|RCB BANK LTD – a European bank with Russian roots and almost a 20 year history.
RCB BANK LTD is a member of VTB Group, the leading international financial services group of Russian origin with its business presence in more than 20 countries. The holding company of the Group is VTB Bank Plc, one of the leading Russian banks, with the Russian government being the majority.
The history of the bank goes back to 1963, when the Moscow Narodny Bank of the USSR established a branch in Beirut Lebanon, a major Middle Eastern financial and business centre at the time. As the political situation in the Middle East deteriorated, the branch was relocated to Cyprus where ownership was transferred later to Vneshtorgbank. On the 1st of August 1995, the Bank reached an important milestone in its history when the branch was transformed into the Russian Commercial Bank (Cyprus) Limited as an overseas unit of VTB Bank and a banking licence was issued by the Central Bank of Cyprus. Since the accession of Cyprus into the European Union in 2004, the Bank operates as a fully fledged European bank. In November 2013, following a decision passed at a meeting of the shareholders of the Russian Commercial Bank (Cyprus) Limited, the Bank changed its name to RCB BANK LTD. The new name was registered with the Cyprus Registrar of Companies on 15 November 2013.
RCB BANK LTD is the only subsidiary amongst local banking Units of Russian and CIS banks registered in the Republic of Cyprus. Both governance and operations of the bank are regulated by European banking legislation, corporate governance laws, personal data protection and confidentiality of client’s operations as well as anti money laundering legislation.
RCB BANK LTD participates in the Deposit Protection Scheme and in the Investors Compensation Fund of Republic of Cyprus.
RCB BANK LTD provides a full range of banking services for successful individuals and their businesses.
In October 2010 RCB BANK LTD launched new branches in Limassol and Nicosia to meet the service quality and convenience requirements of its corporate and individual clients.
In 2014 the European network of the Bank was extended through opening of the branch in Luxembourg.
RCB BANK LTD aims to make a positive contribution to the development of Cyprus’ society and to further strengthen the traditional bonds between Russia and Cyprus. The sponsorship of Charities and charitable activities by the Bank is an integral part of its corporate policy.