{"id":6106,"date":"2025-12-12T07:37:36","date_gmt":"2025-12-12T07:37:36","guid":{"rendered":"https:\/\/apexnewssl.com\/?p=6106"},"modified":"2025-12-12T07:37:36","modified_gmt":"2025-12-12T07:37:36","slug":"taking-over-utb-bsl-reposes-confidence-in-dr-gilpins-leadership","status":"publish","type":"post","link":"https:\/\/apexnewssl.com\/?p=6106","title":{"rendered":"Taking Over UTB&#8230; BSL Reposes Confidence In Dr. Gilpin&#8217;s Leadership"},"content":{"rendered":"<p><strong>Aaron Parker<\/strong><\/p>\n<p>Rokel Commercial Bank (RC Bank) is set to take over the management of Union Trust Bank (UTB) after the latter was placed under resolution by the Bank of Sierra Leone (BSL), the central bank announced on 8 December 2025.<\/p>\n<p>&nbsp;<\/p>\n<p>The move is in line with Section 69 of the 2019 Banking Act and Section 5(1)(c) of the Bank of Sierra Leone Act 2019.<\/p>\n<p>&nbsp;<\/p>\n<p>In a press release, BSL stated that UTB\u2019s placement in resolution follows a thorough supervisory review and forms part of a structured process to ensure continuity of banking services and protection of customer interests. \u201cRokel Commercial Bank Limited has been approved as the acquiring institution for UTB,\u201d the central bank said. \u201cRC Bank will assume operations once transition arrangements are complete, ensuring smooth integration of services for all customers.\u201d BSL emphasized that the acquisition will place UTB\u2019s operations under a strong, stable, and well-capitalized institution, providing long-term security for depositors. During the transition period, a BSL-appointed caretaker management team will oversee UTB\u2019s affairs.<\/p>\n<p>The central bank reassured customers and stakeholders that:<\/p>\n<p>All depositors\u2019 funds remain safe and fully protected.<\/p>\n<p>Banking services will continue without disruption.<\/p>\n<p>All UTB employees will be fully incorporated into RC Bank as part of the acquisition process.<\/p>\n<p>The transition will be professionally managed to ensure service continuity.<\/p>\n<p>BSL urged the public to continue their regular banking activities, reiterating its commitment to safeguarding depositors and maintaining the stability of Sierra Leone\u2019s financial system.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aaron Parker Rokel Commercial Bank (RC Bank) is set to take over the management of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":6107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[9],"tags":[],"class_list":["post-6106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Taking Over UTB... 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