By Sallieu S. Kanu
The Bank of Sierra Leone has approved the Rokel Commercial Bank ((RCBank) Statements of Account, revealing a staggering NLe191, 627, 038 (One Hundred and Ninety-One Million, Six Hundred and Twenty Thousand and Thirty-Eight Cents) profit for the 2023 Financial Year. Profit after tax is Nle142,802,319, exceeding the NLe69,48,024 the previous year.
This significant achievement represents a 104% increase from the NLe94 million recorded in 2022. Consequently, customer deposits rose to NLe2.9 billion indicating a 25% increase from NLe 2.35 billion recorded in 2022. The growth in deposits has triggered significant growth in the bank’s balance sheet from NLe3.2 billion in 2022 to NLe3.8 billion in 2023 representing an18.75% increase, respectively. Total earnings per share also grew from NLe0.76 per share (2022) to NLe1.56 per share (2023).
In September this year, RCBank Celebrated its 25th Anniversary after a smooth transition from Barclays Bank Plc in 1999 which had operated the bank for nearly a century. The celebrations were marked by several indoor and outdoor activities including Christian and Muslim thanksgiving services and a special event to recognize staff who have served the bank for a period ranging from 15 to 35 years. In each of these events, the Managing Director, Dr Walton Ekundayo Gilpin re-echoed a renewed sense of hope and commitment to expanding and making Rokel Commercial Bank a dominant force in the subregional finance industry.