By Musa Bendu
The Rokel Commercial Bank has had an enviable growth trajectory in the last three years and 2019 is another fruitful year in the life of one of Sierra Leone’s biggest indigenous banks.
Despite an unfavourable global economic climate, the RCB’s management has utilized every available opportunity to change the narrative of a bank known for a tumultuous past.
In 2018, the bank made Le66 billion profit after tax – which accounts for 30% increase from Le52 billion profit after tax in 2017. Profit before tax was Le79 billion – a significant leap from the Le62 billion profit in 2017. Customer deposits increased from Le770 billion in 2017 to 873 billion in 2018. The 2019 Balance Sheet will be available next year and there are signs the bank will significantly increase its profits.
Rokel Commercial Bank is a champion for financial inclusion in Sierra Leone and revolutionary mobile based products like the Rokel Sim Korpor has taken banking to virtually every corner of the country. Targeting schools through sponsored national debating competitions on financial literacy has invariably helped broaden the knowledge base of a critical mass of young people on financial issues.
Perhaps, the bank’s recognition as the most adhering to corporate social responsibility is indeed a validation of its vision to change lives making a big difference in society. Incredibly, there has been no financial institution that has surpassed the Rokel Commercial Bank in both local and international recognition over the last two years with the RCB receiving over 20 awards from very reputable indigenous and international organizations.
In the words of Managing Director, Dr. Dayoh Gilpin, “We are setting our footprints on the sands of time…we know exactly where we want to go as a bank and we believe our passion to succeed is not fuelled by the desire to make profits, it is our desire to complement government’s economic development policies. This is of existential relevance to whatever we do to attain middle income status by 2035…”