{"id":9539,"date":"2022-09-14T16:14:20","date_gmt":"2022-09-14T16:14:20","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit"},"modified":"2022-09-14T16:19:35","modified_gmt":"2022-09-14T16:19:35","slug":"rokel-commercial-bank-records-le88-billion-profit","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit","title":{"rendered":"Rokel Commercial Bank Records Le88 Billion Profit"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>By Abubakarr Harding<\/b><\/p>\n

The Bank of Sierra Leone has approved the 2021 Financial Statements of the Rokel Commercial Bank and the figures show why the bank is indisputably the fastest growing financial institution in Sierra Leone.<\/p>\n

According to the financial statements, the bank recorded a profit (before tax) of Le 88, 706,445 (Eighty-Eight Billion, Seven hundred and Six Million, Four Hundred and Forty-Five Thousand Leones) for the 2021 financial year. This represents a 6.1% increase from Le 83, 566,323 billion (profit before tax) in 2020.<\/p>\n

Profit after tax amounted to Le 65,814,471 (Sixty-Five Billion, Eight Hundred and Fourteen Million, Four hundred and Seventy-One Thousand Leones) as against the previous year\u2019s profit (after tax) of Le 57, 593, 377 (Fifty-Seven Billion, Five hundred and Ninety -Three Million, Three Hundred and Seventy-Seven Thousand Leones). The bank has also done extremely well with its prudential statistics as its positive retained earnings increased from Le 44 Billion in 2020 to over Le 77 Billion in 2021.<\/p>\n

In spite of the harsh global economic climate occasioned by the outbreak of the Corona epidemic and its consequent effects on the nations\u2019 economy, the Rokel Commercial Bank is on an upward growth trajectory with a very solid capital base.<\/p>\n

There are strong indications that the bank will also be paying a dividend that far exceeds the amount it paid to its majority and minority shareholders last year. With 56.80% Capital Adequacy ratio, its loan to deposit ratio is 27.36% which is within the Bank of Sierra Leone\u2019s minimum threshold.<\/p>\n

In more recent times, the bank has expanded its digital space with a new Core Banking System that is flexible but robust enough to serve its customers. It has also increased its loan portfolio through a life changing SME scheme that mainly targets the informal sector and this has been like a magic wand in the growth and success of the bank.<\/p>\n

\u201cWe want to make profit but we equally want to serve as an engine of growth in Sierra Leone. Therefore, we will continue to innovate and explore better opportunities that will create wealth and better livelihoods for citizens,\u201d said Rokel Commercial Bank\u2019s Managing Director, Amb Dr Ekundayo Gilpin.<\/p>\n

For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Sierra-Leone. By Abubakarr Harding The Bank of Sierra Leone has approved the 2021 Financial Statements of the Rokel Commercial Bank and the figures show why the bank is indisputably the fastest growing financial institution in Sierra Leone. According to the financial statements, the bank recorded a profit (before tax) of Le 88, 706,445 […]<\/p>\n","protected":false},"author":84,"featured_media":9538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[291,293,292],"class_list":["post-9539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nRokel Commercial Bank Records Le88 Billion Profit - Sierra Leone<\/title>\n<meta name=\"description\" content=\"By Abubakarr Harding The Bank of Sierra Leone has approved the 2021 Financial Statements of the Rokel Commercial ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rokel Commercial Bank Records Le88 Billion Profit\" \/>\n<meta property=\"og:description\" content=\"By Abubakarr Harding The Bank of Sierra Leone has approved the 2021 Financial Statements of the Rokel Commercial ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-14T16:14:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-14T16:19:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/09\/postQueueImg_7-6321ff05742d8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"958\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Rokel Commercial Bank Records Le88 Billion Profit\",\"datePublished\":\"2022-09-14T16:14:20+00:00\",\"dateModified\":\"2022-09-14T16:19:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit\"},\"wordCount\":366,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2022\/09\/postQueueImg_7-6321ff05742d8.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/rokel-commercial-bank-records-le88-billion-profit\",\"name\":\"Rokel Commercial Bank Records Le88 Billion Profit - 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