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Posted by Kingsley Ajuonuma on February 9, 2024
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Understanding Banking in North Cyprus: A Guide for Expats and Residents

North Cyprus, with its serene landscapes and vibrant culture, also offers a robust banking system tailored to meet the needs of both residents and expatriates. The region boasts a variety of banking institutions, from foreign banks to public and private local banks, as well as International Banking Units (IBUs), ensuring comprehensive financial services are readily available.


Navigating Banking Options in North Cyprus

The Turkish Republic of Northern Cyprus (TRNC) is home to an array of banking options designed to facilitate seamless financial transactions for its diverse populace. Whether you’re looking to open a savings account, secure a mortgage, or manage international transfers, the banks in North Cyprus are equipped to provide these services efficiently.


Key Banking Institutions in North Cyprus

  • Ercan International Banking Hub: Situated near the bustling Ercan Airport, this banking hub offers a range of services, including currency exchange, international banking, and investment advice, making it a pivotal point for financial activities in the region.


  • Larnaca and Paphos Financial Services: For those residing in or traveling through the southern parts of Cyprus, Larnaca and Paphos offer extensive banking services through various international and local banks, catering to the financial needs of a global clientele.


Opening a Bank Account in North Cyprus

Opening a bank account in North Cyprus is a straightforward process, requiring just your passport and a copy of your rental or purchase agreement. This ease of access to banking services makes living in or investing in North Cyprus an attractive proposition for many.


Foreign Banks and Their Role

Foreign banks play a significant role in the North Cyprus banking landscape, offering a bridge for international financial transactions and investments. These institutions bring global banking standards to the local market, providing residents and expatriates with a familiar banking environment.


Public and Private Banks: A Diverse Offering

The distinction between public and private banks in North Cyprus highlights the range of financial products available. Public banks, often backed by the government, offer stability and a wide array of financial services, while private banks cater to more specialized banking needs, including wealth management and private lending.


International Banking Units (IBUs): Global Financial Connectivity

IBUs in North Cyprus serve as gateways to international finance, offering services tailored to foreign investors and expatriates. These units specialize in foreign currency transactions, international loans, and investment services, connecting North Cyprus to the global financial system.


The banking sector in North Cyprus is diverse and well-equipped to handle both local and international financial needs. With a mix of foreign, public, and private banks, along with specialized IBUs, North Cyprus offers a comprehensive banking experience for residents, expatriates, and investors alike. Embracing these financial services can significantly enhance your living or investment experience in this Mediterranean haven.


International Banking Units (I.B.U.)

Bank NameContact NumberWebsite
Fortress Bank0090 392 229 1960 / 61 /


Public Banks

Bank NameContact NumberWebsite
Kıbrıs Vakıflar Bankası Ltd.0090 392 228 32



Private Banks

Bank NameContact NumberWebsite
Cyprus Turkish Cooperative Central Bank0090 392 228 32
Kıbrıs İktisat Bankası Ltd.0090 392 228 53
Türk Bankası Ltd.0090 392 600 33
Limasol Türk Koop. Bankası Ltd.0090 392 228 03
Asbank Ltd.0090 392 228 30
Creditwest Bank Ltd.0090 392 678 00
Denizbank Ltd.0850 222 0
Near East Bank0090 392 444 0
Şekerbank (Kıbrıs) Ltd.0090 392 228 55
Akfinans Bank Ltd.0090 392 228 70
Capital Bank0090 392 444 22
Universal Bank Ltd.0090 392 228 62
Viyabank Ltd.0090 392 228 52


Branches of Foreign Banks

Bank NameContact NumberWebsite
Ziraat Bankası0090 392 444 00
Halk Bankası0090 392 816 02 31/
HSBC Bank A.Ş.0090 392 227 03
Türkiye İş Bankası A.Ş.0090 392 228 31
Oyak Bank A.S.0090 392 227 97
Türkiye Garanti Bankası A.Ş.0090 392 229 09
Türk Ekonomi Bankası A.Ş.0090 392 229 20





The banking information provided here is intended solely for general informational purposes. It does not constitute financial advice, and no representation or warranty, express or implied, is made regarding the accuracy, completeness, reliability, or suitability of the information. Users are advised to independently verify any banking details or consult with a qualified financial professional before making any decisions based on the information provided.


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