RCB Bank Ltd, in a statement, informs that it has taken the decision to transform the bank into a regulated asset management company and is shifting away from banking operations, which will be phased out.
"Although RCB maintains ample levels of liquidity and capital adequacy, the ongoing and highly volatile geopolitical situation necessitates this transformation and the adoption of a new strategy - the gradual exit from banking operations while safeguarding the interests of its clients," it says. Then, it notes, "after the Bank completes its shift from accepting deposits and providing funding, it plans to transform itself into a supervised asset management company, as it has significant assets
(CNA)
CNA
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