USB Bank PLC, originally Yialousa Savings Bank, was established in 1925 in Yialousa, Cyprus. The bank provides an array of banking services and products and has currently a total of 14 branches and 17 ATMs around Cyprus.
In 1974, the bank became supervised by the Central Bank of Cyprus; however, its operations were brought a halt due to the Turkish invasion. The bank resumed its operations in 1990. In 1996, 30% of the bank’s shares were acquired by Universal Life and the bank was renamed Universal Savings Bank Ltd. In 2009, the bank was renamed USB Bank PLC.
In 2010, BLC Bank SAL began to acquire share capital of the bank. BLC Bank SAL is a Lebanese financial institution and a member of the largest banking group in Lebanon, Fransabank. In 2016, BLC Bank SAL had acquired 99.25% of its share capital. In 2017 the bank opened a representative office in Moscow.