Russian Commercial Bank (Cyprus)

 Russian Commercial Bank (Cyprus) – a European bank with Russian roots and a 16 year history.

Russian Commercial Bank (Cyprus) 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 1^stof August 1995, the Bank reached an important milestone in its history when the branch was transformed into Russian Commercial Bank (Cyprus) 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, Russian Commercial Bank (Cyprus) operates as a fully fledged European bank.

Russian Commercial Bank (Cyprus) 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.

Russian Commercial Bank (Cyprus) participates in the Deposit Protection Scheme and in the Investors Compensation Fund of Republic of Cyprus.

Russian Commercial Bank (Cyprus) provides a full range of banking services for successful individuals and their businesses. 

In October 2010 Russian Commercial Bank (Cyprus) launched new branches in Limassol and Nicosia to meet the service quality and convenience requirements of its corporate and individual clients.

Russian Commercial Bank (Cyprus) 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.