Itsy101

Whaich bank would people reccomend?

zygiman

Bank of Cyprus and Marfin Bank (Laiki) are the two strongest banks in Cyprus. There is some debate about security at the moment, as they are exposed to Greek debt. Hopefullt the Russian money in these banks will stay.

DerekM

HSBC also have branches in Cyprus.....they should be safe!

Veronica-K

The Marfin Laiki bank currently has a Weiss Rating of Aa3.
Anything in the A's is classed as excellent.
B's are good.
C's are fair.
D's are poor.
E's are very poor.

DerekM

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Revised ratings issued 28/5/2011


ON MONDAY, Moody’s Investors Service said it downgraded the deposit and debt ratings of Marfin Popular Bank Public Co Ltd to Baa2/Prime-2 from A3/Prime-1 and Bank of Cyprus Public Co Ltd to A3/Prime-2 from A2/Prime-1. At the same time, Moody’s has confirmed the deposit and debt ratings of Hellenic Bank Public Co Ltd at Baa2/Prime-2.

The outlook on all the banks’ ratings is negative. The Russian subsidiaries of MPB and BoC – Rosprombank and Bank Uniastrum, respectively – are not affected by Monday’s rating action.

These actions reflect the banks’ direct sizable exposure to the Greek economy through their operations in Greece, and their relative capacity to manage the resulting pressure on asset quality, earnings and capitalisation.

Concerns about the economic conditions in Cyprus and the performance of its domestic real estate market also contributed to Monday’s rating actions.