The recent decisions of the two commercial banks for increases in services are a challenge to the detriment of the Cypriot society, says the Secretary General of AKEL, Stefanos Stefanou in a letter to the Minister of Finance, Konstantinos Petridis.
In the letter that AKEL published, Mr. Stefanou notes that the bank increases “constitute unilateral actions, which take place in a period of great financial uncertainty due to the pandemic” and therefore constitute a “challenge to society.”
He added that “this is a continuation of a series of increases in charges and fees imposed by banks and extend beyond the costs of maintaining and managing accounts to costs related to the management of loans and other basic services and have the effect of increasing the negative financial impact.”
According to the Secretary General of AKEL, “we are particularly saddened by the fact that the phenomenon of continuous increases has intensified after the decisions taken to dissolve the Cooperation, which increases show that the concentration of the banking sector in fewer and larger banks has significantly burdened households and businesses “.
“Based on the above, we consider it imperative that the banking sector be immediately invited to a consultation aimed at the immediate withdrawal of unilateral decisions and the evaluation of future moves in order to avoid similar decisions in the future,” concludes Stefanos Stefanou.
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