By Salllieu S. Kanu
Freetown, Sierra Leone – January 2026: Rokel Commercial Bank (RCBank) has posted unprecedented financial growth for the year 2024, according to figures released by the Bank of Sierra Leone. The report highlights a remarkable leap in share capital and strong profitability despite external shocks in global financial markets.
The bank’s share capital surged from Le91.4 billion (old Leones) to Le275.4 billion (old Leones), representing a 200% increase. This milestone was achieved on the back of a profit before tax of Le192.8 billion and a profit after tax of Le143.9 billion.
RCBank also recorded significant growth in its core operations:
- Loans and advances rose by 33%, amounting to Le702.2 billion.
- Customer deposits increased by 13%, climbing from Le2.9 billion in 2023 to Le3.3 billion.
- Shareholder equity grew by 33%, reaching Le951.5 billion.
As the institution prepares for its Fifty-Second Annual General Meeting scheduled for Tuesday, January 20, 2026, management emphasized that the steady trajectory of growth reflects focused leadership and strategic planning.
It could be recalled that in 2024, when the Bank of Sierra Leone set a minimum capital requirement of Le274,455,866 billion for all commercial banks by 2027, RCBank became the first institution to meet that threshold within the same year.
Looking ahead, RCBank has set its sights on regional expansion. In November 2025, a high-powered delegation led by Managing Director Dr. Walton Ekundayo Gilpin visited Liberia to explore opportunities for establishing a banking presence. The team engaged with key Liberian officials, including the Governor of the Central Bank and the Minister of Finance, and held discussions with potential partners.
This initiative forms part of RCBank’s long-term vision to expand across the ECOWAS subregion and position Sierra Leone as a key financial player in West Africa. A successful entry into Liberia is expected to boost the bank’s assets and profitability while strengthening Sierra Leone’s regional financial standing.