European Central Bank withdraws RCB’s banking licence
The European Central Bank (ECB) on Thursday said it has withdrawn the banking licence of Cyprus’ RCB Bank Ltd. The decision follows the orderly completion of the bank’s voluntary ...
RCB Bank formally relinquishes licence
RCB Bank announced on Monday it will relinquish its banking licence – a formality completing the lender’s transformation into an asset management company.
The decision was taken by the bank’...
Was closure of RCB as a bank avoidable?
The ‘controlled resolution’ of RCB in the wake of the Ukraine crisis is a minor bump in the road compared to the 2013 crisis, but one expert says it could have ...
Uncertain future for most of RCB’s 370 employees
Although most of the 370 employees of RCB bank are set to be made redundant once its transformation into an asset management company is completed, there is uncertainty about when and ...
The end, and the beginning of a new era for RCB
By Yiannis Seitanides
RCB Bank’s coordinated exit from the financial markets has entered the final stretch, with the supervisory authorities in Nicosia and Frankfurt managing a situation that could ...
RCB to close its banking operations in shift towards asset management
RCB Bank on Thursday announced that it will cease operating as a bank and would become an asset management company.
The bank cited the “ongoing and extremely volatile geopolitical situation” ...
Uncertainty forced sale of RCB loan portfolio
The €556 million loan portfolio sale by RCB Bank to Hellenic Bank on Tuesday served to fulfil a dual purpose – bolstering the latter bank’s portfolio with high-quality assets, while at ...
RCB sells big loan portfolio to Hellenic Bank
RCB Bank on Tuesday announced that it has agreed to the sale of a performing loan portfolio to Hellenic Bank, including any related funds on the accounts belonging to the ...
S&P downgrades RCB because of sanctions (updated)
Rating agency Standard & Poor’s on Thursday downgraded RCB Bank’s long-term issuer rating from BB- to B+ and placed the bank on negative watch, citing the lack of ...
Change in the shareholding structure of RCB Bank Ltd
RCB Bank announces a change in its shareholding structure. On February 24 2022, a 46.29 per cent stake in the share capital of RCB Bank held by VTB Bank (PJSC) was acquired by ...
RCB Bank becomes Cypriot-owned after Russian stakeholder transfers shares
Russian state-owned VTB Bank (PJSC) has transferred all its shares in RCB Bank to Cypriot shareholders, making RCB a 100 per cent Cypriot-owned bank.
VTB transferred to the Cypriot shareholders the 46.29 ...
Latest EU stress tests show Cyprus banks resilient
The European Central Bank (ECB) has published the results of the 2021 stress tests, which show that the euro area banking system is resilient to adverse economic developments.
The 89 banks covered ...