IMF Staff Country Reports

Cyprus: Selected Issues

Publication Date:

September 15, 2010

Electronic Access:

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Summary:

The financial sector is mostly comprised of the banking sector, which largely provides insurance and asset management services. A large part of banking system assets relates to subsidiaries and branches of foreign banks. The banking sector poses risks by virtue of its size and concentration. The Cypriot banking system has weathered the crisis better than many other euro zone area countries. Significant headwinds for the overall banking system are expected, and the cooperative banks appear particularly vulnerable.

Series:

Country Report No. 2010/289

Subject:

Banking Commercial banks Cooperative banks Financial institutions Nonperforming loans Output gap Potential output Production