Banks must find new products, speed up processing, CB governor says

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Banks must find new products, speed up...
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The biggest challenge for Cypriot banks is finding alternative profitable products beyond lending, central bank (CBC) governor Constantinos Herodotou said on Friday, as he urged lenders to speed up transaction clearing procedures to avoid losing business.

Speaking at an economic forum organised by main opposition party Akel, Herodotou said in small countries like Cyprus, the biggest challenge for banks was profitability, as they had fewer opportunities to find new money-making products.

Lending continued to be the banks’ main product, but they have...


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Banks must find new products, speed up processing, CB governor says


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Article Tags: banks, products, speed, processing, governor,