Cypriot banking sector

Assessing the current state of the Cypriot banking sector, one could say that 2018 was a year that substantial progress has been achieved yet still some major problems remain. Maybe the manner that this progress has been achieved was not as expected, but objectively looking the banking system is more resilient, strong, and solid now than at the beginning of the year. Undoubtedly, the shutting down of the state-owned Cooperative Central Bank (CCB) last summer was probably the highlight of the year. After a history of almost 100 years, its license to operate as a commercial bank was withdrawn at [...]