The Bank of Sierra Leone has approved the Rokel Commercial Bank’s Statements of Account – revealing a staggering NLE191, 627, 038 (One Hundred and Ninety-One Million, Six Hundred and Twenty Thousand and Thirty-Eight Cents) for the 2023 Financial Year.
Profit after tax is Nle142,802,319, eclipsing 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 NLe2.9Billion, indicating a 25% increase from NLe 2.35Billion recorded in 2022.
The growth in deposits has triggered a significant growth in the bank’s balance sheet from NLe3.2Billion in 2022 to NLe3.8Billion in 2023, representing a 18.75% increase respectively. Total earnings per share also grew from NLe0.76 per share (2022) to NLe1.56 per share (2023).
In September this year, the 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 had 15 to 35 years of unbroken record of service.
In each of these events, the Managing Director, Dr Walton Ekundayo Gilpin, re-echoed a renewed sense of hope and commitment in expanding and making Rokel Commercial Bank a dominant force in the sub-regional finance industry.