Banking in Cyprus: its road to EU and Euro adaptation

Laou, Persefoni (2007) Banking in Cyprus: its road to EU and Euro adaptation. [Dissertation (University of Nottingham only)] (Unpublished)

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The purpose of this study is to analyse the Greek Cypriot banking sector from the time that the first bank was established in the island until today. The study will concentrate to the reforms and restructures that banking sector had undergone, after accession of Cyprus to the European Union, on 1 May 2004, and also the reforms that the banking sector will undergo after and during the process of the adaptation of euro as the official currency, on 1 January 2008. Finally an analysis of the performance of banks before and after the EU will be given.

The dissertation is divided into two parts; the first one is the analysis of what literature says about the history and present situation of the banking sector. The purpose of this chapter is to analyse the banking sector of Cyprus, from the time that the first bank was established in the island, in 1863, until today, which is preparing for the second most important change in its history. A bigger emphasis will be to given to the description of the reforms that banking sector has undertaken before and after Cyprus accession to the European Union, and also the changes that banks are undertaking for the adaptation of euro in 2008.

In the second part of my dissertation I will examine the performance of the two selected banks. Bank of Cyprus (BOC) and Hellenic Bank (HB) - during the period 2001-2006, as well as the performance of banks after the introduction of Cyprus to the EU. With this way I will be able to conclude if the Cyprus banking has performed well the previous years and if the entry of Cyprus to the EU had a positive or negative influence in the banking sector, beyond what theory says.

Item Type: Dissertation (University of Nottingham only)
Keywords: Banking,Cyprus, EU, Euro adaptation.
Depositing User: EP, Services
Date Deposited: 06 Mar 2008
Last Modified: 25 Apr 2018 13:03

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