Rokel Commercial Bank (RC Bank) has reported an after tax profit of NLe142.8 million. This is an improvement over the NLe69.4m recorded the previous year. NLe94 Million was recorded in 2022, a 104% increase from the previous year. Customers’ deposits rose to NLe2.9Billion, indicating a 25% increase from NLe 2.35Billion recorded in 2022.

The growth in deposits has triggered a significant growth in the bank’s balance sheet from NLe3.2Billion in 2022 to NLe3.8Billion in 2023, representing a 18.75% increase respectively. Total earnings per share also grew from NLe0.76 per share (2022) to NLe1.56 per share (2023).

RCBank recently celebrated its 25th Anniversary after a smooth transition from Barclays Bank Plc in 1999, which had operated the bank for nearly a century.

The celebrations were marked by several indoor and outdoor activities, including Christian and Muslim thanksgiving services and a special event to recognizing staff who have had 15 to 35 years of unbroken record of service. Managing Director of Rokel Bank. Dr Walton Ekundayo Gilpin re-echoed a renewed sense of hope and commitment in expanding and making Rokel Commercial Bank a dominant force in the subregional finance industry.