/ By admin / Blog/ • • • • • • • • • • • / 0 Comments

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.



Source link

/ By admin / Blog/ • • • • • • / 0 Comments

Former Minister’s Locally Produced Rice Hits Kenema Market


Locally produced rice, Eco Rice was made available for sale on Wednesday at Blama Centre at Ahmadiyya Junction in Kenema.

The company producing the rice is owned by former Sierra Leone’s Foreign Affairs and Chief Minister, David Francis.

Locals in Kenema have applauded the effort made by the former minister and his company to make the rice affordable. A bag is priced at NLe 600 and it also comes in 10kg for NLe 120.



Francis, at the start of the project, said the aim is to ensure agriculture is made enviable while also complimenting the effort of the President, Julius Maada Bio. Eco Rice is produced at Ngovokpahun Village located in Small Bo Chiefdom, Kenema District.

This is the second batch of the local rice to hit Sierra Leonean market after 444 acres of farmland rice was sold few years ago.

Addressing the public, the former minister said the success they have made in this short period is a testament that Sierra Leone could achieve food sustainability through agriculture.

He added that they are also engaged in pineapple, guava and other fruit and vegetable farming. He said that these produce do not only have economic benefits but also medicinal values.

The company is said to be leading in the area of mechanised farming and rice production. They successfully milled 1,000 bags bags of parboiled rice for the Ministry of Agriculture while providing technical support to local farmers as well.



Source link