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Sierra Leone News : As it Publishes Annual Financial Statement...Sierra Leone Commercial Bank Tops Again
May 31, 2017, 17:00
Auditors KPMG-Sierra Leone has certified that the Sierra Leone Commercial Bank stands on sound financial footing. In its annual reviews of commercial banks under its supervision, the Central Bank rates SLCB as one of the two leading financial institutions in the county.
For the year ending 31st December 2016, KPMG confirms that SLCB increased its revenue from Le80, 869, 720,000 in 2015 to Le113, 226,898,000 in 2016.
Profit after tax in 2016 was Le25, 153,973,000 as against Le3, 656, 591,000 in 2016.
|Acting MD SLCB: Idrissa Alooma Kamara|
This very impressive performance statement has been attributed to the groundwork done by out-gone Managing Director, Mr. Taylor. Together with the bank’s management team and staffs, the bank was able in the past three years to not only grow out of the red but also able to show record profits.
The Sierra Leone Commercial Bank’s record of continuing success since it was founded in February 1973, is eloquent testimony to the fact that where Sierra Leoneans with the relevant ability, training, experience and integrity are given an opportunity, they could perform equally if not better than anyone else.
And so it is with this Institution which must pride itself for being one of the few success stories among parastatals in this country that find it difficult to cope in the present hostile economic environment.
Effective collaboration between the Chairman, Board and Management and understanding of where the bank is are the key ingredients of the Sierra Leone Commercial Bank’s recent successes. Led by George Taylor who served the bank for nearly forty years and managed by a 100% Sierra Leonean team, SLCB perform with the relevant ability, training, experience and integrity.
In terms of geographic reach and balance sheet, it is the largest bank in the country. Including Bo, Moyamba, Kenema, Makeni, Kono, SLCB now boasts of thirteen self-owned branches.It is forecasted that with the very good managerial and administrative foundation lad by his predecessor, will continue to impressively under Acting Managing Director, the young, dynamic result oriented Mr. Idrissa Alooma Kamara, Acting Deputy Managing Director Bockarie Kalokoh, Head of Business Risk, Mr. Abdul Rahim Mujtabah, and the full support and cooperation of the Board of Directors, SLCB will continue to be a shiny beacon of Sierra Leonean competence and excellence in the commercial banking sector.
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