EuropeFinance and Insurance

Cyprus’s second largest bank entering ship finance

RCB, Cyprus’s second largest bank, is looking to get into ship finance, Splash can exclusively reveal.

Executives from the 1995-established bank are in Athens this week to attend Posidonia, the famous Greek shipping show, as they gear up to enter the shipping sector.

“We’ve got lots of liquidity and think this could be a good sector for us to get in,” a source at the bank told Splash.

RCB Bank is 46% owned by Russia’s VTB. It hit the headlines earlier this year when it was revealed via the documents leaked from a Panamanian law firm – an exposé known as the Panama Papers – that RCB moved as much as $2bn in offshore transactions linked to associates of Russian president Vladimir Putin.


Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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