Banks need to find new business model to adapt to new era, Cyprus Central Bank Governor says

Banks need to find a new business model to adapt to the new era, Cyprus Central Bank Governor Constantinos Herodotou has said.

Herodotou, who was addressing the online 8th Banking Forum & FinTech Expo on Friday, referred to measures taken by the ECB to curb the impact of the pandemic on the eurozone banking system, the steps taken on a national level and of the prospects and challenges ahead.

Referring to the situation in Cyprus he said banks “continue to face challenges,” adding that we can look at those as structural and cyclical.

Source: Cyprus News Agency