BANKING: RCB named Safest Bank in Cyprus for third consecutive year

RCB Bank for the third consecutive year has won the prestigious “Safest Bank in Cyprus” award by the internationally renowned Global Finance magazine.

In its exclusive annual survey, which serves as a trusted standard of excellence for the global financial community, the New-York-based magazine ranks the most reliable financial institutions among the world’s largest banking players, as well as commercial, investment and regional banks.

Kirill Zimarin, CEO of RCB said: “This assessment reflects the fact that the Bank, as well as the Cyprus banking system in general, proved resilience and ability to overcome challenges inevitable in any business and achieve profit in spite of them”.

“And 2018 has been a remarkable year, when global rating agencies have upgraded Cyprus’ sovereign ratings back to investment grade, thus underlining confidence in the country’s economy and its banking sector,” he added.

Winners in the Safest Bank by Country ranking were selected among the largest 1,000 banks globally by assets, based on their long-term ratings from the three major international rating agencies, Moody’s, Fitch and Standard & Poor’s.