Association of Cyprus Banks reaffirms the sustainable course of the Cypriot banking system during US visit

An Association of Cyprus Banks representation is currently in Washington, USA for a series of important contacts with the political and business American leadership.

It is understood that the meetings are taking place in an extremely positive climate.

The delegation consists of the heads of the Compliance department of the four largest banking institutions in Cyprus (Bank of Cyprus, Hellenic Bank, Eurobank Cyprus and Astrobank) and the meetings are taking place at a stage where the relations and cooperation of Cypriot banks with the US authorities are at their best point ever.

This positive collaboration succeeded following significant struggles and a series of very tough and effective measures implemented by the banks both for the sake of their survival and to improve Cyprus’ reputation.

Representing this delegation, Marios Skandalis, Chief Compliance Officer at Bank of Cyprus mentioned that Cyprus owes a lot to its banking sector since it is the undisputed success story of Cyprus that managed not only to survive and upgrade the sector after the unprecedented crisis of 2013, but to turn this unique transformation into the catalyst for improving the overall image and reputation of our country in the international arena.

The delegation will continue to have various meetings with members of Congress, the Senate and various US government departments such as Finance, Foreign Affairs, Trade and Justice.

In addition, meetings are being held with the senior management of US banks already cooperating with Cypriot banks.

Details of the current functioning of the Cyprus banking system and the ways in which the various geopolitical and other challenges are being successfully addressed are being discussed during all the meetings taking place.

All the United States officials involved in the meetings are said to have expressed their satisfaction with the honest and transparent cooperation that currently exists with the Cypriot banking sector and declared their undivided support for it as a reliable ally.

Additionally, all the involved agencies have reported that this ongoing sharing of information and making contact must be continued and further strengthened.