Cyprus’ banking sector is undergoing significant changes, with recent mergers reshaping the financial landscape.
At the same time, Cypriots are paying the highest mortgage rates in the eurozone while receiving some of the lowest interest rates on their deposits.
“The banking system operates close to an oligopoly, limiting competitive pressure,” said Central Bank of Cyprus (CBC) governor Christodoulos Patsalides, highlighting the limited competition within the sector.
These concerns arise as
