Moody’s maintains RCB Bank’s B1 rating but places it on review

Moody's Investors Service ("Moody's") has maintained RCB Bank’s B1 rating placing it however on review. The rating was maintained as a reflection of the Bank’s proactive steps and the fact that RCB already meets its 2025 MREL target thus strengthening the protection afforded to depositors.

At the same time and in view of the fact that RCB Bank has now cut ties with VTB, whose minority stake has been acquired by the remaining two Cypriot shareholders, Moody’s has placed its rating on review for downgrade until the Bank delivers on its new business strategy for expansion under the new shareholding structure.