BUSINESS

Reports of unsecured loans ‘unfounded,’ says Cyprus-based RCB

TAGS: Cyprus, Banking

Cyprus-based lender RCB said on Monday it had never provided unsecured loans, in a reference to a report by Britain’s Guardian newspaper of its alleged role in helping people close to Vladimir Putin amass fortunes.

Reuters could not independently confirm the allegations, which RCB said were “unfounded” and “duly refuted as untrue.”

In another statement sent to Reuters, the Central Bank of Cyprus said it was “evaluating” the information for possible links to the Cypriot banking system.

It would take appropriate action if necessary, it said, without elaborating.

“RCB Bank, as a principal [sic], did not and does not provide unsecured loans,” RCB bank, which is affiliated with the Russian state-owned bank VTB and regulated by the Central Bank of Cyprus, said in a statement emailed to Reuters.

“The Bank always acts in a transparent manner and all information about its activities is available to the relevant Cypriot and European authorities.”

[Reuters]

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