NPL is­sue must be re­solved, say int’l bankers

Financial Mirror (Cyprus) - - FRONT PAGE -

“In or­der to fur­ther in­crease the in­vest­ment at­trac­tive­ness of Cyprus, the is­sue of NPLs must be re­solved,” Dr. Kir­ill Zi­marin, CEO of RCB Bank and Pres­i­dent of the As­so­ci­a­tion of In­ter­na­tional Banks in Cyprus told the bankers’ an­nual meet­ing.

“This will en­able for the de­vel­op­ment of new per­spec­tives for the Cypriot bank­ing sec­tor,” Zi­marin added, ex­plain­ing that the as­so­ci­a­tion, that groups to­gether 24 banks aims to rep­re­sent and pro­tect the in­ter­ests of in­ter­na­tional banks in Cyprus.

In his speech, Zi­marin un­der­lined the mul­ti­fac­eted work con­ducted by the AIB over the past year and noted that “the As­so­ci­a­tion has es­tab­lished it­self as a cred­i­ble and con­struc­tive pro­fes­sional body not only in Cyprus but also abroad. It is ac­tive in pro­mot­ing the in­ter­ests of its mem­bers and the Cypriot bank­ing sec­tor at Euro­pean and In­ter­na­tional level”.

Present at the 13th an­nual gen­eral meet­ing of the AIB that took place in Li­mas­sol on Fri­day, was Fi­nance Min­is­ter Har­ris Ge­or­giades who ap­plauded the as­so­ci­a­tion for its con­struc­tive role in the Cyprus econ­omy and thanked its mem­bers for the trust they have placed in Cyprus.

Also present at the AGM were the Gov­er­nor of the Cen­tral Bank of Cyprus, Chrys­talla Ge­orghadji, rep­re­sen­ta­tives of the diplo­matic corps, Mem­bers of Par­lia­ment and the Fi­nan­cial Om­buds­man.

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