 In 1985 during the height of the , the Beirut branch closed and some staff and documents were transferred to Cyprus receiving its papers in 1989 from the State Bank of the USSR and was later transferred to Vneshtorgbank (VTB) becoming a full subsidiary of VTB in August 1995.RCB Bank was founded in 1995, and formerly known as Russian Commercial Bank (Cyprus), until November 2013.RCB Bank is based in Limassol, with branches in Nicosia and nine other locations in Cyprus as of July 2018, and in Luxembourg.