RCB Bank Ltd has successfully completed the stress test carried out by the European Central Bank

RCB Bank Ltd is pleased to announce that it has successfully completed the stress test carried out by the European Central Bank, which was aligned with the European Banking Authority (EBA) methodology.

The stress test results show that the Bank’s Common Equity Tier 1 ratio (CET1) is 16.58% under the adverse scenario as at 31 December 2018, well above the regulatory minimal requirements, including the fully phased in buffers applicable to the Bank.

RCB Bank Ltd considers the results as yet another confirmation of its financial strength and stability.

RCB Bank Ltd has been supervised directly by the European Central Bank in coordination with the Central Bank of Cyprus under the Single Supervisory Mechanism since November 2014. RCB Bank Ltd is not in the list of 51 EU banks for which the European Banking Authority (EBA) conducted the stress tests. Instead, it belongs in the list of the significant institutions for which the ECB performed the stress tests, as part of their annual Supervisory Review and Evaluation Process (SREP). Throughout the exercise, the ECB applied a robust quality assurance methodology.