S&P Global Ratings Assigns 'BB-' Long-Term Credit Rating to Cyprus RCB Bank

Агентство S&P Global Ratings присвоило кипрскому RCB Bank долгосрочный кредитный рейтинг «ВВ-»
21 October 2021 Liza Medvetskaya

The international rating agency S&P Global Ratings has published its annual report on RCB Bank, confirming the long-term and short-term credit ratings of the bank at 'BB- / B' with a stable outlook.

It should be noted that for a long time, RCB Bank's rating has remained one of the highest among Cypriot banks.

As the strengths of RCB Bank, the agency noted the high level of capital adequacy, good quality of assets, as well as sustainable profitability throughout the entire cycle.

Agency analysts believe that steady growth in lending and attracting deposits in the local market, significantly higher indicators of the quality of the loan portfolio and profitability of RCB compared to other banks in Cyprus, as well as the bank's management are positive factors for the stability of RCB's business.

The international rating agency also notes that RCB Bank's corporate governance meets all standards and the internal compliance system is reliable. This is another confirmation of the strong and stable position of the bank in Cyprus.

S&P expects the bank's ability to absorb losses will remain at the high level it has achieved, and the volume of problem loans will remain significantly lower than that of other banks in Cyprus.

Агентство S&P Global Ratings присвоило кипрскому RCB Bank долгосрочный кредитный рейтинг «ВВ-»

As you may know, RCB was founded in 1995 and today is one of the largest financial institutions in Cyprus and a systemically important EU bank.

The Bank provides corporate, investment and retail products and services to clients from nearly 50 countries. RCB is a private universal bank. The Bank's head office is located in Limassol, branches - in Nicosia, Limassol, Larnaca, Paphos, a branch in Luxembourg, representative offices are in Moscow and London.

Over the years, RCB has earned a reputation as a financially stable and reliable bank. Offering a wide range of classic banking products as well as personalized investment solutions, RCB is committed to developing long-term partnerships with its clients. Trust, customer service, coupled with first-class service have been the keys to RCB's success and the driving force behind its development.

Source: stockwatch.com.cy
Photos: pixabay.com
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