Otkritie FC owner of 19.85% in RCB Bank after $124.2 million capital increase

By Stelios Orphanides

RCB Bank Ltd said it completed a capital increase by issuing new shares to the Russian Otkritie Financial Corporation Bank, which is now owner of a 19.85 per cent stake, the Cyprus based lender.

“In the course of the issue of additional shares, the stake of VTB Bank decreased to 46.29 per cent, RCB Bank equity increased by $124.2 million and exceeded $0.5 billion in total,” RCB said in an emailed statement today.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.