The CEO of the National Bank of Greece (Cyprus) underlined their readiness to finance major developments
Despite the fact that the banking sector in Cyprus is experiencing significant progress having created reserves to deal with both internal and external challenges, there can be no complacency due to the ongoing situation in Ukraine, neighboring Israel and the Middle East, emphasized the CEO of the National Bank of Greece (Cyprus) Giorgos Ayutantis.
In a speech at the 11th Banking Forum & Fintech EXPO, Mr. Ayutantis made an extensive reference to the need for digital transformation of the financial sector in order to offer more and improved digital solutions to customers, highlighting the comparative advantages of the National Bank of Greece (Cyprus) through its upgraded digital channels.
The future of banking
Speaking about the future of the banking sector in Cyprus, he mentioned the role of artificial intelligence in automating the services they offer, the discussions taking place on the adoption of digital currency by the ECB and the European Banking Authority and the implementation of ESG policies that will lead to a sustainable and “green” economy. He also highlighted the importance of cyber security to protect against cyber-attacks and customer data breaches.
Regarding other challenges that Cypriot banks will face, he underlined the need to remain flexible in dealing with inflation and to adapt to the new regulatory changes in the sector.
The plans of the National Bank of Greece (Cyprus)
In relation to the plans of the National Bank of Greece (Cyprus) in 2024, he said that having completed an extensive reorganization plan, the bank is dynamically entering new phase of development having as an advantage the fact that it is a member of the National Bank Group, one of the leading banking organizations in Europe.
Finally, he expressed their readiness to finance major investments in Cyprus emphasizing the energy sectors (mainly RES), tourism and construction, putting their little stone in the effort of sustainable development of the country's economy.
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