RCB Bank Ltd has published the financial results for 2019

8 May, 2020

RCB Bank Ltd has published its financial statements for the year ended December 31st 2019, as approved by the Board of Directors.

2019 was yet another successful year, in line with all the previous ones, for RCB Bank Ltd with its profitability at EUR32 million. This year’s profitability as well as the steady positive results the Bank enjoyed in previous years is indicative of the fact that RCB Bank Ltd is financially strong and can proceed with its development plans with confidence. The profitable results of 2019 are also solid proof that the new strategy adopted by RCB Bank and the overall transformation model it has implemented are successful and can steer the Bank to further growth and development in the domestic market of Cyprus and beyond. 2019 had seen the first results of this new strategy, not only in terms of profitability but also from the advancement that was witnessed in each field.

In addition, the Bank has improved its overall operational efficiency. RCB Bank has also maintained a very low level of non-performing exposures (NPEs) and high level of NPE coverage which renders it as one of the healthiest banking institutions in Cyprus. This is also reflected in the total capital adequacy ratio of RCB Bank that stood at 21%, exceeding the minimum required level. The overall positive outlook of the Bank’s financial results and its prospects are duly reflected in the rating it has received from various agencies that place RCB Bank in the leading position as the Cypriot Bank with the highest rating in the country.

In this trying times for the world economy and the local economy of Europe and Cyprus alike, RCB Bank’s financial results, capital adequacy and ratio provide the Bank with the necessary strength and confidence to continue to further develop its products and the high level of services it provides to its customers. The results of 2019 and the positive history they follow elevate RCB Bank Ltd to a leading financial partner for both individual and corporate clients in Cyprus and beyond.