Rokel Commercial Bank (RCBank) has firmly established itself as one of Sierra Leone’s most respected and trustworthy financial institutions. With a legacy spanning more than a century, the bank continues to lead the nation’s banking sector through innovation, stability, and a strong commitment to financial inclusion and national development.
Founded in 1917 as Barclays Bank of Sierra Leone, the institution was transformed into Rokel Commercial Bank in 1999 after extensive discussions between the outgoing Barclays PLC and the government of Sierra Leone. Today, the bank operates an expansive branch network and offers a wide range of products and services to individuals, businesses, and communities across the country.
Recently, RCBank was approved by the Bank of Sierra Leone (BSL) to take over the operations of Union Trust Bank (UTB) following a resolution order of UTB by the central bank.
“This acquisition ensures that a strong, stable, and well-capitalised institution will assume UTB’s operations, providing continuity and long-term security for depositors,” BSL said in a statement.
Analysts say the move underscores RCBank’s reputation as a financially strong and stable institution capable of safeguarding customer funds, ensuring service continuity, and supporting long-term depositor security.
Bank officials and financial analysts have further noted that such an acquisition reflects the confidence that regulators and stakeholders have in RCBank’s ability to uphold stability in the banking sector. The central bank assured the public that all UTB depositors’ funds remain fully protected and that services will continue without disruption as RCBank smoothly integrates the operations.
But behind the bank’s success is its Managing Director and CEO, Dr. Walton Ekundayo Gilpin, a distinguished leader in Sierra Leone’s banking industry. Under Dr. Gilpin’s leadership, RCBank has achieved remarkable milestones that have strengthened its market position and expanded its services.
To start with, Dr. Gilpin’s reappointment by President Julius Maada Bio to lead the bank is a testament to the confidence placed in his strategic vision. Under his stewardship, RCBank more than doubled its operating capital while surpassing targets set by the Bank of Sierra Leone, demonstrating strong financial performance.
His leadership extends beyond national borders. Dr. Gilpin also serves as chairman of the African Leadership Council (Sierra Leone Chapter), a position that recognizes his influence and commitment to economic growth and business development at the continental level. He has also received notable awards for banking excellence, including recognition as Best Managing Director in Sierra Leone’s banking sector and international honors for his contributions to finance and leadership.
RCBank’s impact goes beyond traditional banking. The bank actively supports media and civil society groups, educational programs, and youth-focused initiatives, earning multiple awards for its service to national development. Its emphasis on financial inclusion, through expanded branch networks, digital banking solutions, ATMs, and mobile banking applications, has brought banking services closer to underserved populations across Sierra Leone.
In the past ten years, RCBank has significantly expanded its reach by rolling out agency banking to rural farming communities and establishing branches in both hard-to-reach areas and major urban centers like Cline Town and Waterloo. These efforts have successfully streamlined financial services for underserved and unbanked communities across the country.
Marking its 25th anniversary since succeeding Barclays Bank, the bank, under the leadership of Dr. Gilpin demonstrated an unusual corporate philanthropy by visiting several vulnerable communities to donate foodstuff and other essential items to the poor and needy.
Furthermore, the bank’s top executives have explored potential expansion opportunities in neighboring Liberia. All these initiatives represent a crucial step in reconnecting communities with reliable financial services and fostering economic growth in historically important neighborhoods.
In an era where financial institutions are judged not only by their profits but also by their societal contributions, RCBank stands out as a model of excellence. Its consistent performance, growth, and community engagement have positioned it as one of Sierra Leone’s most trusted banking institutions. And with Dr. Gilpin at the helm, RCBank continues to push boundaries, championing innovation, empowering customers, and contributing to the nation’s economic growth.
As RCBank embraces new opportunities and expands its reach, its story serves as a reminder that vision, resilience, and leadership can transform institutions into powerful drivers of national progress.
