Repositioning the Rokel Commercial Bank - Sierraloaded News


Wednesday, 27 September 2017

Repositioning the Rokel Commercial Bank


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 The Rokel Commercial Bank will be celebrating its 18th Anniversary this weekend. While the launching of a new logo will not only enforce the bank’s corporate profile, recent events are pointing towards a positive direction as the bank, under a new leadership is repositioning itself to bolster its performance through expanding and streamlining its operations in an increasingly competitive environment.

 In a recent visit to some of the bank’s branches by the National Commission for Privatization, it emerged that some of these branches in the regions have started or are in pole positions to make profit.
It is obvious the challenges of the past did not dampen the spirit of government which is the prudential shareholder of the bank to sanction the setting up of a tripartite body that has expeditiously worked to revamp what is now set to become Sierra Leone’s biggest indigenous bank.

The Ministry of Finance and the Bank of Sierra Leone have both played pivotal roles to ensure the survival of the bank and to their credit, they are the reason we still have a bank like Rokel today.
Dayo Gilpin, the new Managing Director is a seasoned, internationally recognized financial expert with over two decades experience managing complex policies and processes in banking and banking-related institutions in Africa, Europe, South Pacific, Caribbean and the United States.

As a senior advisor to the Commonwealth Secretariat in the United Kingdom, he managed significant financial management initiatives that formed the basis of effective and sustainable reform strategies in more than 25 countries. Walton provided technical input into complex interactions with international partners, such as the International Monetary Fund and World Bank, and was instrumental in banking and financial research analysis, having worked in the Bank of Sierra Leone. At the Commonwealth Secretariat, he supported the Secretariat’s advisory services and led technical initiatives on banking, debt and financial issues. He has worked on projects for reputable organizations such as the International Monetary Fund, World Bank, Crown Agents, African Development Bank and the United Nations Development Programme. He has contributed to critical and intellectual development in banking, finance and debt management.

Dayo Gilpin came with a rich knowledge in both domestic and international banking, and has already started to impress the bank’s stakeholders. Therefore, when the Chairman of the NCP, Sulaiman Kabba Koroma at a meeting with the bank’s management reposed confidence on the new leadership of the bank, it became apparent that Giplin and his team must also work hard to justify such a high-level vote of confidence.

On the sidelines, it was also discovered that the bank has developed an ambitious plan that would herald the introduction of new products and services. There are ongoing efforts to improve the IT Infrastructure with a modern bank operating software and electronic banking. A heightened sense of urgency to prevent errors, theft and fraud as well as to enhance the general security systems of the bank can only point at the fact that, Rokel Commercial Bank has not been oblivious of the need to stand tall and have a competitive edge on the market.

Rokel Bank is growing and at a faster pace too. An effective customer complaint platform means the bank has employed a human face to its operations. This is critically essential as the general public will have further reasons to place their trust and confidence in a bank that has been more Sierra Leonean than any other. A disaster management and recovery system has been commissioned by the bank and is in effective use by the branches. Strict adherence to exchange control procedures will seek to ensure adequacy of documentation for the banks’ customers.

In a bank where dormant accounts are reactivated only with approval of management, it only makes sense to conclude that the Rokel Commercial Bank treading a glorious that would awaken the hopes of Sierra Leoneans.

Named after the great Rokel River, the Rokel Commercial Bank is regaining its past glory as the bank of the people.

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