RCB Bank opens 2 new branches, 2 more soon

Financial Mirror (Cyprus) - - FRONT PAGE -

Li­mas­sol-based RCB Bank, one of four sys­temic banks in Cyprus that passed the ECB stress tests last Oc­to­ber with fly­ing colours, has opened two new branches, one in Nicosia and one in Li­mas­sol, rais­ing the to­tal net­work to four, while it also plans to open two more by the end of sum­mer.

The new branch in Nicosia is on 28th Oc­to­ber Av­enue in En­gomi, and the new one in Li­mas­sol is on Kolon­akiou street in Linope­tra.

All RCB Bank branches are open from 9 am to 5 pm, de­spite the ef­forts of trade unions to open at 8am and close at 2.30, ren­der­ing Cyprus bank­ing sys­tem in­ter­na­tion­ally un­com­pet­i­tive.

Sug­gest­ing that RCB plans to ex­pand its oper­a­tions, the com­pany said in an an­nounce­ment that the open­ing of new branches “con­sti­tutes yet another step in re­al­is­ing RCB Bank’s plan to in­crease its lo­cal mar­ket oper­a­tions and thus fur­ther so­lid­ify its lead­ing po­si­tion as a trust­wor­thy, Cypriot bank.”

RCB Bank was es­tab­lished in 1995, is a mem­bers of the SSM mech­a­nism and un­der di­rect su­per­vi­sion of the Euro­pean Cen­tral Bank. As of March 31, its as­sets amounted to over EUR 11 bln and owner eq­uity to EUR 500 mln. The bank also op­er­ates a branch in Lux­em­bourg.

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