By Stelios Orphanides
Ancoria Bank has launched operations with a total of two banking branches, one in Nicosia and another in Limassol, a total staff of 60 and an initial capital of €50m, the lender’s chief executive officer said.
The goal of Ancoria, the first bank to obtain a banking licence from the Central Bank of Cyprus following the 2013 banking crisis, is to create a modern and flexible financial organisation with a new culture, approach and relation to its customers, CEO Ioannis Loizou said according to a statement emailed by the bank said.
The bank, which plans to set up another banking centre in Larnaca will “jointly determine the customers’ needs and offer them the suitable solutions,” Loizou was quoted as saying. The bank already offers products to finance companies and private customers, mortgages, student loans, car loans and other consumer loans.
Loizou added that the bank will pay a lot of attention to corporate governance and transparency, the use of technology and innovation.
Evgenia Christodoulou, deputy CEO and business development manager at the lender, said that the bank will redefine banking practices by respecting customers and their companies and prioritising service to them.