Back in March, the ECB approved RCB Bank’s sale of part of its loan portfolio to Hellenic Bank. RCB was restricted in its business: it could not take new deposits, grant new loans, or make new investments.
The ECB had also appointed a temporary administrator to work with RCB’s management and closely monitor the bank’s liquidity and capital.
RCB’s voluntary phasing out of banking operations included full repayment of depositors.
