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The President of the Republic Mr. Nicos Christodoulides received today, at the Presidential Palace, a delegation of the Association of Banks.
After the meeting, the Director of the Press Office of the President of the Republic Mr: "it was a useful and productive meeting with the Association of Banks.
The President of the Republic exchanged views with them on how our banking system can be stronger, more reliable for the benefit of the country's development, the economy and attracting investment. A strong and reliable financial system can give our country a lot of benefits.
Leaps have been made in recent years, many efforts have been made, and the Government believes that even in the present circumstances the reliability of our financial system is the be-all and end-all for attracting investment, for economic growth, always with social sensitivity in mind."
He added that the Government welcomes the fact that banks have responded to the Finance Minister's call to absorb part of the increase in lending rates for consistent borrowers and also to increase deposit rates.
Asked about the issue of divestments, Papadopoulos said: "we believe that vulnerable borrowers, vulnerable households should be preserved and we have made a lot of efforts in this direction. There are already many programmes such as 'Hestia', 'Home', 'Rent for Rent', but also the issue of the Special Court. Beyond that, the framework must enable the banks to be able to receive what borrowers, especially defaulters, owe. Within such a balanced framework, I believe that we are ensuring a sound financial system. This is the Government's intention, and within days there will be a new plan that will be passed by the Cabinet" on the issue of first home protection for vulnerable groups.
(PM/MB/SX)
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