January 17, 2018
Sierra Leone’s premier indigenous bank, Rokel Commercial Bank, fondly known as RCBank, had begun a restructuring programme mid last year after the appointment of a new Managing Director, Dr Dayoh Gilpin. This came at the back of a burning desire by the government of Sierra Leone (as prudential shareholder) to recapitalize the bank and put it on a positive growth trajectory.
Dayoh Gilpin in his New Year’s message has catalogued the impressive contribution of his management team towards meeting an ambitious restructuring plan that has unwittingly amplified the renewed vigor on which the bank stands to streamline its activities.
Perhaps, the restructuring process which became visible following the launch of a new logo late last year signaled a desire to rebrand and expand its increasing customer base. “My focus and interest are in developing the Bank into the best banking institution in Sierra Leone and see RCBank grow beyond our shores. We hope that you’ve felt the impact of this vision as the RCBank brand continues to shine.” Dayoh Gilpin said the restructuring process had begun with the reintroduction of basic administrative ethics like regular meetings with staff, an open-door policy and staff rotation to broaden the skills of personnel. A substantial growth in new deposits between August and December last year has given Gilpin the belief that Rokel Bank will become unstoppable in 2018.
On structural reforms, the establishment of a marketing department with a robust marketing strategy has increased customer confidence, and this according to the MD can also not be unconnected to a paradigm shift in the overall operation and performance of each and every member of the bank. Apparently, the Bank’s IT infrastructure is being upgraded with the aim of making it second to none. RCBank can equally boast of new products and services like the innovative “Keke Account” which has already hit a strong fan base not only among tricycle owners but ordinary middle-income businesses.
Certainly, the Bank has not been oblivious of the need to stand tall and have a competitive edge on the market. A modern operating software and electronic banking to prevent errors, theft and fraud as well as to enhance the general security systems is being put in place. Also in the pipeline is the introduction of state of the art mobile banking software.
Dr. Dayoh Gilpin in his New Year’s Message sounded quite optimistic about the year ahead and assured all that “There is much more to come as RCBank expands the “rice and Palm Oil” issues with improvements to conditions of service, facilities, ambiance and ‘look and feel’ of all RCBank branches and more engagement with customers”
In the back of six RCBank awards including a “Best CEO” award since taking over in 2017, Dr. Dayoh Gilpin himself recently returned home with a Doctorate Degree (Honoris Causa) from the Commonwealth University.