Yiannis Loizou, Ancoria Bank’s CEO, was interviewed by Nomisma and was asked to give his opinion about the most recent challenge Cyprus banks have to face.
Mr. Loizou talked about the banking sector entering the current crisis in a much stronger position than when it had to face the previous financial crisis and pointed out that the banking system has the potential to support the market, while the state can help by supporting Cyprus\u2019 businesses with guarantees or other means. Regarding the measures taken by the state to help businesses from the effects of the pandemic, Mr. Loizou said that the loan repayment suspensions, despite their positive effects, they create increased uncertainty on evaluating the repayment ability, which is prolonged and impacts further lending. He emphasized, however, that Ancoria Bank’s policy is to stand by its customers by evaluating their financial data and providing appropriate solutions.
You can view the interview on pages 62-63 in this link (https://www.fmw.com.cy/2020/06/16/%ce%bd%cf%8c%ce%bc%ce%b9%cf%83%ce%bc%ce%b1-%ce%b9%ce%bf%cf%8d%ce%bd%ce%b9%ce%bf%cf%82-2020/)