By Politico Staff Writer
Both Sierra Leone Commercial Bank (SLCB) and Rokel Commercial Bank (RCB) have recorded a dividend of over 26 billion Leones for the year 2021.
This became known as both banks presented their dividends to President Julius Maada Bio at State House, Freetown on Thursday 2nd December 2021 at State House in Freetown.
The Minister of Finance, Dr. Dennis Vandy said that the two banks were presenting their dividends with the government being the owner of SLCB and partly owning the RCB.
Acting Director of SLCB, Bockarie Kalokoh said that the bank’s performance began to peak after the year of 2018 and that the presentation of their dividend is a manifestation that they are performing well in the banking sector.
The Acting Director said that since 2018 their profit quadrupled from 5.1 billion in 2018 to Le 20.2 billion in 2021.
The RCB’s Deputy Managing Director, Emmanuel Borbor said that his institution which is owned 65 percent by the government had a turbulent financial issue in the years leading to 2018 but that they have now gained their full potential. He added that they are proud to present their dividend to the government for the first time.
He affirmed that they failed to make profit for the year 2017 and 2018 but that their efforts have paid off as they have improved over the years. He said they wish to replicate their success in future years.
The Deputy Managing Director said they are trying their best to improve their systems and lead in the digital space in line with international standards that will take banking to the doorsteps of the people.
He furthered that the bank is now visible in almost all the districts in the country and that had played a key role in ensuring that they present the sum of Le 6,246,091,731.85 (Six billion, two hundred and forty-six million and ninety-one thousand, seven hundred and thirty-one Leones and eighty-five cents).
President Bio, in his statement, expressed his delight for the success of the two banks and added that they now serve as inspiration to other Sierra Leonean institutions.
He encouraged both banks to pay keen attention to these financial transactions and at the same time extended his thanks and appreciation to board members, management and staff of the entities.
Copyright © Politico Online 03/12/21
