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Rokel Commercial Bank Deepens Liberia Expansion Talks with Embassy and Business Leaders |


Rokel Commercial Bank (RCB) is taking strategic steps toward expanding its operations into Liberia, with the bank’s Managing Director, Dr. Walton Ekundayo Gilpin, leading a high-powered delegation to the Sierra Leone Embassy in Monrovia as part of an ongoing feasibility mission.

The visit, welcomed by Head of Chancery Mrs. Sia A. Tejan, involved cordial and insightful exchanges with embassy officials. It forms part of RCB’s regional expansion strategy in line with President Julius Maada Bio’s vision for Sierra Leonean institutions to establish a presence across West Africa.

Dr. Gilpin emphasized the importance of the visit, noting that the bank had already met with key Liberian stakeholders including the Governor of the Central Bank and the Minister of Finance who were supportive of the initiative.



In addition to diplomatic engagements, Dr. Gilpin revealed that the delegation also held productive discussions with Liberian business leaders.

“As we continue to explore the potentials for business in Liberia, we also met with Liberian business leaders to share our vision,” he stated. “That engagement was crucial as far as directing our focus and making the decisions that would ultimately lead us to where we want to be as a bank.”

Deputy Ambassador Lusine Kallon commended the RCB team for their forward-looking approach, raising strategic questions which were ably addressed by Dr. Gilpin and Director of Internal Audit, Mr. Charles B.S. Sesay. Mr. Sesay further stressed the key role of the Embassy’s Trade Attaché, Mr. Faroog Cole, in connecting the bank with Liberia’s private sector.

As a token of goodwill, Dr. Gilpin presented copies of RCB’s corporate magazine to the embassy team. The Head of Chancery later handed them over to the Deputy Ambassador, who assured the delegation of the Embassy’s continued support.

The RCB delegation included senior officials from key departments such as Operations and Treasury, Enterprise Risk Management, Marketing, Finance, Public Relations, and Simkorpor Mobile Services, reflecting the bank’s broad-based commitment to exploring sustainable opportunities in the Liberian market.

This mission marks a significant milestone in RCB’s regional growth journey, positioning the bank as a leading force in West Africa’s financial services sector.

 



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Rokel Commercial Bank Deepens Liberia Expansion Talks with Embassy and Business Leaders


Rokel Commercial Bank (RCB) is taking strategic steps toward expanding its operations into Liberia, with the bank’s Managing Director, Dr. Walton Ekundayo Gilpin, leading a high-powered delegation to the Sierra Leone Embassy in Monrovia as part of an ongoing feasibility mission.

The visit, welcomed by Head of Chancery Mrs. Sia A. Tejan, involved cordial and insightful exchanges with embassy officials. It forms part of RCB’s regional expansion strategy in line with President Julius Maada Bio’s vision for Sierra Leonean institutions to establish a presence across West Africa.

Dr. Gilpin emphasized the importance of the visit, noting that the bank had already met with key Liberian stakeholders including the Governor of the Central Bank and the Minister of Finance who were supportive of the initiative.



In addition to diplomatic engagements, Dr. Gilpin revealed that the delegation also held productive discussions with Liberian business leaders.

“As we continue to explore the potentials for business in Liberia, we also met with Liberian business leaders to share our vision,” he stated. “That engagement was crucial as far as directing our focus and making the decisions that would ultimately lead us to where we want to be as a bank.”

Deputy Ambassador Lusine Kallon commended the RCB team for their forward-looking approach, raising strategic questions which were ably addressed by Dr. Gilpin and Director of Internal Audit, Mr. Charles B.S. Sesay. Mr. Sesay further stressed the key role of the Embassy’s Trade Attaché, Mr. Faroog Cole, in connecting the bank with Liberia’s private sector.

As a token of goodwill, Dr. Gilpin presented copies of RCB’s corporate magazine to the embassy team. The Head of Chancery later handed them over to the Deputy Ambassador, who assured the delegation of the Embassy’s continued support.

The RCB delegation included senior officials from key departments such as Operations and Treasury, Enterprise Risk Management, Marketing, Finance, Public Relations, and Simkorpor Mobile Services, reflecting the bank’s broad-based commitment to exploring sustainable opportunities in the Liberian market.

This mission marks a significant milestone in RCB’s regional growth journey, positioning the bank as a leading force in West Africa’s financial services sector.

 



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RCBank Announces Plans for Further Expansion in Sierra Leone


Since 2017, RCBank has demonstrated that local brands can compete both nationally and internationally through innovation and strategic growth.

Recently, RCBank opened a second branch in Bo and announced further expansion plans across Sierra Leone, aiming to strengthen its presence in provincial areas as well.

Mrs. Millicent Cole, Director of Credit Risk, recalled that in 1999, when the bank changed ownership, it was operating as a single branch after Barclays had closed all its locations. Today, RCBank boasts 21 branches, including outlets, and is the first bank in the country to have two branches in Bo City.



 

“We now have two branches in Bo City. Very soon, we will be opening two more branches, with another one before our next anniversary. When Barclays left, we had fewer than 100 employees, but today, we have over 500, a testament to the bank’s contribution to employment in Sierra Leone,” she stated.

She also expressed gratitude to God for blessing the bank with a great team and credited the dynamic and visionary leadership of Managing Director Dr. Walton Ekundayo Gilpin for the bank’s growth.

