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17.03.2017 - 09: 30

S & P has assigned a Cyprus RCB Bank long-term credit rating of "BB-"

Rating agency S & P Global Ratings on Wednesday assigned Cyprus RCB Bank Ltd long-term credit rating of "BB-", forecast "stable", according to a press release from the bank RCB.

The largest shareholder is an RCB Bank VTB Group (46,29%).

"The international rating agency S & P Global Ratings assigns RCB Bank Ltd a long-term and short-term counterparty credit ratings at" BB- / B ", outlook" stable. "The report S & P stresses that the creditworthiness of the RCB Bank Ltd reflects the bank's position as the third largest in Cyprus as well as its credit quality and profitability, which are significantly superior to those of other financial institutions of the country for the last credit cycle, "- said in a statement.

S & P expects the bank's ability to absorb losses will be made on the highest level, and the volume of bad loans will continue to be significantly lower than that of other banks in Cyprus.

"Weather changes RCB ratings Bank Ltd defined by S & P as" stable ", which reflects the expectation of the agency that the business and financial indicators will remain stable over the next 12 months, supported by the improving economic situation in Cyprus and Russia", - stated in the press release RCB.

The report S & P also noted that the Bank's corporate governance is fully consistent with regulatory requirements, and the system of internal control on counteraction to legalization of proceeds from crime, is reliable, and in some cases more stringent than the legal requirements.

"Appreciation of the rating agency confirmed the bank's position as the most sustainable in Cyprus - a country with one of the most dynamic economies in the eurozone," - presented in a press release the words Director General RCB Bank Ltd Cyril Zimarin.

A source: RIA News

Tags: Cyprus, Banks, Economy, Rating