RCB Bank Limited, Cyprus third largest lender, announced it has entered into an agreement with Hellenic Bank Public Company Ltd for the sale of a performing loan portfolio of up to €556 million, related funds on the accounts of the corresponding borrowers and related off-balance sheet obligations.
The agreement came as the Bank announced on 24 February that a 46.29% stake held by Russian VTB Bank in the bank was acquired by the other current, Cypriot shareholders of the bank.
Source: Cyprus News Agency