RCB Bank Ltd: Banking you can trust

Banking & Finance
| The European | 27th January 2016
President of the Republic of Cyprus Nicos Anastasiades

President of the Republic of Cyprus Nicos Anastasiades

Founded in 1995, RCB Bank Ltd is one of the largest financial institutions in Cyprus and a significant EU bank. The bank offers corporate, investment and retail products and services to clients from approximately 50 countries. RCB is a private financial institution and the second largest bank by total assets in Cyprus. Its headquarters are in Limassol with branches in Nicosia, Limassol, Luxembourg and representative offices in Moscow and London.

With over 20 years of expert experience, RCB Bank has earned a reputation as a financially stable and reliable bank. RCB Bank offers a wide range of everyday banking products and services as well as tailored investment solutions and aspires to establish long-term strategic partnerships with its clients. Trust and a client-oriented approach, coupled with a first class service are the cornerstones of the bank’s success and the driving forces for its growth.

During a 20th anniversary gala event at the Presidential Palace of Cyprus, in the presence of His Excellency the President of the Republic of Cyprus Nicos Anastasiades, the First Lady, ministers, the Governor of the Central Bank of Cyprus and other officials, Kirill Zimarin, CEO of RCB Bank noted: “Twenty years since our founding, we stand proud of our sound and profitable results and also for securing our clients’ best interests, for our expansion in the Cyprus market, for coming closer to our clients with our new branches and for servicing clients from more than 50 countries”. During the event, 10 charities were supported by RCB Bank, with 10,000 euros donated to each. Handing the cheques to the representative of each charity, Mr Zimarin underlined that: “There is no greater way to celebrate two decades of history in Cyprus than to support 10 of the most prominent charity organisations”. It was during the event that RCB Bank was awarded as the Best Bank in Cyprus as part of the Global Banking & Finance Awards by this magazine.

Durable business model Operational excellence, an integrated approach to risk management and a strong capital base form the basis of the bank’s financial stability. The effectiveness of the bank’s business model was confirmed recently, when RCB successfully passed an asset quality review and stress tests conducted by the European Central Bank. These tests show that the bank’s Common Equity Tier 1 ratio in the adverse scenario is more than twice the minimum requirements. RCB was categorised as a significant EU bank and was included in the list of banks under direct supervision of the ECB through the Single Supervisory Mechanist (SSM). It is due to this solid business model, its outstanding results and leading position that the Cyprus Investment Promotion Agency (CIPA) awarded RCB Bank Ltd with the prestigious CIPA International Investment Award. RCB Bank was also awarded the CIBA 2015 Business Award for Excellence by the Cyprus International Business Association.

RCB delivers a first class service and complex solutions to its corporate and individual clients, both on the local and international market. The bank is currently expanding its operations in the Cypriot market and has become “the everyday bank of choice” for many local corporate and individual clients. RCB Bank designed a lending programme tailored to the needs of Cypriot companies thus helping them to execute investment projects and, in turn, strengthen the economy of Cyprus. In the meantime, RCB continues to implement its growth strategy by opening new branches and expending its product line and services.

As one of the largest banks in Cyprus, RCB meets the standards of service required by international clients from across the world, including holding companies and their subsidiaries. This is achieved through modern technology solutions and a wide partner network for any type of transaction services, broad experience in financing international investment projects and through its international network of branches and offices in Cyprus, Luxembourg, Russia and the United Kingdom.

RCB Bank’s corporate governance system meets international standards and the regulatory requirements of the European Union and the Republic of Cyprus. The bank’s board of directors has a majority of independent directors and is governed by international corporate governance principles. This includes an assessment of business strategy and risk management, independence in decision making. It also encompasses evaluating the effectiveness of the bank’s operational model and comprehensive quality control over RCB’s business activities maintaining four committees for a more effective execution of both management and control functions.

RCB Bank’s genuine care for society led to the design of a multifaceted corporate social responsibility programme that supports an array of charity organisations, arts and culture, health services, sports, environmental protection and many other worthy causes. After 20 years of fruitful presence in Cyprus, RCB shares a common vision for the future with the local community and strives to make it a better one. Encouraging cross-cultural ties is another axis RCB invests in through the support of events aiming to advance understanding and closer relations between countries. Through its strategic location at the crossroads of Europe, Africa and the Middle East, RCB Bank is active in establishing co-operation and cultural exchange between regional governments, business leaders and decision makers.

Twenty years after being established, RCB Bank looks to the future with great confidence and continues to be guided by the same core values while it implements its growth and expansion strategy that will further solidify its position as the leading bank in Cyprus.

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