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Statement with regards to the article published by the OCCRP

29 April, 2022

We refer to the article published today by the OCCRP titled “The Kremlin Connections Behind Cyprus’ RCB Bank” and regret to note that this is nothing more than a malevolent recycling of old stories, myths and unfounded allegations that the Bank has answered and/or refuted on numerous occasions, including during a one-to-one interview granted to the journalist behind today’s non-factual article a few years ago.  Old stories and myths dating to when RCB Bank was a subsidiary of VTB Bank, something that was no secret but certainly belongs in the past and has no correlation to today.

Indicative of the obsessive attempt to harm not only RCB Bank but the stability of the Cyprus banking system at large is the fact that the article refers to individuals who have left the Bank 10-15 years ago, omits to state that the beneficiaries and ultimate owners of the Bank today are known to all authorities, regulators and to the said journalist and medium and constitutes nothing more than a desperate attempt to link myths, stories and absurd allegations together in a libelous text which has no basis in fact or in today’s reality.  

RCB Bank took the decision to phase out its banking operations with the stability of the Cyprus banking system in mind and is currently busy safeguarding the interests of its depositors and clients in the most ethical way in the history of Cyprus banking.  RCB will continue to ensure that its exit from banking is conducted in the smoothest possible way, irrespective of the malicious attempts of those whose aim seems to be to harm Cyprus, its banking system and its economy in general with slander, gossip and absurd conclusions.