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Announcement: Surrendering the Banking License

24 October, 2022

RCB Bank wishes to inform that its Board of Directors has decided, during a meeting held today, to surrender its banking license. This decision became possible because RCB currently maintains a zero balance in deposits.

This is the outcome of a strenuous and professional procedure during which RCB has treated its customers with the utmost respect and undertook all necessary measures and actions in order to ascertain that all its depositors received their money in the smoothest possible way.

RCB’s exit from banking operations in such an ethical and timely manner constitutes a first in the banking history of the country and reflects its core values of Trust, Responsibility and Excellence.

The Board of Directors and the management of RCB would like to take this opportunity to, once again, thank all customers for their trust and cooperation all these 27 years. Under its new, transformed and rebranded capacity, RCB looks forward to continuing its operations in Cyprus and in Europe and thus its support for growth and prosperity.