RCB Bank

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RCB Bank
IndustryBanking, Financial services
Founded1995 Edit this on Wikidata
Headquarters
Limassol
,
Cyprus
Area served
Republic of Cyprus
Key people
Christakis Santis, Chairman
Kirill Zimarin, CEO
RCB Bank branch in Nicosia

RCB Bank is an international bank based in Cyprus.

History[]

In 1963, the Moscow Narodny Bank Ltd (Moscow Narodny Bank (London)), formerly the Moscow People's Bank (London), established a branch in Beirut for foreign trade and export support from USSR to Middle East countries.[1][2][3][4] In 1985 during the height of the Libyan-United States crisis, the Beirut branch closed and some staff and documents were transferred to Cyprus[3][5] receiving its papers in 1989 from the State Bank of the USSR and was later transferred to Vneshtorgbank (VTB) becoming a full subsidiary of VTB in August 1995.[2][6] In the summer of 2002, VTB owned the controlling stake in the RCB Bank and also had controlling stakes in the Vienna, Austria based Donau Bank and the Luxembourg based East West United Bank (EAUB) and in 2005 VTB held 100% of RCB.[7][8][9]

RCB Bank formed[]

RCB Bank was founded in 1995, and formerly known as Russian Commercial Bank (Cyprus), until November 2013.[10]

RCB Bank is based in Limassol, with branches in Nicosia[11] and nine other locations in Cyprus as of July 2018,[12] and in Luxembourg. It has representative offices in Moscow and London.[10] The chairman is Christakis Santis, and the CEO is Kirill Zimarin.[13]

Other members of the board of directors include Economics Nobel laureate Sir Christopher Pissarides, former foreign minister Erato Kozakou-Marcoullis, former attorney general Petros Clerides, former permanent secretary at the ministries of finance and justice , and former ambassador and permanent secretary at the foreign ministry Sotos Zackheos.[13][14]

In November 2014 RCB Bank was categorized as significant EU bank under direct supervision of the ECB through the SSM.[15][16] Since 2016, RCB Bank has been a partner of the EIB[17] and the EIF[18] in financing investment projects implemented with the EU funds in Cyprus.

In August 2017, Zimarin increased his ownership of RCB to 49.9% by acquiring a $100 million stake (19.85%) in the Russian Otkritie Financial Corporation Bank.[12][19]

As of 2018, VTB through its holdings and subsidiaries is one of the largest shareholder in RCB and continues to fund and guarantee most of RCB Bank's loans.[20][21] Close relationships of money transfers between VTB and RCB occur through the Pictet Bank in Switzerland.[22][23][24][25]

See also[]

Tomas Alibegov

References[]

