cyprus Branch
19. Lebanon and Gulf Bank sal – Cyprus Branch
20. Cyprus Popular Bank Public Co Ltd (including its branches in Greece and the UK)
21. National Bank of Greece (Cyprus) Ltd
22. Open joint-stock company AvtoVAZbank – Cyprus Branch
23. Open joint-stock company Promsvyazbank – Cyprus Branch
24. Piraeus Bank (Cyprus) Ltd
25. PrivatΒank – Cyprus Branch
26. Russian Commercial Bank (Cyprus) Ltd
27. Société Générale Bank Cyprus Ltd
28. The Cyprus Development Bank Public Company Limited
29. USB Bank plc


Current list please check in the site of Central Bank of Cyprus - www.centralbank.gov.cy


List of banks PARTICIPATED in the Cyprus Deposit Protection Scheme in 2008-2011

Note: The Regulations on the Establishment and Operation of the Deposit Protection Scheme have been amended on 24 July 2009, in accordance with which the following changes were introduced:

- The maximum amount of compensation per depositor per bank has increased from €20.000 to €100.000

- All currencies of deposits are now covered whereas before only the currencies of member states of the EU were covered

- The coinsurance has been abolished and, therefore, claims up to €100.000 are fully reimbursed (whereas before only 90% of the claims was covered)

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In accordance with the Regulations on the Establishment and Operation of the Deposit Protection Scheme (DPS) issued under article 34(2) of the Banking Law of 1997, as subsequently amended, a Deposit Protection Fund (DPF) has been established and is in operation since September 2000. The DPF is a separate legal entity administered by a Management Committee.

The purpose of the DPS is to provide protection and pay compensation to depositors in case a member bank is unable to repay the deposits of its customers.

The DPS covers deposits denominated in all currencies. Participation is compulsory for all the banks licensed by the Central Bank of Cyprus (i.e. banks incorporated in Cyprus as well as Cyprus branches of foreign banks incorporated outside the European Union) which accept deposits from the general public including, in the case of banks incorporated in Cyprus, their branches operating in other European Union countries. The DPF’s Management Committee may exempt a Cyprus branch of a foreign bank incorporated outside the European Union from joining the Cyprus DPS provided that it is covered by an equivalent DPS in its country of origin.

The deposits of the European Union branches operating in Cyprus are covered, in accordance with the relevant directive of the European Union, by the corresponding DPS operating in their country of incorporation.

The DPS is activated if it is determined that a member bank is unable to repay its deposits, such a determination being made by the Central Bank of Cyprus or, in case of a member bank which is incorporated in a country other than Cyprus, the competent supervisory authority of the country where the bank is incorporated. The DPS may also be activated by a Court’s order for the liquidation of a member bank.

The maximum level of compensation, per depositor and per bank, under the DPS is €100.000. This limit applies to the aggregate of a depositor’s deposits with the same bank.

For the purposes of calculating the compensation paid to a depositor, the amounts of deposits will be set-off against any loans or other credit facilities granted by the depositor’s bank as well as any other counterclaim that the bank concerned may have against the depositor in respect of which a right of set-off exists.

In accordance with article 18 of the Regulations governing the operation of the DPS certain categories of deposits are exempted from the payment of compensation. (e.g. bank deposits held for own account, deposits by provident and pension funds, insurance companies, government departments, semi-government organisations and local authorities, deposits by collective investment companies etc.).

Should the DPS be activated, an announcement will be made in the Official Gazette of the Republic of Cyprus as well as in the daily press stating that the member bank is unable to repay its deposits and determining the way in which claims together with supporting documentary evidence should be submitted.

BANKS EXEMPTED FROM THE DEPOSIT PROTECTION SCHEME:

A. Banks
Co-operative Central Bank Ltd

Β. Branches of banks established in other Member states of the European Union
1. AS LTB Bank
2. Banca Transilvania S.A.
3. Banque SBA SA
4. Barclays Bank plc
5. Central Cooperative Bank plc
6. National Bank of Greece S.A.
7. First Investment Bank Ltd
8. Joint Stock Company Akciju Komercbanka “Baltikums”
9. Joint Stock Company "Trasta Komercbanka"


Current list please check in the site of Central Bank of Cyprus - www.centralbank.gov.cy


List of banks EXEMPTED in the Cyprus Deposit Protection Scheme in 2008-2011

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