Number of banks reached 29.0 banks in 2019 in Cyprus, according to the National Central Bank. This is 9.38 % less than in the previous year.
Historically, number of banks in Cyprus reached an all time high of 43.0 banks in 2007 and an all time low of banks in. When compared to Cyprus's main peers, number of banks in Egypt amounted to 38.0 banks, 28.0 banks in Greece, 14.0 banks in Israel and 34.0 banks in Turkey in 2019.
Cyprus has been ranked 52nd within the group of 140 countries we follow in terms of number of banks, 11 places behind the position seen 10 years ago.