S&P Global Ratings has published its annual report on RCB Bank, confirming its “BB-/B” long- and short-term counterparty credit ratings with stable outlook.

According to a statement, this rating in conjunction with those of other international rating agencies continue to grant RCB Bank the status of the highest rated banking institution in Cyprus.

RCB Bank’s strengths, such as its ample liquidity and sound capitalization, good asset quality, as well as its profitability through the cycle are amongst S&P’s major rating factors.  The agency notes in its report that RCB bank’s strengths enable it to withstand potential stresses from a macroeconomic downturn following the outbreak of COVID-19.

The S&P rating constitutes yet another confirmation of RCB Bank’s strong and stable position, a factor that for this year gains even more importance, given the effects of the COVID-19 pandemic on the Cyprus and the global economy alike.