RCB Bank Ltd Supports Cypriot Businesses

10 June, 2015

Being a leading financial institution RCB Bank Ltd enhances its involvement in the Cyprus market. RCB Bank Ltd organized yesterday, Tuesday June 9th, an event for business people at the Leventis Gallery with Dr. Christoforos Pissarides, the Nobel-winner economist and member of the Board of Directors, as key note speaker.

More than 100 leading business people from all over Cyprus were welcomed to the event by Mr. Panayiotis Loizides, Chairman of RCB’s Board of Directors, who having announced the Bank’s decision to substantially increase its local lending operations, noted: "Our prime concern and goal is to support business activity and the economy of Cyprus at large". Mr. Sotos Zackheos, Executive Director of RCB Bank highlighted the fact that RCB is a financially strong and trusted, privately owned Cypriot Bank with resources to grant loans. "The Bank is aiming at becoming one of the top players for local lending and the bank of choice for the Cypriot businesses. Within this framework, our strategic plan also includes the significant increase of our presence throughout Cyprus", stated Mr. Zackheos who reiterated RCB Bank’s commitment, as a major Cypriot bank, to fulfil its role in supporting the Cyprus economy.

In his key note speech, Dr. Christoforos Pissarides conveyed a positive message with regards to the state of the Cyprus economy, highlighting that "The public finances are on a sound footing and they should continue to improve. The reason behind this improvement lies with the overall better-than-expected performance of the Cyprus economy at large". He presented several scenarios stressing that "fast structural reforms in product markets and the legal framework for business" are prerequisites for further economic growth in Cyprus.