CyprusProfile.com asked cdbbank CEO Costas Argyrides which key areas of opportunity or growth he sees in the banking sector, and what his expectations are for Cyprus in 2019.
The economy is expected to continue to show signs of relatively strong growth coupled with a reduction in unemployment supported by sound fiscal policies, low interest rates and Cyprus’ investment grade standing. The benefits from the consequent recovery of property prices has started to trickle into the local banking sector. The challenge is to structure and promote products that complement traditional deposits, while being able to offer solutions to the corporate sector and individuals alike in a form that avoids repetition of past mistakes. Shipping, tertiary education, medical and value-added tourist services appear to be areas of promise.