S&P confirms ratings of RCB Bank

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. RCB continues to hold the highest rating level amongst Cypriot banks.

According to a statement, 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 agency views the steady growth ofdomestic 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.