30/11/2009 13:44
The small and the non-Cypriot banks are definitely the winners of the banking system this year, with the big players losing shares in both loans and deposits, despite their strong efforts in the past few months. The latest Central Bank data for the market shares in the banking sector show the difficulties that the big commercial banks face in a period of strong competition in order to maintain their shares and profitability. The new players in the market are the winners, especially the Greek Piraeus Bank and Eurobank, as well as the 113 Cooperatives.
Lost shares in loans
The trends in the banking system are indicative in the loans, where the big banks see their shares declining, despite the new products that are out in market.
According to CB data, Bank of Cyprus is still first in loans, however, its market share fell to 23.06% in October 2009 from 23.79% in the corresponding month of 2008 (-0.7%).
The market share of Marfin fell to 15.52% from 15.74% in October 2008 (-0.2%), while that of HB dropped to 6.78% from 6.85% (-0.1%).
Alpha Bank ranks third with its market share decreasing by 0.7% to 7.84% from 8.49%.
The Coops’ share fell to 18.70% from 18.24% in October 2008.
The foreign banks lost a market share of 4.4 percentage points, while that of USB declined slightly too.
The Greek banks Piraeus and Eurobank, on the other hand, gained significant market shares. Piraeus Bank holds 0.84% of the market share from 0.52% in October 2008 and Eurobank 5.18% from 2.27% in late December 2008, although the increase is mostly attributable to inter-group transfer of credit balances.
According to figures, the total loans in banks stood at €57.75 billion in late October 2009.
Deposits
According to latest figures, Bank of Cyprus reduced its market share to 26.04% from 27.68% (-1.64%). Similarly, Marfin saw its share shrinking to 19.38% from 20.36% (-0.98%).
On the contrary, the market share of Hellenic Bank increased by 0.4 percentage points to 9.68% from 9.28% in October 2008.
The market share of the foreign banks fell from 11.67% to 8.48%.
On the other hand, the Coops increased their share in deposits to 21.32% from 18.38% (+2.94%).
Of the Greek banks, Piraeus increased its share by 0.08% to 1.44% from 1.36%, while Eurobank increased it too to 2.56% from 1.63%.
The total deposits in late October stood at €58.12 billion.
Lost shares in loans
The trends in the banking system are indicative in the loans, where the big banks see their shares declining, despite the new products that are out in market.
According to CB data, Bank of Cyprus is still first in loans, however, its market share fell to 23.06% in October 2009 from 23.79% in the corresponding month of 2008 (-0.7%).The market share of Marfin fell to 15.52% from 15.74% in October 2008 (-0.2%), while that of HB dropped to 6.78% from 6.85% (-0.1%).
Alpha Bank ranks third with its market share decreasing by 0.7% to 7.84% from 8.49%.
The Coops’ share fell to 18.70% from 18.24% in October 2008.
The foreign banks lost a market share of 4.4 percentage points, while that of USB declined slightly too.
The Greek banks Piraeus and Eurobank, on the other hand, gained significant market shares. Piraeus Bank holds 0.84% of the market share from 0.52% in October 2008 and Eurobank 5.18% from 2.27% in late December 2008, although the increase is mostly attributable to inter-group transfer of credit balances.
According to figures, the total loans in banks stood at €57.75 billion in late October 2009.
Deposits
According to latest figures, Bank of Cyprus reduced its market share to 26.04% from 27.68% (-1.64%). Similarly, Marfin saw its share shrinking to 19.38% from 20.36% (-0.98%). On the contrary, the market share of Hellenic Bank increased by 0.4 percentage points to 9.68% from 9.28% in October 2008.
The market share of the foreign banks fell from 11.67% to 8.48%.
On the other hand, the Coops increased their share in deposits to 21.32% from 18.38% (+2.94%).
Of the Greek banks, Piraeus increased its share by 0.08% to 1.44% from 1.36%, while Eurobank increased it too to 2.56% from 1.63%.
The total deposits in late October stood at €58.12 billion.
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