“Entrepreneurship is being called upon to lead the transition towards a more sustainable, resilient and innovative future,” said Xenios Konomis, Director of Corporate and SME Banking Division, Bank of Cyprus, beginning his introductory speech at the 9th Business Leaders Summit held in Nicosia.
In his address, Konomis referred to the major changes taking place in the global economic and business environment, underlining that geopolitical balances, the energy crisis, artificial intelligence and the green transition are creating a new landscape of challenges and opportunities. As he noted, “the new world order is characterised by multipolarity” emphasising that “there is no longer a single decision-making centre”. According to Konomis, strategic thinking, international orientation and social responsibility are of utmost importance for businesses.
The Director of the Bank of Cyprus' Corporate and SME Banking Division pointed out that the Greek and Cypriot economies are at a critical crossroads, facing challenges such as geopolitical instability, market fluctuations and changes in the labour market. At the same time, however, significant prospects are opening up: strengthening the digital economy, attracting investments in high-value-added sectors and developing start-up entrepreneurship.
The role of the Bank of Cyprus
"At Bank of Cyprus, we have long recognised this new order of things. We have adapted and, accordingly, we are directing our customers to prepare and stand out in this new setting," Konomis noted.
The Bank of Cyprus, with strong liquidity and capital adequacy, continues to play a leading role in financing investments in critical sectors of the economy such as tourism, trade, construction, industry, energy, technology, health and education.
During the first half of 2025, the Bank of Cyprus granted approximately €1.6 billion in new loans, of which €815 million concerned the business sector, "demonstrating in practice that we trust your vision for growth," Konomis stated.
At the same time, he referred to the Bank's digital strategy, presenting innovative services such as the digital mortgage loan with instant decision, Fleksy (Buy Now Pay Later), Joey (banking application for teenagers) and the Jinius B2C Marketplace, which already has 232 retailers and over 355,000 products.
Leadership and collaboration for the future
Konomis underlined that Greece and Cyprus have all the resources to play a leading role in the new era: high-quality human resources, strategic geographical location and strong entrepreneurial spirit. “What is needed is cooperation, vision and continuous adaptation,” he noted.
The Business Leaders Summit was presented by the Bank of Cyprus.
(Source: InBusinessNews)
