Banks must find new profitable products, CBC Governor says

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Banks must find new profitable products, CBC...
 © KNEWS 2020
The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday.

Addressing an economic forum organized by main opposition party AKEL, Herodotou said that banks of smaller size enjoy have less opportunities to find new profitable products.

Herodotou stressed that lending remains the island’s main product, and urged banks to find new products in view of boosting profitability for proper risk management.

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Banks must find new profitable products, CBC Governor says


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