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Rokel Commercial Bank (RC Bank) is set to take over the management of Union Trust Bank (UTB) after the latter was placed under resolution by the Bank of Sierra Leone (BSL), the central bank announced on 8 December 2025.
The move is in line with Section 69 of the 2019 Banking Act and Section 5(1)(c) of the Bank of Sierra Leone Act 2019.
In a press release, BSL stated that UTB’s placement in resolution follows a thorough supervisory review and forms part of a structured process to ensure continuity of banking services and protection of customer interests.
“Rokel Commercial Bank Limited has been approved as the acquiring institution for UTB,” the central bank said. “RC Bank will assume operations once transition arrangements are complete, ensuring smooth integration of services for all customers.”
BSL emphasized that the acquisition will place UTB’s operations under a strong, stable, and well-capitalized institution, providing long-term security for depositors. During the transition period, a BSL-appointed caretaker management team will oversee UTB’s affairs.
The central bank reassured customers and stakeholders that:
All depositors’ funds remain safe and fully protected.
Banking services will continue without disruption.
All UTB employees will be fully incorporated into RC Bank as part of the acquisition process.
The transition will be professionally managed to ensure service continuity.
BSL urged the public to continue their regular banking activities, reiterating its commitment to safeguarding depositors and maintaining the stability of Sierra Leone’s financial system.
Rokel bank-UTB
