NewsLocalRCB Bank staff, clientele wait to see what's on the cards

RCB Bank staff, clientele wait to see what’s on the cards

Two days after RCB Bank sold a good part of its loan book to Hellenic Bank both staff and clients are concerned over what’s on the cards amidst rumours the lender’s mode of operation will change.

Specifically, it is strongly rumoured RCB Bank will turn into an asset management company and this also means that some of the 339 current staff will have to go.

This is what Philenews reported on Thursday, adding  that extremely worried are employees who are not members of the Cyprus Union of Bank Employees (ETYK).

Insiders said they kept calling ETYK on Wednesday asking how their employment status could change from one day to another.

The Limassol-based bank today has eight branches and eight ATMs island-wide.

The only announcement so far as regards the future of RCB Bank employees is that 16 of them – manning the loans department – will be transferred to Hellenic Bank.

Their task is to help manage the sold serviced loan portfolio of €556 million.

The sale helps RCB Bank create an additional liquidity buffer to meet clients’ obligations as well as sufficient assets for its operations.

RCB Bank has in recent years built up a strong local clientele in the retail, business banking and credit card sectors.

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