The highly successful 13th Annual General Meeting of the Association of International Banks took place in Limassol in December. Honouring the event with their presence were, among others, the Minister of Finance and the Governor of the Central Bank.
In his report before the Annual General Meeting, Association President Kirill Zimarin referred to the state of the Cyprus economy and hailed the improvement observed since the events of March 2013, while pointing out, at the same time, the challenges that still need confronting, not least of which is the problem of non-performing loans. He noted, moreover, that the Association members have confidence in the future of the Cyprus economy. The Association, he added, has had excellent cooperation with the Cyprus authorities in its bid to effect solutions to the issues of concern to the international banking sector.
Mr. Zimarin also made extensive reference to the activities and initiatives undertaken by the Association on behalf of its members throughout 2015, through meetings with government and other departments, educational seminars and other events and, not least, through its active participation in meetings of the House of Representatives, the Central Bank and others. The Association, Mr. Zimarin continued, has established itself as a credible and constructive professional body, not only in Cyprus but abroad too.
Prior to Mr.Zimarin’s report, the Annual General Meeting was addressed by the Minister of Finance, Harris Georgiades, and the Governor of the Central Bank, Chrystalla Georghadji. Aside from their references to the state of the Cyprus economy, they both hailed the presence in Cyprus of a significant number of international banks, as well as the very constructive role played by the Association in support of its members and the international banking sector in general. The presence of international banks in Cyprus, they stressed, in addition to its direct and multi-faceted contribution to the economy, also represents an international vote of confidence in the Cyprus economy.
The Association of International Banks (Cyprus), which comprises 24 Cyprus-based financial institutions, was set up in 2002 and has been a member of the Limassol Chamber, ever since. The Limassol Chamber has provided administrative support to the Association from the day of its inception.
In the photo, Association President Kirill Zimarin welcomes Finance Minister Harris Georgiades to the hall of the Annual General Meeting.
