[INSIGHT] CyprusProfile.com asked Association of Cyprus Banks (ACB) Director General Michael Kammas which key areas of opportunity or growth he sees in the banking sector, and what his expectations are for Cyprus in 2017.
"Local banks have adjusted to a new legal, supervisory and regulatory framework. Most importantly, banks have successfully been restructured and recapitalised, and have attracted significant foreign investors. The gradual recovery of deposits signals a return of confidence in the banking sector. As for future opportunities, sectors like shipping, education, health, tourism and even the dynamic area of start-ups, are becoming industries that can boost Cyprus’ economy in the upcoming years, and the banking sector stands ready to support relevant initiatives".