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Expanding Automated Banking Access In Remote And Challenging Communities

by THEFUTURE.TEAM

February 27, 2026

Robust Deployment Exceeds Initial Projections

Updated data reveals that the number of automated teller machines deployed in remote, mountainous, and challenging communities has grown from the initially planned 11 to 19. This expansion underscores a renewed commitment by governmental bodies, local banks, and JCC Payment Systems to enhance financial access and service delivery in regions that have long been underserved.

Strategic Placement To Serve A Wide Range Of Communities

Since May 2025, a total of 17 ATMs have already been installed in strategically selected locations including Lythrodonta, Xylotymbou, Salamiou, Frena, Eptagonia, Astrameriti (Hyper-AlphaMega), Peleri, Pissouri, Parekklisia, Argaka, Kaló Chorio Lemasou, Kivides, Panagia, as well as additional installations in Pachna, Trimiklini, Pedoulas and Palaihokhori. The anticipated deployment at the Monastery of Kykkos and in the community of Avgorou is expected to further extend these crucial financial services to areas comprising multiple villages and hosting thousands of visitors.

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Collaborative Initiative Redefining Regional Financial Services

This initiative was conceptualized by the government in partnership with leading banks and JCC Payment Systems to address the gap left by closures of branch offices in rural and mountainous regions. Several ATMs have been installed in community authority buildings, where robust connectivity and security protocols ensure that consumers can access essential financial services without interruption. Furthermore, the banks and JCC have assumed responsibility for the installation, management, and operational costs, ensuring that there is no fee for retirees using these services.

Broader Impact On Cyprus’ Financial Infrastructure

According to the Central Bank’s latest report, the overall number of ATMs in Cyprus increased from 397 at the close of the first half of 2024 to 405 by the end of the first half of 2025. This growth is primarily driven by new installations in remote and mountainous areas, a move that significantly facilitates cash access for residents. Moreover, approximately 72% of ATMs now support contactless card transactions, aligning Cyprus’ financial services with modern global standards.

Emerging Trends: Enhanced Cash Retrieval Options

In addition to traditional ATM services, new cash retrieval channels such as cashback at point-of-sale locations are gaining traction in the Cypriot market. While ATMs remain the predominant method for cash withdrawals, this trend represents a shift toward more diverse and flexible banking solutions, further cementing the nation’s commitment to consumer convenience and financial inclusion.

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Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

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Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.