[insight] CyprusProfile.com asked George Spyrides, Acting CEO of Cyprus Development Bank, which key areas of opportunity or growth he sees in the banking sector, and what his expectations are for Cyprus in 2017.
"With residual issues from the crisis and regulatory changes keeping the banks on their toes, new challenges are emerging in the sector and new approaches to banking are necessary. The digitisation of banking will streamline processes, improve customer experience and operational efficiency and enhance regulatory compliance. A change of sentiment in the market is noticeable in sectors such as tourism, services, education, health, wholesale and retail and green/clean energy, which signals the improvement of the business climate. The flourishing tourism industry that is spearheading Cyprus’ economic development will undoubtedly offer great investment opportunities to other economic sectors as well. Cdb bank, being a small and flexible corporate bank, aims to support the investment initiatives required for the sustainable growth of the Cyprus’ economy".