By Amin Kef Sesay
The Bank of Sierra Leone has released the 2020 audited financial statements of the Rokel Commercial Bank and the report shows that the bank has hit another significant milestone in its transformational trajectory.
The bank has recorded a profit (before tax) of 83, 566, 323 Billion Leones, (Eighty Three Billion, Five Hundred and Sixty Six Million, Three Hundred and twenty three thousand Leones). This represents a 5% increase from its 79, 439,041 Billion Leones profit in 2019.
These enviable profit margins have been made possible in the midst of a COVID-19 ridden economy. Thanks to an efficient and effective management system put in place by the Government of Sierra Leone. With very impressive prudential statistics in the last three years, the bank is now rated among the fastest growing banks in Sierra Leone and the West African sub-region
The bank’s retained earnings increased from Le966M in 2019 to Le 44Billion in 2020. This in effect means the bank is now extremely financially stable and has significantly cleared off its retained loses.
