Freetown, 12th January 2026- Rokel Commercial Bank (RCBank) has recorded one of the most remarkable financial performances in Sierra Leone’s banking history, according to the 2024 financial statements released by the Bank of Sierra Leone. The figures reveal unprecedented growth despite mounting competition and external shocks in global financial markets.
The bank’s most notable achievement is a 200% leap in share capital, rising from Le91.4 billion (old Leones) to Le274.4 billion (old Leones). This milestone was driven by a profit before tax of Le192.8 billion and a profit after tax of Le143.9 billion (old Leones), underscoring RCBank’s resilience and strategic leadership.
In 2024, the Bank of Sierra Leone set a minimum capital requirement of Le274,455,866 billion for all commercial banks by the end of 2027. RCBank became the first bank to meet this threshold in the same year, demonstrating its financial strength and proactive compliance.
Beyond domestic growth, RCBank has set its sights on regional expansion. In November 2024, 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, while analyzing market data and potential partnerships.
This initiative forms part of RCBank’s long-term vision to position Sierra Leone as a key financial player within ECOWAS, exporting its innovative banking services across West Africa. A successful entry into Liberia would not only boost RCBank’s assets and profits but also enhance Sierra Leone’s regional financial standing.
As RCBank prepares for its Fifty-Second Annual General Meeting on Tuesday, January 20, the bank’s trajectory reflects steady growth anchored in focused leadership and strategic foresight. With strong financials, early compliance with regulatory capital requirements, and ambitions for regional expansion, RCBank is poised to remain a dominant force in Sierra Leone’s banking sector and beyond.
