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International Banking Through Cyprus Dimitris Zisimidis Manager, Limassol International Banking Unit Piraeus Bank (Cyprus) Ltd Vilnius June 12, 2012. The Cyprus Financial Sector. CYPRUS GOVERNMENT . CENTRAL BANK . BAR ASSOCIATION & ICPAC. Robust Regulation. Oversight. Legislation.
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International Banking Through Cyprus Dimitris Zisimidis Manager, Limassol International Banking Unit Piraeus Bank (Cyprus) Ltd Vilnius June 12, 2012
The Cyprus Financial Sector CYPRUS GOVERNMENT CENTRAL BANK BAR ASSOCIATION & ICPAC Robust Regulation Oversight Legislation CYPRUS BANKING SYSTEM SERVICESPROVIDERS (accountants & lawyers) Tax Advantages Expertise Experience Confidentiality Extensive Network Education Infrastructure Extensive Networks Knowledge
Why Banking in Cyprus • International Standards • Legal, accounting and banking systems based mainly on English practices • International Financial Reporting Standards (IFRS) since 1982 • Experienced employees • Highly qualified managerial, clerical and technical staff • Worldwide network • Wide network of correspondent accounts • Excellent relations with European countries, Russia, Ukraine, countries of the Middle East and the Gulf, India. • Highly Regulated Banks • The regulator, Central Bank of Cyprus is part of the Eurosystem • Robust internal procedures at banks • Strict Anti Money Laundering Standards • Banks’ Offerings • Whole spectrum of Financial Services (one stop shopping) • Ability to open accounts in all major currencies • Confidentiality & Anonymity
…in a banking system weathering the crisis we had … • Increase in Foreign Resident deposits • Controlled loan/deposits
…steadily growing… Banking system deposits & loans
How banking works with Piraeus Bank… MARKETING ACCOUNT OPENING Clients/Partners ACCOUNT OPERATION • LIAISON WITH: • Wealth Management • Treasury • Custody • Card Services • Trade Finance Relationship Manager - Single point of reference -One stop shop service IDENTIFICATION OF CUSTOMER NEEDS SERVICING CUSTOMER NEEDS LENDING
… and how Piraeus Bank supports you • SERVICING CUSTOMERS’ NEEDS & WANTS • Universal Bank • Cash Management Solutions • In-house Lending Team • In–house Compliance Officer • In–house Business Development Manager • Internal Lawyers for Escrow Services • Competitive Pricing with no hidden costs • ACCOUNT OPERATION • Advanced platform for: • internet banking (trilingual) • Mobile Banking • Telephone Banking • Extended working hours (7:30 – 18:00) • Extended Cut – Off Times • 24/7 Call Service • Payments in over 42 currencies (same–day value) • ACCOUNT OPENING / CUSTOMER SERVICE • Specialization & Professionalism • Assigned Customer Service Team • Experienced Staff with Multilingual skills • Accuracy & speed • Visiting you at your own premises • Confidentiality & Anonymity
Piraeus Bank Cyprus Ltd e-Channels operation • --------------------------------------------------------------------------------------- Internet Banking Mobile Banking Phone Banking Smartphone Banking Tablet Banking 9 9