In Cyprus, 986 individuals and legal entities checked their credit scoring data in two months
In Cyprus, 986 individuals and legal entities used the new credit scoring system during its first two months of operation, gaining access to their own data. The Credit Score system began generating creditworthiness assessments on July 15, 2026, as part of an update to the Artemis data-sharing mechanism.
As Cyprus Mail reports, Artemis Credit Bureau General Manager Yannis Thomasides described the system’s implementation and operation as successful. According to him, the project is important infrastructure for Cyprus’s financial sector and economy.
How Credit Score is calculated
Credit Score is a numerical indicator determined on the basis of data on a borrower’s credit behavior contained in the Artemis data-sharing mechanism. The indicator places the borrower on a creditworthiness scale and assesses the likelihood of the borrower failing to meet financial obligations over the next 12 months.
The score is available to participants in the Artemis mechanism, including banks, credit servicing companies and leasing companies. Borrowers can also find out their Credit Score by contacting the public service office of Artemis Credit Bureau.
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At the same time, the indicator itself does not determine whether a loan will be granted. A financial institution assesses it together with other internal information about the borrower and independently makes a decision within its own risk management policy.
Data and the role for borrowers
Credit Score is part of a credit report that lists a borrower’s credit obligations. For transparency, the score is accompanied by the three main factors used in its calculation, which are related to the credit report data. Scores are generated for primary borrowers, both individuals and legal entities. Those acting only as guarantors for third-party loans do not receive a Credit Score, although such guarantees are taken into account in the borrower’s overall credit burden.
According to Thomasides, the system was developed in compliance with the requirements of the EU General Data Protection Regulation (GDPR). The legislative and regulatory framework was prepared by Cyprus’s Ministry of Finance, the Central Bank of Cyprus and the office of the Commissioner for Personal Data Protection. The head of Artemis Credit Bureau also said that the scoring system should become an additional risk assessment tool for financial institutions and help borrowers better understand their own credit profile.
