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Trading

List of Banks in Northern Cyprus

Published by Gbaf News

Posted on June 14, 2012

1 min read

· Last updated: September 24, 2024

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Banking M&A Digital banking Central Banks


Hamza Bank
Cyprus Turkish Cooperative Central Bank
Near East Bank
Limassol Turkish Cooperative Bank
Cyprus Vakiflar Bank
Cyprus Economy Bank
Med Bank Renamed Seker Bank in 2001
Creditwest Bank
Denizbank
HSBC Bank
Sekerbank (Kibris)
Asbank
Yesilada Bank
Universal Bank
Yasa Bank
Viyabank
 Akfinans Bank
Halk Bankası
Asia Bank
Türkiye Is Bankasi
Ziraat Bankası
Turkish Bank
Türk Ekonomi Bankası
Oyak Bank
Cyprus Commercial Bank
Artam Bank
Tilmo Bank
Development Bank of the TRNC
Industrial Bank of Kibris
Garanti Bankasi
Rumeli Bank
Cyprus Eurobank
Cyprus Commercial Bank
Finba Financial Bank Renamed Artam Bank in 2001
Erbank
Industrial Bank
Kibris Continental Bank
Mediterranean Guarantee Bank Transferred to Cyprus Vakiflar Bank on July 28th 2005
 

Key Takeaways

  • Northern Cyprus banking is regulated by its Central Bank with diverse bank types: public, private, foreign, development, and SDIF-controlled.
  • Several banks have merged, been rebranded or transferred, reflecting consolidation and regulatory action.
  • Major Turkish banks have extensive branch networks in Northern Cyprus, offering stability and international connectivity.
  • International Banking Units cater exclusively to non-residents under strict oversight.
  • Defunct banks include Hamza Bank, Med Bank, Finba, and others transferred or renamed in early 2000s.

References

Frequently Asked Questions

Who regulates banks in Northern Cyprus?
The Central Bank of the Turkish Republic of Northern Cyprus oversees all banks under TRNC Banking Law, enforcing KYC and AML standards.
What types of banks operate there?
There are public banks, private banks, foreign bank branches, development and investment banks, International Banking Units, and banks under the Savings Deposit Insurance Fund.
What happened to defunct banks like Hamza Bank and Med Bank?
Hamza Bank was taken over by Şekerbank in 2002; Med Bank was renamed Şekerbank in 2001; others were transferred or closed under SDIF oversight.

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