  1. ^ ""Путь Геракла : история банкира Виктора Геращенко, рассказанная им Николаю Кротову" – читать". knigosite.org. Retrieved 2020-02-07.
  2. ^ a b Угодников, Константин (April 15, 2013). "Свой среди чужих: Почему в Москве так озабочены судьбой коммерческого банка на далеком Кипре?" [His own among strangers: Why be so concerned about the fate of a commercial bank in distant Cyprus in Moscow?]. "Итоги" itogi.ru (in Russian). Retrieved August 6, 2018.
  3. ^ a b "Томас Иванович Алибегов: Последовало мнение, что мне в советской банковской системе не место!" [Tomas Ivanovich Alibegov: There was an opinion that I had no place in the Soviet banking system!] (PDF). Экономическая Летопись России (Economic Chronicle Russia) (Следующая остановка — Бейрут on pages 39-45) (in Russian). April 2015. pp. 10–16. Archived from the original (PDF) on 10 September 2016. Retrieved 6 August 2021.
  4. ^ "Алибегов Томас Иванович" [Tomas Ivanovich Alibegov]. Экономическая Летопись России (Economic Chronicle Russia) (in Russian). Archived from the original on 29 December 2017. Retrieved 6 August 2021.
  5. ^ "Российские банки на Кипре". www.kommersant.ru (in Russian). 1996-02-08. Retrieved 2020-02-07.
  6. ^ Березанская, Елена (January 3, 2012). "Остров сокровищ" [Treasure Island]. Forbes (in Russian). Retrieved August 6, 2018.
  7. ^ Овчинников, О. (Ovchinnikov, O.) (8 November 2000). "ЦБ - центральный Банд ..." [Central Bank - Central Gang ...]. Compromat.ru (in Russian). Retrieved 6 August 2021.
  8. ^ "«Дочерние» российские зарубежные банки и сеть ВТБ: доли ЦБ, ВТБ и др" [Russian Foreign "Daughter" Banks and the VTB Network: stakes held by Central Bank, VTB, others]. compromat.ru. February 2005. Retrieved 6 August 2021.
  9. ^ Бирман, Александр (Birman, Alexander) (21 February 2005). "В советских сетях: Нефтедоллары пойдут по проверенным каналам загранбанков" [In Soviet networks: Oil dollars will go through proven channels of foreign banks]. ��ОО Журнал «КО» (ko.ru) (Компании Деловой Еженедельник). Archived from the original on 13 March 2005. Retrieved 6 August 2021.
  10. ^ a b "RCB Bank Ltd.: Private Company Information - Businessweek". Bloomberg.com. Retrieved 2016-04-04.
  11. ^ "Главы РФ и Кипра открыли в Никосии первый розничный офис российского банка в ЕС" [Heads of Russia and Cyprus opened in Nicosia the first retail office of the Russian bank in the EU]. banki.ru (in Russian). RIA Novosti. October 8, 2010. Retrieved August 6, 2018.
  12. ^ a b "Geopolitics, sanctions not deterring RCB, CEO Zimarin says". Cyprus Mail. July 1, 2018. Retrieved August 6, 2018.
  13. ^ a b "Members of the Board of Directors — RCB Bank Ltd". Rcbcy.com. Retrieved 2016-04-04.
  14. ^ "Cyprus implicated in Panama papers (Update 4, adds Central Bank reaction) - Cyprus Mail Cyprus Mail". cyprus-mail.com. Retrieved 2016-09-09.
  15. ^ Bank, European Central. "ECB assumes responsibility for euro area banking supervision". European Central Bank. Retrieved 2020-02-03.
  16. ^ Bank, European Central. "Who supervises my bank?". European Central Bank - Banking Supervision. Retrieved 2020-02-03.
  17. ^ fm (2016-02-19). "CYPRUS: RCB Bank joins forces with EIB to support SMEs". Financial Mirror. Retrieved 2020-02-19.
  18. ^ SigmaLive. "First EFSI transaction signed in Cyprus between EIF-RCB | News". www.sigmalive.com. Retrieved 2020-02-19.
  19. ^ "Куда течет денежный поток Кремля: Критики ВТБ говорят, что только тесные связи с Путиным сохраняют второй по величине российский банк от более глубокого кризиса" [Where the Kremlin's cash flow flows: Critics of VTB say that only close ties with Putin save the second-largest Russian bank from a deeper crisis]. Insider Pro (in Russian). August 25, 2016. Retrieved August 6, 2018.
  20. ^ "Moody's upgrades RCB Bank's deposit ratings to B1 from B3". Moody's. August 29, 2017. Retrieved May 18, 2018.
  21. ^ Seddon, Max (August 24, 2016). "Cashflow and the Kremlin: Critics of VTB, Russia's second biggest bank, say only deep ties to Putin have helped it fend off a deeper crisis". Financial Times. Retrieved May 18, 2018.
  22. ^ Harding, Luke (April 3, 2016). "Revealed: the $2bn offshore trail that leads to Vladimir Putin". The Guardian. London.
  23. ^ Kotova, Yulia (April 4, 2016). "Глава ВТБ назвал "бредом" сообщения о связи Путина с сетью офшоров" [Head of VTB called it "delirium" the announcement about the Putin's connection with off-shore networks] (in Russian). RBC News. Archived from the original on 4 April 2016. Retrieved April 28, 2018.
  24. ^ Blum, Petra; Obermaier, Frederik; Obermayer, Bastian. "Putin's rich friends". Süddeutsche Zeitung. Retrieved May 18, 2018.
  25. ^ Harding, Luke (April 3, 2016). "Sergei Roldugin, the cellist who holds the key to tracing Putin's hidden fortune". The Guardian. Retrieved May 18, 2018.

External links[]

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