cyprus banks — Panicos Nicolaou has been appointed as the new president of the Association of Cyprus Banks (ACB), marking a significant leadership change for the organisation. The announcement came during a recent board meeting held on Thursday, where Nicolaou, who is also the chief executive officer at the Bank of Cyprus, was chosen to lead the association.
- The leadership change comes at a critical time for the financial landscape in Cyprus, as banks navigate various challenges and opportunities in the evolving market.
Joining him in the leadership team is Demetris Shacallis, the chief financial officer at Eurobank, who will serve as vice-president. This new leadership duo is set to steer the ACB for the next two years, in accordance with the organisation’s statutes.
This transition follows the departure of Aristidis Bourakis, the former president, who stepped down to pursue new professional opportunities. The ACB expressed gratitude for Bourakis’s contributions during his tenure and extended their best wishes for his future endeavours.
In their statement, the association conveyed confidence in the newly elected leadership, stating that they are well-positioned to represent and strengthen the banking sector in Cyprus. The ACB is committed to advocating for the interests of its members and enhancing the stability and growth of the banking industry.
The leadership change comes at a critical time for the financial landscape in Cyprus, as banks navigate various challenges and opportunities in the evolving market.
