Insider Business S&P confirms RCB Bank’s “BB-/B” rating with stable outlook

S&P confirms RCB Bank’s “BB-/B” rating with stable outlook

S&P Global Ratings has published its annual report on RCB Bank, confirming its “BB-/B” long- and short-term counterparty credit ratings with stable outlook.

According to a press release by the bank, “RCB continues to hold the highest rating level amongst Cypriot banks.”

“RCB Bank’s strengths, such as strong capitalization, good asset quality, as well as good profitability through the cycle are amongst S&P’s major rating factors,” the press release points out.

It adds that the agency views the steady growth of domestic business in loans and deposits, much better credit and earnings performance, compared to domestic peers and management team as positive factors for the business stability of RCB.

S&P considers RCB Bank`s corporate governance to be adequate, and internal anti-money laundering control system to be sound.

“This is another confirmation of the Bank’s strong and stable position in Cyprus,” the bank adds.

RCB Bank Ltd was 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.

(Cyprus News Agency)

Top Stories

122 new cases, one death announced on Friday

The Health Ministry announced the death of one person due to COVID-19. This raises the death toll from the virus in Cyprus to 179,...

Where to get antigen rapid tests on Saturday

The Health Ministry announced the following antigen rapid test sites for Saturday, 23 January 2021: LIMASSOL Grigoris Afxentiou Square 08:30-16:30 Gafkos Clerides Park, Germasoyia 08:30-16:30 Municipal Hall Ypsonas...

Civil servants’ trade union requests psychological support for health professionals

PASYDY, the civil servants’ trade union requested psychological support for health professionals due to the consequences of COVID-19 on their health. The trade union noted...

Scientific advisory committee to convene on Monday under President Anastasiades

Cyprus President, Nicos Anastasiades, will preside on Monday morning over a meeting of the scientific advisory committee on COVID-19. According to CNA information, during the...

Polish medics depart for Slovakia to help mass testing

A group of 200 Polish medics departed for neighbouring Slovakia on Friday (January 22) to help in a week-long testing campaign in the central...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...