Alpha Bank CEO calls for banks to act as partners towards new economic model

Alpha Bank Cyprus took part as a platinum sponsor of the 16th Nicosia Economic Congress, reaffirming its active role in supporting economic dialogue in Cyprus.

The event was held on Wednesday at the Landmark Hotel in Nicosia, bringing together political leaders, business representatives and investors to discuss the country’s economic outlook.

“The Nicosia Economic Congress has long been regarded as a key platform for dialogue on the Cypriot economy, providing a space for discussions on investment, growth prospects and national priorities,” the bank said in a statement on Thursday.

“Against a backdrop of increasing geopolitical tensions and energy market volatility, the congress highlighted the importance of resilience, stability and strategic direction for Cyprus’ economy,” it added.

As part of the event, Alpha Bank Cyprus CEO Miltiades Michaelas participated in a high-level roundtable discussion alongside Nikos Christodoulides and other business leaders.

The discussion focused on critical issues shaping Cyprus’ economic future, including the conditions required for sustainable growth, productivity enhancement and the challenges facing the business community.

It also addressed the need for stronger cooperation between the state and the private sector, as well as the impact of political instability and developments in the Middle East on economic activity.

During the discussion, the president Nikos Christodoulides emphasised that stability, normality and security are central priorities for the coming period, reflecting the expectations of both citizens and businesses.

He added that Cyprus has demonstrated notable resilience despite successive external challenges and heightened regional uncertainty, maintaining a stable environment for the economy and households.

“Despite successive external challenges and increased regional uncertainty, Cyprus has demonstrated remarkable resilience, maintaining a stable environment for the economy and households,” he said.

“The positive macroeconomic performance of the country, supported by prudent economic management, strengthens Cyprus’ ability to plan the next day with greater confidence,” he added.

From his side, Michaelas stressed that Cyprus’ banking sector remains robust, supported by strong capital buffers and disciplined risk practices.

“The banking sector continues to demonstrate resilience, strong capital adequacy and disciplined risk management,” he said.

He indicated that ensuring uninterrupted access to financing is critical, particularly in uncertain conditions where liquidity supports economic continuity.

“In a context full of uncertainties, maintaining continuity in financing and financial services is a fundamental prerequisite for supporting the real economy,” he said.

He further argued that Cyprus must keep its investment focus on sectors that generate sustainable growth and strengthen the productive base, enhancing long-term value creation.

At the same time, he described a broader role for banks as strategic partners, supporting the transition towards a more outward-looking and productive economic model.

“Banks can play a broader and more meaningful role, not only as providers of financing, but also as strategic partners in the transition to a more modern, productive and outward-looking economic model,” he said.

He added that collaboration with the state can help channel advisory support towards investments with a tangible development impact, reinforcing economic transformation.

“The bank’s presence at the congress reflects its ongoing commitment to contributing to discussions that shape Cyprus’ economic trajectory, while supporting a stable, resilient and competitive environment,” the statement concluded.