By Emmanuel Sesay
The Bank of Sierra Leone has approved the 2022 Financial Statements and Balance Sheet of the Rokel Commercial Bank, showing a staggering profit (before tax) of Le94BN (Ninety-four Billion Old Leones), representing a 5.96% increase from Le88BN. (Eight-Eight Billion Old Leones) profit in 2021.
Customer deposits also grew from Le1.7Trillion (Old Leones) in 2021 to Le2.4Trillion (Old Leones) in 2022. While its 2023 Balance Sheet is yet to be reported, sources say RCBank is set to announce a record-breaking profit of around Le200BN (Two Hundred Billion Old Leones) this year. The bank has again pulled this through in the midst of a harsh global economic environment invariably affecting the local economy.
Clearly, the Rokel Commercial Bank is unrelenting in its pursuit to become the biggest and most digitalized financial institution in Sierra Leone and the entire sub-region.
In September this year, Rokel Commercial Bank made a statement of intent. The bank’s quest to become Sierra Leone’s most forward looking financial institution was expressly demonstrated with the launch of upscale, user-friendly and highly securitized Electronic Banking (E-Banking) products and services.
Currently, the bank boasts of the highest number of branches and cash points across the country triggering an exponential increase in customer base. In September, this year Rokel Commercial Bank launched a number of Electronic Banking (E-Banking) products and services, prominent among are Pre-Paid Cards, Visa Cards and card-less Automated Teller Machines (ATMs).
While plans are afoot to extend these users friendly and highly securitized banking cards to other institutions, the RCBank is completing the installation of 20 additional ATMs to its current stock of 15 at branches and outlets nationwide – leaving the Rokel Commercial Bank with largest spread of ATMs ever in the history of the Sierra Leone banking industry.
