RCB Bank
| Industry | banking |
|---|---|
| Founded | 1995  |
| Headquarters | , Cyprus |
Area served | Cyprus |
Key people | Panayiotis Loizides, Chairman Kirill Zimarin, CEO |
RCB Bank is an international bank based in Cyprus.
History
In 1963, the Moscow Narodny Bank Ltd (Moscow Narodny Bank (London)), formerly the Moscow People's Bank (London), established a branch in Beirut for foreign trade and export support from USSR to Middle East countries.[1][2] In 1985 during the height of the Libyan-United States crisis, the Beirut branch closed and some staff and documents were transferred to Cyprus[3] receiving its papers in 1989 from the State Bank of the USSR and was later transferred to Vneshtorgbank (VTB) becoming a full subsidiary of VTB in August 1995.[2][4]
RCB Bank formed
RCB Bank was founded in 1995, and formerly known as Russian Commercial Bank (Cyprus), until November 2013.[5]
RCB Bank is based in Limassol, with branches in Nicosia[6] and nine other locations in Cyprus as of July 2018,[7] and in Luxembourg. It has representative offices in Moscow and London.[5] The chairman is Panayiotis Loizides, and the CEO is Kirill Zimarin.[8]
Other members of the board of directors include Economics Nobel laureate Sir Christopher Pissarides, former foreign minister Erato Kozakou-Marcoullis, former attorney general Petros Clerides, former permanent secretary at the ministries of finance and justice Andreas Tryfonides, and former ambassador and permanent secretary at the foreign ministry Sotos Zackheos.[8][9]
In November 2014 RCB Bank was categorized as significant EU bank under direct supervision of the ECB through the SSM.[10][11] Since 2016, RCB Bank has been a partner of the EIB[12] and the EIF[13] in financing investment projects implemented with the EU funds in Cyprus.
In August 2017, Zimarin increased his ownership of RCB to 49.9% by acquiring a $100 million stake (19.85%) in the Russian Otkritie Financial Corporation Bank.[7][14]
As of 2018, VTB through its holdings and subsidiaries is one of the largest shareholder in RCB and continues to fund and guarantee most of RCB Bank's loans.[15][16] Close relationships of money transfers between VTB and RCB occur through the Pictet Bank in Switzerland.[17][18][19][20]
References
- ^ "«Путь Геракла : история банкира Виктора Геращенко, рассказанная им Николаю Кротову» – читать". knigosite.org. Retrieved 2020-02-07.
- ^ a b Угодников, Константин (April 15, 2013). "Свой среди чужих: Почему в Москве так озабочены судьбой коммерческого банка на далеком Кипре?" [His own among strangers: Why be so concerned about the fate of a commercial bank in distant Cyprus in Moscow?]. "Итоги" itogi.ru (in Russian). Retrieved August 6, 2018.
- ^ "Российские банки на Кипре". www.kommersant.ru (in Russian). 1996-02-08. Retrieved 2020-02-07.
- ^ Березанская, Елена (January 3, 2012). "Остров сокровищ" [Treasure Island] (in Russian). Forbes. Retrieved August 6, 2018.
- ^ a b "RCB Bank Ltd.: Private Company Information - Businessweek". Bloomberg.com. Retrieved 2016-04-04.
- ^ "Главы РФ и Кипра открыли в Никосии первый розничный офис российского банка в ЕС" [Heads of Russia and Cyprus opened in Nicosia the first retail office of the Russian bank in the EU]. banki.ru (in Russian). RIA Novosti. October 8, 2010. Retrieved August 6, 2018.
- ^ a b "Geopolitics, sanctions not deterring RCB, CEO Zimarin says". Cyprus Mail. July 1, 2018. Retrieved August 6, 2018.
- ^ a b "Members of the Board of Directors — RCB Bank Ltd". Rcbcy.com. Retrieved 2016-04-04.
- ^ "Cyprus implicated in Panama papers (Update 4, adds Central Bank reaction) - Cyprus Mail Cyprus Mail". cyprus-mail.com. Retrieved 2016-09-09.
- ^ Bank, European Central. "ECB assumes responsibility for euro area banking supervision". European Central Bank. Retrieved 2020-02-03.
- ^ Bank, European Central. "Who supervises my bank?". European Central Bank - Banking Supervision. Retrieved 2020-02-03.
- ^ fm (2016-02-19). "CYPRUS: RCB Bank joins forces with EIB to support SMEs". Financial Mirror. Retrieved 2020-02-19.
- ^ SigmaLive. "First EFSI transaction signed in Cyprus between EIF-RCB | News". www.sigmalive.com. Retrieved 2020-02-19.
- ^ "Куда течет денежный поток Кремля: Критики ВТБ говорят, что только тесные связи с Путиным сохраняют второй по величине российский банк от более глубокого кризиса" [Where the Kremlin's cash flow flows: Critics of VTB say that only close ties with Putin save the second-largest Russian bank from a deeper crisis]. Insider Pro (in Russian). August 25, 2016. Retrieved August 6, 2018.
- ^ "Moody's upgrades RCB Bank's deposit ratings to B1 from B3". Moody's. August 29, 2017. Retrieved May 18, 2018.
- ^ Seddon, Max (August 24, 2016). "Cashflow and the Kremlin: Critics of VTB, Russia's second biggest bank, say only deep ties to Putin have helped it fend off a deeper crisis". Financial Times. Retrieved May 18, 2018.
- ^ Harding, Luke (April 3, 2016). "Revealed: the $2bn offshore trail that leads to Vladimir Putin". The Guardian. London.
- ^ Kotova, Yulia (April 4, 2016). "Глава ВТБ назвал "бредом" сообщения о связи Путина с сетью офшоров" [Head of VTB called it "delirium" the announcement about the Putin's connection with off-shore networks] (in Russian). RBC News. Archived from the original on 4 April 2016. Retrieved April 28, 2018.
- ^ Blum, Petra; Obermaier, Frederik; Obermayer, Bastian. "Putin's rich friends". Süddeutsche Zeitung. Retrieved May 18, 2018.
- ^ Harding, Luke (April 3, 2016). "Sergei Roldugin, the cellist who holds the key to tracing Putin's hidden fortune". The Guardian. Retrieved May 18, 2018.