Miltos Michaelas: Rapid adaptability ensured the Cyprus economy's success

07:02 - 17 January 2025

Financial Services

Rapid adaptability is the cornerstone of the Cyprus economy’s success; but much remains to be done, according to Miltos Michaelas, CEO of Alpha Bank Cyprus.

Speaking at the 12th Banking Forum & FinTech Expo, hosted by Logicom Solutions, he highlighted the importance of attracting foreign investments as a catalyst for further growth.

We are currently living in an era of rapid changes, said Michaelas, with everything around us evolving at great speed. And so if you take the wrong turn, you cannot see your strategy through, he noted, stressing the need to adapt to future needs.

Michaelas also pointed to the expanded responsibilities of banks, explaining that they now function not only as financial institutions but also as "compliance offices", addressing the diverse needs of their clients.

He gave special attention to risks arising from digital issues, emphasising the continuously evolving skillset required in this area. Ten years from now, said Michaelas, the skills required will be entirely different, so he underscored the need for ongoing evolution and adaptability.

Commenting on Cyprus’ success, Michaelas noted that rapid adaptability has been a decisive factor. However, he stressed that if the country aims to establish itself as an international player, further steps are necessary.

The economy is growing, he said, but it would be useful to reflect on how the country wants to position itself in the coming years and how it will achieve that.

Miltos Michaelas: Rapid adaptability ensured the Cyprus economy's success

News Feed

Read More