Increase in Online Banking Use in Cyprus
November 30, 2025
Cypriots have quickly embraced online banking services, with the proportion of users doubling from 2019 to 2024, reaching 80.5%. This increase is the largest in the EU, as most Cypriots have moved away from physical banks. In contrast, some eastern and southern regions of the EU still show low usage of online services. Eurostat reports that electronic banking has become the norm, providing convenience and reducing the need for local branches. These changes are causing significant shifts in the EU's banking sector.