RCB Bank joins forces with the EIB and the Government in supporting small and medium sized enterprises

19 February, 2016

RCB Bank is pleased to announce that it has joined forces with the European Investment Bank (EIB) and the government of Cyprus to achieve viable growth for the Cyprus economy by supporting small and medium sized Cypriot enterprises. In this regard, RCB Bank will be making available 20 million Euros worth of competitive lending solutions, characterized by a longer repayment period, a lower funding cost and favorable terms to SMEs, which are the backbone of the economy. 


Speaking after the signing ceremony, Dr. Kirill Zimarin, CEO of RCB Bank thanked the EIB for its valuable support in reinstating Cyprus as a growing and stable economy in the European Union. Dr. Zimarin underlined the fact that a lot has been achieved during the last couple of years making stability and the prospects of growth appear much faster than expected. Dr. Zimarin praised the excellent and focused work conducted by the Minister of Finance and his team which led to these remarkable achievements. 


The CEO of RCB Bank also stated that banks have an important role to play in restoring the credibility of the banking sector and noted that “What Cyprus really needs is strong, well-managed and prudent banks”. Dr. Zimarin urged banks facing problems to use the tools provided to effectively deal with them. “This will enable Cyprus to gain the investment grade rating it deserves, to attract investments and return to viable growth” concluded Dr. Zimarin.