A special Association of Cyprus Banks event, which focused on the significant progress of the Cypriot economy and the domestic financial sector, was completed with absolute success and high participation, the Association notes.
According to an announcement, the event attracted the interest of a large number of professionals, executives from competent authorities, regulatory bodies, the Central Bank, as well as members of permanent diplomatic missions of foreign countries.
The opening speech at the event was given by the Director General of the Association, Marios Skandalis, who referred to the most important milestones achieved in recent years, underlining the steady course of recovery and the new dynamics of the market, which in most criteria exceeds the average performance of the European Union.
Afterwards, Dr Charis Pouangare, Deputy CEO at Bank of Cyprus, presented the current state of the Cypriot economy. Pouangare analysed the macroeconomic data, while focusing on current trends, digitalisation and the changing needs of customers that shape the modern banking environment.
Particularly informative was the intervention of Haris Hambakis, Deputy CEO of Eurobank, who mapped out the new landscape of the banking sector through 10 key conclusions. Hambakis emphasised the importance of strong capital buffers, flexibility and the need for simpler structures in a changing global environment.
Finally, Miltos Michaelas, CEO of Alpha Bank Cyprus, dedicated his presentation to the challenges but also to the great opportunities that are emerging for Cypriot banks. In an era of geopolitical instability and rapid technological developments, Michaelas pointed out that the strong foundations of the sector and investment in innovation are the “keys” for the protection and sustainable development of the real economy.
Contacts with institutions in Brussels
Following the presentation to Bloomberg, during the second leg of the mission to Brussels, the Association of Cyprus Banks held a series of contacts at the European Parliament with MEPs, as well as with executives from Brussels-based offices of political figures. At the same time, substantive meetings were held with technocrats from the European Commission, who directly handle critical issues of the economy, banks and the regulatory framework that governs their operation.
Commenting on the results of the Association's presence in the European capital, the Director General, Marios Skandalis, emphasised, "Our mission in Brussels cannot be considered successful if there is no continuation of the excellent course that will also confirm the sustainability of the sector. On the basis of the excellent presentations, the excellent comments, the positive air that the Cypriot economy and our banks exude in the heart of Europe, but also on the particularly productive contacts we had with senior political figures and technocrats, we must build further effective actions.
As a sector, we have gained a lot in recent years, achieving milestones that are completely identical to the corresponding successes of our national economy. Our Cyprus, with our banking sector as a pioneer and worthy ambassador, has passed, with objective criteria and with the confirmation of the Authorities and international rating agencies, into the elite of the European economic scene. With these strong data as resources, and through the close cooperation of all forces in Cyprus, we will move forward with the aim of further strengthening ourselves for the benefit of society and the businesses of our country."
Acknowledgements and foundations for the future
In its announcement, the Association of Cyprus Banks expressed its warm and special thanks to the offices of the Cypriot MEPs for the cooperation and the meetings that took place.
Furthermore, warm thanks were expressed to the Cypriot Government and the Ministry of Foreign Affairs, through which the important contact with the international organisation Bloomberg was achieved, as well as to the Press and Information Office (PIO) and the Permanent Representation of Cyprus in Brussels for their significant and continuous assistance in identifying and inviting Brussels-based executives.
(Source: InBusinessNews)
