In a statement issued on Wednesday, the IOC expressed the view that the major banks of Cyprus are once again proving to be "greedy and below par".
According to the statement, their debt increases, especially in the difficult socio-economic situation the country is going through, due to the effects of the pandemic and inflation, are provocative and unjustified.
The statement added that the Consumer Workers' Department of the ICOC condemns in the strongest terms these unacceptable practices and calls on the Competition Protection Commission to immediately investigate the possible abuse and exploitation of the oligopolistic status of the Banks and the Minister of Finance and the Governor of the Central Bank to intervene within the framework of the powers granted to them by law to protect the customers of the Banks.
(CNA)
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