1. Trade Finance
Financing for importing/exporting firms. We offer a complete range of products and services that include:
- Documentary Credits
- Bills for Collection
- Forward Contracts
- Negotiation of Foreign Bills
- Guarantees
2. Business Loans
Suitable for the financing of capital assets.
- Can be denominated in EURO or any other major currency (overdrafts denominated in foreign currency are subject to Central Bank approval)
- Foreign currency loans linked to LIBOR
- Negotiable repayment schedules
- Flexible repayment schedules to meet seasonal requirements
3. Hire Purchase & Leasing
We offer a range of hire purchase and leasing arrangements:
- Repayment schedules designed to match the useful life of assets
- Ownership of assets is ultimately passed on to customer (Hire Purchase only)
4. Overdrafts
Overdrafts are a flexible way to finance short-term requirements and working capital needs.
- Can be denominated in EURO or any other major currency (overdrafts denominated in foreign currency are subject to Central Bank approval)
- Level of facility negotiable to suit customer needs
- Level of facility can fluctuate to meet seasonal requirements
5. Business Cards
We offer a complete range of Business Cards like:
- Classic Cards
- Gold Cards
- Platinum Cards
- American Express
For more information, visit our Cards Section.
6. Foreign Exchange Products
6.1 Spot Foreign Exchange
Spot deals involve the purchase / sale of one currency against another for value date (on which the exchange of money will actually take place) which is within two business days after the dealing day.
6.2 Forward Foreign Exchange
A forward exchange contract is a deal that specifies the amount of one currency, which is to be exchanged for another at a future date (over two working days from today) at an exchange rate set when the deal is made.Bank of Cyprus trades in the forward market all major currencies against the EURO, and against each other.
- Outright Forward: these are binding fixed maturity date contracts. They must be executed on maturity. There is no possibility to buy/sell before maturity.
- Option Dated Forward: the client has the right to buy/sell foreign currency on or at any time before the maturity date at the set price. The contract is binding.
Both types of Outright forward contracts are offered to Cypriot Clients / Companies, which aim to cover their foreign exchange exposures emanating from international trade transactions.
6.3 Foreign Exchange Bank Notes
- Foreign Notes and Coins
- Traveler cheques (Sold and bought over the counter by the Bank's retail network. The Bank can sell/buy notes on all major currencies).
- Foreign Exchange Options
7. Interest Rate Products
7.1 Foreign/ local currency Deposits and Loans
7.2 Interest Rate swaps
An Interest Rate Swap is an agreement between two parties under which the interest rate obligations in the form of a fixed or variable interest rate are swapped for a certain period, on the basis of an agreed principal. The principal amount on which the interest rates are calculated is the same for both parties and is not exchanged. This product is offered in all currencies as long as the principal amount is EUR 1,700,000 or more.
8. Investment Products
8.1 Capital Guaranteed products
Bank of Cyprus offers from time to time capital guaranteed products in EURO and foreign currency where the initial capital invested is guaranteed
Τhe performance of the deposit is linked to the performance of an index, a basket of stocks or an exchange rate