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Moody’s confirms RCB Bank’s stable financial position

RCB Bank Dasoupolis Nicosia Branch. RCB’s executives told the Cyprus Mail: "We have stood by our clients throughout the pandemic, and continue to do so"

Moody’s on Friday published an updated credit analysis report on RCB, where it confirms the bank’s stable financial position in terms of capital and liquidity.

According to an RCB statement, “the bank’s rating has long term deposit ratings at B1 level with stable outlook – the highest rating among Cypriot banks, despite the rating agency’s prediction that the Cyprus economy will contract due to the Covid-19 pandemic.”

The agency’s report also highlighted the bank’s efforts to grow its domestic and international business, “a strategy that has already been baring fruit as indicated by the latest financial results which have been consistently positive over the past years.”

“This is another confirmation of RCB Bank’s stable financial position in terms of capital and liquidity,” said Kirill Zimarin, CEO of RCB Bank.

“This consistency in ratings and profitability enable us to support our clients during these trying times but also to continue implementing our strategy for further development in Cyprus and beyond”.

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