RCB Reports Impressive Le94 Billion Profit Amidst Economic Challenges and Digital Expansion

In the midst of unprecedented digital expansion and a challenging global economic climate, Rokel Commercial Bank has recorded a remarkable profit of Le94 billion (Old Leones), as approved by the Bank of Sierra Leone. This profit marks a significant 5.96% increase from the Le88 billion (Old Leones) profit earned in 2021.

The bank’s customer deposits also exhibited substantial growth, surging from Le1.7 trillion (Old Leones) in 2021 to Le2.4 trillion (Old Leones) in 2022. While the 2023 balance sheet is yet to be disclosed officially, reliable sources indicate that Rokel Commercial Bank is poised to announce a record-breaking profit of approximately Le200 billion (Old Leones) for this year. This achievement is particularly remarkable in the face of a harsh global economic environment that has inevitably impacted the local economy.

Undoubtedly, Rokel Commercial Bank remains unwavering in its pursuit of becoming the largest and most digitally advanced financial institution not only in Sierra Leone but also in the entire sub-region.

In September of this year, Rokel Commercial Bank made a resounding statement of intent. The bank’s commitment to becoming Sierra Leone’s most forward-looking financial institution was explicitly showcased with the launch of a series of high-end, user-friendly, and highly secure Electronic Banking (E-Banking) products and services.

Currently, the bank boasts the highest number of branches and cash points nationwide, resulting in a significant increase in its customer base. In September, RCbank introduced several Electronic Banking (E-Banking) offerings, including Pre-Paid Cards, Visa Cards, and cardless Automated Teller Machines (ATMs).

As part of its expansion plans, the bank is actively working to extend these user-friendly and highly secure banking cards to other institutions. Furthermore, Rokel Commercial Bank is in the final stages of installing an additional 20 ATMs, augmenting its current stock of 15 ATMs at branches and outlets throughout the country. This achievement will establish Rokel Commercial Bank as the institution with the largest network of ATMs in the history of the Sierra Leone banking industry.