Bank of Cyprus
Andreas Eliades, CEO
1. What makes your country attractive to investors?
Investors are attracted by the low corporate tax rate (10%), the well-educated labour force, the highly developed infrastructure and high quality financial, business and other services.
2. What are the economic prospects for your country over the next three to five years?
The economic prospects are very encouraging. A 4% growth is forecast (2006-2008), while compliance to the Maastricht criteria should lead to EMU entry in 2008.
3. How do you foresee the financial sector in your country changing?
Compliance with Basel II and other EU requirements will strengthen the sector, intensify competition and result in rationalisation of co-operative banking.
4. What role will your bank play in your country’s future development?
As the largest commercial bank, it will continue to play the leading role in Cyprus’s economic development through its dynamic expansion abroad and internally through its support of the various sectors of the economy.
