Maritime International Advisor

Safe Bank Accounts in Turbulent Financial Times - Cyprus

In these uncertain financial times some countries and banks still offer secure deposits and reliable banking facilities.
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The EU recently announced minimum deposit protection of 50,000 Euros for depositors at all EU Banks. Cyprus is a member of the EU. Individual members of the EU may individually increase this amount as they wish.

Cyprus also recently announced that it was ready to intervene, if necessary, to protect its banking system and depositors. The Cypriot Finance Minister said however that the banking system is safe and not seriously affected by the current global financial crisis.

FBME Bank Ltd. is one of the major banks in Cyprus and is recommended by Maritime International Ltd.

FBME is a privately owned commercial bank, whose core activities are the provision of commercial payment and trade finance solutions and services to the Bank’s internationally diverse client base, assisting clients in their trade of goods and services, and cross border direct investment activities. The bank has no Investment Banking arm, and as such does not have exposure to activities relating to the trading of, and investment in, stocks, shares, derivatives or other types of investment products nor does it invest indirectly in such activities. As such it has no exposure to the US sub-prime market.

The bank's credit policy is to fund short term borrowing (normally 3 -18 months) in activities related to commercial trading and commercial investment, supported in the majority of cases by 'physical' collateral assets. The Bank is not active in retail mortgage lending activities. The Bank is also in a very healthy liquidity position, with excess liquidity placed in the wholesale interbank money markets with high-rated banks and financial institutions. The Bank has benefited from a number of successive years of healthy profit growth, impressive return on capital, with income derived from a balanced spread of fees, commissions and interest income, with the majority of profits
being re-invested into the organization.

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