In his presentation “Credit Risk Management and Best Practices”, Nicos Ioannou will talk about how corporate failures have become more and more common in Cyprus in recent years, following the events leading up to the 2013 financial crisis.
Being such a small economy, the collapse of a large or even a medium-sized enterprise is likely to cause substantial chain reactions in the market. Sound credit risk management therefore plays a pivotal role in an organization’s financial performance and represents one of the most important strategic tools for its sustainability, growth and profitability. It is therefore imperative for Cypriot companies to cultivate a culture of credit risk management which promotes certain procedures for mitigating credit risk.
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