RCB BANK LTD has successfully passed an asset quality review (AQR)

RCB BANK LTD has successfully passed an asset quality review (AQR) and the stress tests under a comprehensive assessment conducted by the European Central Bank (ECB). The stress tests have showed that the Bank’s Common Equity Tier 1 ratio (CET1) in the adverse scenario is twice higher than the minimum requirements.

The asset quality review and the stress tests were carried out as part of a comprehensive assessment of RCB BANK LTD along with 130 European banks categorised as significant credit institutions prior to transfer under the direct supervision of the ECB through the Single Supervisory Mechanism (SSM).

RCB BANK LTD was established on 1 August 1995. As of 30 June 2014, its assets were over $ 9 billion, bank's equity is $ 416 million, and its profit for the first half of 2014 was $ 36 million. The bank has 3 established branches in Nicosia, Limassol and Luxembourg. In September 2014, RCB BANK LTD has been awarded by the Cyprus Investment Promotion Agency (CIPA) for its 2013 performance. The CIPA awards are won annually by dynamic and innovative international companies operating in Cyprus who have achieved outstanding results and are leaders in the market segment or their industry.