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After two decades at the helm, Michalis Kammas will step down as general manager of the Cyprus Banking Association by the end of the year, opening the door for a new face to lead the country’s powerful banking lobby.
According to Kathimerini's Panayiotis Rougalas, the race to succeed him is now in its final stretch, with four candidates in the running. Kyriakos Iordanou has led the Cyprus Institute of Certified Public Accountants since 2012 and has years of experience as a financial manager and internal auditor. Yiannis Koukoularidis, once a senior figure at the Cooperative Central Bank, is today the general manager of the Nicosia Sewerage Board. Michalis Kronidis, a veteran banker at home and abroad, has spent nearly two decades inside the Association itself, handling regulatory and risk issues. Marios Skandalis, compliance director at Bank of Cyprus, also chairs the Cyprus Integrity Forum and has previously headed the accountants’ institute.
A fifth contender, a former political official, had also entered the race but withdrew early in the process. A final decision is expected by late September 2025.
The shake-up won’t end there. The Association’s chairmanship will also change, as AstroBank’s former CEO Aristides Vourakis has moved to Greece following the bank’s takeover. Likely successors are Eurobank Cyprus CEO Michalis Louis and Bank of Cyprus CEO Panikos Nikolaou.
Founded in 1969, the Cyprus Banking Association has grown into the main voice of the island’s financial sector, representing member banks locally and in European and international forums. Its next leadership team will inherit the task of steering the industry through regulatory pressures and economic uncertainty.
