Board of Directors

The Board of Directors of RCB Bank Ltd performs its functions in accordance with the Companies Law, Internal Governance Directive of 2021, Articles of Association of RCB Bank Ltd and a number of internal regulations adopted by RCB Bank Ltd from time to time.

Members of the Board of Directors

The Board of Directors has the primary responsibility for internal governance at RCB Bank Ltd. Currently, the Board of Directors of RCB Bank Ltd has the following members:

Qualifications:

  • 1982, FCA (Fellow of the Institute of Chartered Accountants in England and Wales);
  • 1978, BSc (Econ.) London School of Economics and Political Science.

Directorships in other organisations:

  • The Cyprus Association of Cancer Patients and Friends.
  • Dunross Investment Limited.

Qualifications:

  • 2015, Doctorate in Economics (Lomonosov Moscow State University);
  • 1996, PhD in Economics (Lomonosov Moscow State University);
  • 1993, Degree in Economics of Foreign Countries and International Relations (Lomonosov Moscow State University).

Directorships in other organisations:

  • President of the Association of International Banks in Cyprus.

Qualifications:

  • 1977, Master in Political Sciences (Stanford University);
  • 1976, Degree in Economics (University of Athens);
  • 1972, Degree in Law (University of Athens).

Directorships in other organisations:

  • None.

Qualifications:

  • 1970, Degree in Management (British Institute of Management).

Directorships in other organisations:

  • None.

Qualifications:

  • 1979, Licentiate in Social Sciences (equivalent to PhD) in Sociology and Political Sciences (University of Helsinki);
  • 1974, Degree in Public Law and Political Sciences (University of Athens);
  • 1972, Degree in Law (University of Athens);

Directorships in other organisations:

  • None.

Qualifications:

  • 1988, Doctorate in Economics (University of Economics, Vienna);
  • 1983, Master in Commercial Science (University of Economics, Vienna);
  • Studies in Political Science (University of Vienna).

Directorships in other organisations:

  • None.

Qualifications:

  • 1997, Economist specializing in international economic relations (Moscow State Institute of International Relations);
  • ACCA.

Directorships in other organisations:

  • None.

Qualifications:

  • 1980, Postgraduate Diploma in Economic Analysis (University of Kent);
  • 1972, Diploma in Economics (University of Athens).

Directorships in other organisations:

  • Executive director of the Board of Directors of CNTR Consultants Ltd.

Qualifications:

  • 1984, Advanced Legal Drafting (University of Bangladesh);
  • 1977, Legal Drafting (University of West Indies);
  • 1969, Legal Degree (University of Athens).

Directorships in other organisations:

  • None.
Board of Directors Committees

The Board of Directors has 4 committees. Responsibilities and terms of reference of the committees incorporate the provisions of Part IV of the Internal Governance Directive of 2021 with minimal necessary modifications.

  • Dr Erato Kozakou-Marcoullis, Chairperson
  • Petros Clerides, Member
  • Sergey Kovtun, Member
  • Dr Martin Czurda, Member
  • Dr Martin Czurda, Chairperson
  • Christakis Santis, Member
  • Sergey Kovtun, Member
  • Christakis Santis, Chairperson
  • Andreas Tryfonides, Member
  • Panayiotis Loizides, Member
  • Dr Erato Kozakou-Marcoullis, Member
  • Andreas Tryfonides, Chairperson
  • Panayiotis Loizides, Member
  • Petros Clerides, Member
Compliance Matters

In principle, the candidates for the directorship at RCB Bank Ltd may be proposed by the current directors as well as shareholders. All candidates are considered by the Nominations Committee of the Board of Directors.

The Nominations Committee assesses the candidates according to the set out in Annex I of the Directive on the Assessment of Suitability of the Members of the Management Body and Key Function Holders of Authorised Credit Institutions of 2020 and Internal Governance Directive of 2021.

Upon the assessment, the Nominations Committee conveys its recommendations to the Board of Directors. The Board of Directors decides on the candidates taking into account these recommendations. When the decision is affirmative, the documents of the candidates are submitted through the Central Bank of Cyprus to the European Central Bank for their approval. Once the approval is received, the Board of Directors proceeds with the formal appointment, which is subsequently confirmed on the next annual general meeting of RCB Bank Ltd.

RCB Bank Ltd has adopted in full the independence criteria for the members of the Board of Directors set out in Annex I of the Directive on the Assessment of Suitability of the Members of the Management Body and Key Function Holders of Authorised Credit Institutions of 2020.

The Board of Directors holds regular meetings at least four times a year on a quarterly basis; when necessary, the Board of Directors holds additional meetings or passes written resolutions from time to time. Each member of the Board of Directors has to attend all meetings. The members of the Board of Directors may be allowed to be absent for not more than 2 consecutive meetings or 25 per cent of the meetings held during a year. Up until now, the Board of Directors has complied with the minimum attendance requirements.