From the Editor’s Keyboard

Sierra Leone Commercial Bank tops performance rating

7 August 2019 at 16:43 | 1563 views

By Babatunde Sesay, Guest Writer, Freetown

Under the leadership of Managing Director Fidelis Turay (photo) and Deputy Managing Director Bockarie Kalokoh, the nation’s oldest state-owned financial service provider, Sierra Leone Commercial Bank (SLCB) has once again impressively topped the Central Bank’s second quarterly performance rating.

SLCB also topped this year’s first quarterly performance rating, as it did for the past two years. For 2017, the bank made a pre-tax profit of over Le100 billion.
SLCB’s pride of place in the country’s commercial banking sector derives from the decision of management and board some years back to take a bold leap forward into the age of digitalization, internet banking and taking the bank to the doorsteps of the previously unbanked in the rural and urban areas of Freetown.

A move that will eventually be cascaded countrywide as the bank seeks to dramatically increase its customer base to capture the grassroots. With the new product, Mi Yone Internet banking Kiosk that has taken banking to the people of Adonkia in Goderich, Wilberforce and Jui, SLCB has in the last two years captured thousands of new customers.

The two new digital age products: ‘Mi Yone SLCB Teller’ and ‘Mi Yone SLCB Kiosk’ are SLCB’s stride to supporting the Government of Sierra Leone build a stronger economy through reaching the unbanked with appropriate products. Over the past five years, SLCB has invested immensely towards the digitalization of the Bank.
‘Mi Yone SLCB Kiosk’ is a digital non-brick and mortar banking solution that is designed specifically to target the unbanked population and increase SLCB’s access points to drive financial inclusion in the country.

This will enable the Bank to increase penetration of basic banking services to the doorstep of the people and its customers. Since the kiosks were opened in 2018, the bank has been inundated with new customer accounts and deposits. Staff report that the recent unbeatable performance by SLCB has a lot to do with the cordial relationship shared by the MD, management, board and staff that motivate everybody to work as a team towards the achievement of outlined organizational goals.

As a credible credit worthy financial institution, since its establishment in 1973 by the Government of Sierra Leone as its sole shareholder, SLCB under successive managements and board of directors has maintained a leading position as the country’s largest financial service provider to individuals, SMEs, large corporations, industries and embassies.

Speaking with this reporter, the Deputy Managing Director, Mr. Bockarie Kalokoh revealed that the bank is making all these strides because of team work.
“We are working as a team and we will work very hard to maintain the standard of the bank and top position in the financial industry”. Kalokoh noted.

SLCB with its headquarters on Siaka Stevens Street in Freetown has branches in Freetown, Bo, Kenema, Makeni, Koidu, Cline Town, Mobimbi, Njala, and Waterloo.
It offers online banking, current accounts, savings accounts, fixed deposits, foreign currency accounts, loans and advances, investment management, and money transfer services.