Alpha News

OEB Warns Against Emergency Taxes on Bank Profits

Published February 12, 2026, 12:38

The Federation of Employers & Industrialists (OEB) expresses deep concern over the potential imposition of emergency taxes on bank profits, describing it as dangerous and discouraging for investment. The OEB argues that banks have already contributed significantly to public funds and that the imposition of new taxes would undermine investor confidence and jeopardize economic stability. Furthermore, the OEB believes that such actions are contrary to the recommendations of the IMF and the ESM and may negatively affect Cyprus's credit rating. The OEB calls on political forces to abandon these initiatives and recognize the contribution of banks to economic recovery.