CEO’s perspective on Cyprus’ banking sector and the economy

31 Mar, 2016

Ancoria Bank’s CEO, Mr Yiannis Loizou, recently penned an editorial in a special supplement of Cyprus Weekly regarding the Banking Sector. In his comments he mentions the current situation and the challenges of the sector and the economy but also Ancoria Bank’s determination to contribute to the recovery of the banking sector and to offer its support in rebuilding Cyprus’ future.

Particularly he mentions that the Cyprus’ banking sector has undergone a steady recovery since the tumultuous events of 2013, and the initial estimations have been surpassed, offering a more optimistic outlook. However, the Non-Performing Loans (NPLs) persist as a significant hurdle that Cyprus banks must manage diligently. Thus, it’s imperative for the financial institutions to maintain their resilience and adhere to a stringent schedule.

Moreover, Mr Loizou highlights that Ancoria Bank stands ready to contribute to the revitalization of Cyprus’ banking sector and lend its support to the broader task of rebuilding the nation’s future. With a core objective of promoting entrepreneurial spirit and capability across various sectors, the bank aims to play a pivotal role in driving economic success. Staying true its vision to become the most trusted and effective financial partner to its customers, Ancoria Bank is reshaping the landscape of banking. It achieves this by leveraging advanced technology while remaining deeply committed to fostering rewarding relationships and delivering suitable products.

Read the editorial here.