According to a press release, Zimarin, who has been president of the association since 2008, will continue to chair the association for the next two years.

Referring to the latest developments in the economy, Zimarin said he was pleased that the Cyprus economy recorded growth, noting at the same time the remaining challenges such as the ever-changing regulatory environment, the sanctions imposed and the issue of non-performing loans (NPLs).

“But overall we share the assessment of both the Cyprus government and international institutions that there has been a remarkable recovery. Financial stability is one key condition for our sector to be able to operate optimally and therefore we welcome steps in that direction,” he added.

With regards to the multifaceted work conducted within the past years, Zimarin reiterated the association’s commitment to support the interests of its members.

The Association of International Banks was established in Limassol in 2002, with the aim of representing the interests of international banks in Cyprus. Since its inception, the association, which has 20 member-banks, has played a leading role in issues affecting the international banking sector.

Source: Cyprus Mail