The Importance of Profitability for the Economy According to Panikos Nikolaou
December 28, 2025
Panikos Nikolaou, the CEO of the Bank of Cyprus, emphasizes the importance of profitability for the economy. He argues that a lack of profits could negatively affect lending and investor confidence. He discusses the proposed AKEL legislation for a solidarity tax on credit institutions, highlighting the need for objective discussion. Additionally, he addresses the impact of Artificial Intelligence on banking services. Nikolaou notes that innovation in the sector will require new skills from employees.