Bank of Sierra Leone Puts UTB Into Resolution, Rokel Bank to Take Over

The Bank of Sierra Leone has placed Union Trust Bank (UTB) Limited into resolution after a detailed review of the bank’s operations. The decision, announced on December 8, 2025, was taken under the Banking Act 2019 to protect customers and keep the country’s financial system stable.

According to the public notice made by the Bank of Sierra Leone, Rokel Commercial Bank (RCB) has been chosen to take over UTB’s business. Rokel Bank will assume full control once the transition process is completed. Until then, a caretaker management team appointed by the Bank of Sierra Leone will temporarily run UTB.

The Bank of Sierra Leone assured that all customer funds remain safe, and people can continue using their accounts and banking services without any interruption. The central bank stressed that the entire process is carefully planned to avoid any inconvenience to customers.

Public notice of the Resolution of Union Trust Bank (UTB) Limited and Appointment of Caretaker Management Team released by The Bank of Sierra Leone.

Officials say the takeover will strengthen the sector by placing UTB’s operations under a stronger and well-capitalized institution. They also confirmed that UTB employees will be absorbed into Rokel Commercial Bank as the integration progresses.

The central bank encouraged the public to continue their normal banking activities, assuring everyone that it is committed to protecting depositors and keeping confidence in the financial system.