CYPRUS: President praises RCB expansion plans

President Nicos Anastasiades praised RCB Bank saying it is an international bank, which has become an integral part of the Cyprus banking sector and the country’s economy, but, most importantly, has provided tangible and substantial support to our country.

“Now that our economy is recovering and returning to growth, we can only applaud RCB’s expansion plan in the local market with the opening of new branches and the consequent creation of new jobs, as well as the increase in its loan portfolio to Cypriot businesses”, he told an event at the Presidential Palace to mark the bank’s 20th anniversary.
In his address at the event, the Minister of Economic Development of the Russian Federation, Alexey Ulyukaev referred to the very good economic relations between Cyprus and Russia in the fields of trade and investment. He also referred to the very good cooperation and mutual trust existing between the two countries in dealing with the various challenges relating to the global and European economy.
Andrey Kostin, President and Chairman of the board of VTB, the primary shareholder fo RCB Bank, also addressed the event during which RCB announced the donation of 10,000 euros to ten charity organisations.