Amidst Global Economic Challenges:
AYV News, October 24, 2023
In the face of unprecedented expansion and digitization efforts and a challenging global economic climate, Rokel Commercial Bank has emerged as a financial powerhouse, posting a remarkable profit of Le94 billion (Old Leones) in its 2022 financial statements, according to official approval from the Bank of Sierra Leone. This impressive figure marks a 5.96% increase from the Le88 billion (Old Leones) profit recorded in 2021.
The bank has not only excelled in terms of profit but has also witnessed substantial growth in customer deposits, surging from Le1.7 trillion (Old Leones) in 2021 to Le2.4 trillion (Old Leones) in 2022. Sources hint at a forthcoming announcement of a record-breaking profit of approximately Le200 billion (Old Leones) for the year 2023, demonstrating Rokel Commercial Bank’s resilience in navigating a challenging global economic environment that has had a ripple effect on the local economy.
Rokel Commercial Bank is unwavering in its commitment to becoming Sierra Leone’s premier and most digitally advanced financial institution, as well as a regional leader. The bank currently boasts the largest network of branches and cash points throughout the nation, resulting in a substantial increase in its customer base.
Notably, in September of this year, RCbank introduced a range of cutting-edge Electronic Banking (E-Banking) products and services, including Pre-Paid Cards, Visa Cards, and Cardless Automated Teller Machines (ATMs).
Furthermore, plans are underway to extend these user-friendly and highly secure banking cards to other institutions. The bank is also in the final stages of installing an additional 20 ATMs, supplementing its existing 15 across branches and outlets nationwide, thereby achieving the largest ATM network in the history of the Sierra Leonean banking industry.
