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President and Central Bank Governor agree that Cypriot banking system is resilient

21/03/2023 09:51

President of the Republic, Nikos Christodoulides and Governor of the Central Bank, Constantinos Herodotou, agreed that the banking system in Cyprus is resilient. They also expressed their satisfaction with the actions taken by the Swiss authorities to ensure global financial stability following developments with Credit Suisse bank.

An announcement from the Presidency says that the two men met Monday and decided that they will be meeting on a regular basis to exchange views.

Today they discussed the current international developments in the banking sector. As regards Cyprus banks the common understanding was that the Cypriot banking system is resilient and able to continue supporting the real economy, according to the announcement.

Cypriot banks today have significant capital adequacy and liquidity and this is also due to the prudent policy and the successful management of the various important challenges in the sector in recent years, the announcement of the Presidency reads.