Managing Director Dr. Walton Gilpin emphasized the significance of an active banking sector for a thriving economy. He encouraged account holders to engage in various banking transactions beyond simple deposits and withdrawals, noting the range of services offered by RCBank, including banking cards, mobile apps for transactions, balance checks, and insurance payments.

Dr. Gilpin also underscored the bank’s commitment to reaching underserved areas, stating that RCBank has branches throughout the country and plans further expansion. His vision is to elevate Sierra Leone’s financial sector and extend RCBank’s presence beyond national borders. He highlighted RCBank’s pioneering step of opening a second branch in Bo, setting a precedent for other banks by enhancing service delivery.

By implementing strong risk management frameworks, adhering to regulatory requirements, and embracing digital innovation, RCBank has built credibility and established long-term stakeholder relationships. Dr. Gilpin stressed the importance of forging strategic partnerships and ensuring regulatory compliance to help Sierra Leonean banks strengthen their competitive position, drive sustainable growth, and contribute to the country’s economic development, as well as Africa’s.

RCBank (SL) Ltd. is now fully digital, in line with the theme of its 25th anniversary: “Digitalization Towards Customer Satisfaction,” focusing on bringing banking services to the grassroots.

As RCBank continues to expand, it is poised to become a key player in the financial landscape, attracting investors and positioning itself for success in Sierra Leone’s market.

RCBank – The Bank of Choice!



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Leveraging Expansion for Growth: RCBank Announces Plans for Further Expansion in Sierra Leone


Since 2017, RCBank has demonstrated that local brands can compete both nationally and internationally through innovation and strategic growth.

Recently, RCBank opened a second branch in Bo and announced further expansion plans across Sierra Leone, aiming to strengthen its presence in provincial areas as well.

Mrs. Millicent Cole, Director of Credit Risk, recalled that in 1999, when the bank changed ownership, it was operating as a single branch after Barclays had closed all its locations. Today, RCBank boasts 21 branches, including outlets, and is the first bank in the country to have two branches in Bo City.

 

“We now have two branches in Bo City. Very soon, we will be opening two more branches, with another one before our next anniversary. When Barclays left, we had fewer than 100 employees, but today, we have over 500, a testament to the bank’s contribution to employment in Sierra Leone,” she stated.

She also expressed gratitude to God for blessing the bank with a great team and credited the dynamic and visionary leadership of Managing Director Dr. Walton Ekundayo Gilpin for the bank’s growth.

Managing Director Dr. Walton Gilpin emphasized the significance of an active banking sector for a thriving economy. He encouraged account holders to engage in various banking transactions beyond simple deposits and withdrawals, noting the range of services offered by RCBank, including banking cards, mobile apps for transactions, balance checks, and insurance payments.

Dr. Gilpin also underscored the bank’s commitment to reaching underserved areas, stating that RCBank has branches throughout the country and plans further expansion. His vision is to elevate Sierra Leone’s financial sector and extend RCBank’s presence beyond national borders. He highlighted RCBank’s pioneering step of opening a second branch in Bo, setting a precedent for other banks by enhancing service delivery.

By implementing strong risk management frameworks, adhering to regulatory requirements, and embracing digital innovation, RCBank has built credibility and established long-term stakeholder relationships. Dr. Gilpin stressed the importance of forging strategic partnerships and ensuring regulatory compliance to help Sierra Leonean banks strengthen their competitive position, drive sustainable growth, and contribute to the country’s economic development, as well as Africa’s.

RCBank (SL) Ltd. is now fully digital, in line with the theme of its 25th anniversary: “Digitalization Towards Customer Satisfaction,” focusing on bringing banking services to the grassroots.

As RCBank continues to expand, it is poised to become a key player in the financial landscape, attracting investors and positioning itself for success in Sierra Leone’s market.

RCBank – The Bank of Choice!

The post Leveraging Expansion for Growth: RCBank Announces Plans for Further Expansion in Sierra Leone appeared first on Sierraloaded.



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RC Bank Hits Le94 Billion Profit Amid Unprecedented Expansion And Digitization


The Bank of Sierra Leone has approved the 2022 financial statements and balance sheet of the Rokel Commercial Bank, showing a staggering profit (before tax) of Le94BN (Ninety-four Billion Old Leones), representing a 5.96% increase from Le88BN. (Eight-Eight Billion Old Leones) profit in 2021.

Customer deposits also grew from Le1.7 Trillion (old Leones) in 2021 to Le2.4 Trillion (Old Leones) in 2022. While its 2023 balance sheet is yet to be reported, sources say RCbank is set to announce a record-breaking profit of aroud Le200 BN (Two Hundred Billion old Leones) this year. The bank has again pulled this through in the midst of a harsh global economic environment invariably affecting the local economy.

Clearly, the Rokel Commercial Bank is unrelenting in its pursuit to become the biggest and most digitalized financial institution in Sierra Leone and the entire sub region.



Currently, the bank boasts of the highest number of branches and cash points across the country triggering an exponential increase in customer base.  In September, this year RCbank launched a number of Electronic Banking (E-Banking) products and services, prominent among are Pre-Paid Cards, Visa Cards and cardless Automated Teller Machines (ATMS).

While plans are afoot to extend these user friendly and highly securitized banking cards to other institutions, the bank is completing the installation of 20 additional ATMs to its current stock of 15 at branches and outlets nationwide – leaving the Rokel Commercial Bank with largest spread of ATMS ever in the history of the Sierra Leone banking industry.



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