2018/2019 FINANCIAL STATEMENT…

ROKEL BANK EXCELS

Under the dynamic leadership of Dr Dayo Gilpin who was recruited in 2017 to turn the bank’s fortune around, Rokel Commercial Bank continues to march on with its impressive performance after its remarkable transformation from a loss-making to a profit-making financial institution.

When he assumed office in mid-2017, after his appointment as Chief Executive Officer of the Rokel Commercial Bank, Dr Gilpin boldly stated: “My focus and interests are in developing the bank into the best banking institution in Sierra Leone and to see RC Bank grow beyond our shores.”

The just released 2019 annual report and audited financial statements show the bank netted an imposing Le63 Billion profit after tax.

Also, the bank’s total annual revenue growth rises from 184 billion in 2018 to 208 billion in 2019.

Three successive profitable years is testimony to the hard work, vision and commitment of Managing Director, Dr Gilpin, Senior Management, staff and the Board of Directors to restore RCB to its former glory through rebranding and repositioning it to become a profit-making banking institution.

RCB’s recent surge in profitability should be seen against a backdrop of a very competitive business climate and stiff competition occasioned by the presence of several foreign owned banks in Sierra Leone.

As part of its rebranding, RCB has done a lot to bring onboard more customers by reaching out to the unbanked population with new technology driven products and services.

Reporting profits for the past three years has come on the back of a massive expansion drive by the bank as seen in the establishment and revival of branches or mobile outlets across the country.

The revolutionary mobile based product, Rokel Simkorpor has been a big game changer bringing in a record number of new customers whilst at the same time RCB continues to perform its corporate social responsibilities to different classes of beneficiaries.