Insider Business Moody’s update on RCB Bank highlights high capital adequacy, low NPL ratio

Moody’s update on RCB Bank highlights high capital adequacy, low NPL ratio

Moody’s Investors Service has published its updated credit analysis report on RCB, highlighting as the Bank’s strengths the low NPL ratio and the high capital adequacy, an RCB press release says.

The Bank’s rating remained unchanged at B1, with stable outlook (two notches lower than the sovereign rating of the Republic of Cyprus at Ba2).

RCB’s press release says that the rating agency views positively the Bank’s efforts to grow its Cyprus residents deposit base and pointed out that the Bank has demonstrated consistent growth in deposits from the domestic market.

It is noted that last year Moody’s Investors’ Service upgraded RCB Bank’s long term local- and foreign-currency deposit ratings to B1 from B3.

“This is another confirmation of the Bank’s stable financial position in terms of capital and liquidity” the press release says.

RCB Bank Ltd established on August 1st 1995, is one of the largest banks in Cyprus and among the European significant Banks, which are under the direct supervision of the European Central Bank through the SSM mechanism. The Bank operates branches in Nicosia, Limassol, Larnaca, Paphos and Luxembourg and has representative offices in London and Moscow.

(Cyprus News Agency)

Top Stories

New travel advice from Foreign Ministry

    The Foreign Ministry is advising Cypriot citizens to avoid non-essential travel except in the case of the 40 countries listed in the current Group...

The Louvre museum reopens in Paris

Visitors take pictures of the painting "Mona Lisa" (La Joconde) by Leonardo da Vinci at the Louvre museum in Paris as the museum reopens...

Lonely bride

A bride walks on the shore of the Mediterranean Sea as she is photographed before her wedding amid the spread of the coronavirus disease...

Floods in China

People are seen on a makeshift raft in a flooded village following heavy rainfall in Huangshan, Anhui province, China July 6, 2020. Picture taken...

Mother arrested, infant hospitalised as police probe family violence

    A 19 month old infant has been admitted to Makarios Hospital with bruises and abrasions and his 24 year old mother has been arrested...

Taste

Cyprus sprouts with cream and prosciutto

In a big, deep frying pan, fry the prosciutto in the olive oil, on medium heat for 2 minutes. Add the onion and garlic...

Pork burger with sundried tomatoes, mozzarella and anchovies

Mix all the ingredients together with the mince in a bowl, and combine well. Divide into 4 balls and form the burgers. Warm a griddle/pan...

Sheftalies

Wash the lamb cauls with plenty of cold water and let them settle in water and vinegar for a little while. Soak the bread crumbs...

Loukaniko Pitsilias – Pitsilia Sausage

Pitsilia sausage is produced in the Pitsilia region from pork minced meat that is “cooked” ( matured) in the dry red wine of the...