Co-operative Societies: Growth and Crisis

Kate Phylaktis

Chapter 6 in The Banking System of Cyprus, 1995, pp 105-119 from Palgrave Macmillan

Abstract: Abstract Co-operation in post-independent Cyprus gathered momentum in a similar fashion to the commercial banking sector. The expanding economy, which provided, on the one hand, the demand for loans and, on the other, the increase in savings, together with the realisation of the benefits of co-operation have been behind the spreading of co-operation throughout the island and in all forms of agriculture and related sectors. Unlike the smooth development of the banking sector, however, the cooperative movement suffered setbacks during this period, which it survived only with the Government’s financial support. Not only did it suffer severely from the Turkish invasion, but most seriously, it became subject to malpractice.

Keywords: Commercial Bank; Operative Society; Saving Bank; Liquidity Ratio; Unlimited Liability (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12868-6_6

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DOI: 10.1007/978-1-349-12868-6_6

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