Competitive Strategy of Greek Banks in Cyprus
October 12, 2026
Greek banks in Cyprus are aggressively competing by offering high interest rates to attract depositors, and they are also challenging local banks like Ancoria. The National Bank and Alpha Bank lead in household deposit interest rates at 1.69% and 1.65% respectively. Ancoria stands out in corporate deposits with an impressive rate of 2.20%. This competition puts pressure on local banks to lower lending costs. The challenge now is to reduce the spread between loans and deposits for market stability.