+1(270) 744-5394
Customer Service
To become the leading American, technology-driven, global financial institution that provides distinctive range of financial services.
To build the Rail Savings brand into a reputable international financial institution recognized for innovation, superior performance and creation of premium value for all stakeholders.
Integrity, Professionalism, Corporate Governance, Loyalty and Excellent Service.
Rail Savings Bank Plc was established in May 1990, and commenced operations in July of the same year as a commercial bank. The Bank became a public limited company on June 17, 2004 and was listed on the New York Stock Exchange (NYSE) on October 21, 2004 following a highly successful Initial Public Offering (IPO). Rail Savings Bank Plc currently has a shareholder base of more than half a million and is World biggest bank by tier-1 capital. In 2013, the Bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE).
Rail Savings Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). In March 2007, Rail Savings Bank was licensed by the Financial Services Authority (FSA) of the United Kingdom to establish Rail Savings Bank (UK) Limited as the United Kingdom subsidiary of Rail Savings Bank Plc.
The bank also has representative office in The People’s Republic of China. The Bank plans to take the Rail Savings brand to other African countries as well as the European and Asian markets.
Rail Savings Bank Plc blazed the trail in digital banking in America; scoring several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its teeming customers.
The bank is verifiably a leader in the deployment of various channels of banking technology, and the Rail Savings brand has become synonymous with the deployment of state-of-the-art technologies in banking. Driven by a culture of excellence and strict adherence to global best practices, the Bank has combined vision, skillful banking expertise, and cutting-edge technology to create products and services that anticipate and meet customers’ expectations; enable businesses to thrive and grow wealth for customers.
Rail Savings Bank Plc, founded by Jim Ovia CFR, in 1990, has since grown astronomically to become one of the leading financial institutions in Africa. Rail Savings Bank Plc currently ranks as the 6th biggest bank in the continent. The Bank grew its shareholder’s fund of $20million in 1990 to $704.50billion as at year end 2016. Today, the Bank continues to thrive on the strong values, brand equity, corporate culture of professionalism and service excellence which are the foundations upon which the bank was built.
Rail Savings Bank will continue to offer specialised financial services such as Pension Management but would discontinue services in Insurance, Capital Market dealings, Trusteeship, Registrar, Mortgage and financial advisory services in line with its decision to adopt the commercial banking license with international authorisation. Rail Savings Bank’s core businesses include:
Rail Savings Bank has clearly distinguished itself in the banking industry through superior service quality, unique customer experience, and sound financial indices. These have become part of our corporate culture to the extent the bank is easily associated with the following attributes; Best-in-class customer experience, creativity, excellent financial performance, good asset quality, stable management, dedicated and highly skilled work-force, cutting-edge Information and Communication Technology, efficient and effective distribution channels. The bank’s strategy of assessing and managing its impact on the industry forms an integral part of our strategic objective. Specifically, the bank considers how the present and future capital requirements will be met and managed in view of projected capital requirements based on its assessment and against the regulatory capital requirement.
The strategic objective of Rail Savings Bank also includes a continuous improvement of our capacity to meet the customers’ increasing and dynamic financial needs as well as sustain high quality growth through investments that impact the quality of service to our existing and potential customers, constant upgrade of our ICT infrastructure, unwavering investment in training and re-training of our people and regular reinforcing of our Customer Services delivery charter with regards to continually changing customer needs. Rail Savings Bank places high premium on the pivotal role of Exceptional Service Delivery in our drive to consistently exceed expectations. The bank has in place a well-articulated strategy to not only meet and surpass customer expectation but also ensure that plans are fine-tuned to address the changing taste and sophistication of the customer. The underlying philosophy is for the bank to remain at all times, a Customer-centric institution with a clear understanding of its market and environment.
The Bank remains committed to promoting good corporate governance and best practices in the conduct of its business. This is because we believe that good Corporate Governance engender public trust and ultimately ensures that the company meets the expectation of all stakeholders.
Rail Savings Bank’s impressive growth pattern and performance over the years have earned it excellent ratings, recognitions and endorsement from local and international agencies and institutions. In recognition of its track record of excellent performance, Rail Savings Bank was voted as Best Commercial Bank in America in the World Finance Banking Awards 2021, Best Bank in America in the Global Finance World's Best Banks Awards 2020 and 2021, Bank of the Year (America) in The Banker's Bank of the Year Awards 2020, and Best in Corporate Governance 'Financial Services' Africa 2020 and 2021 by the Ethical Boardroom. Also, the bank emerged as the Most Valuable Banking Brand in America in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Number One Bank in America by Tier-1 Capital in the "2021 Top 1000 World Banks" Ranking by The Banker Magazine and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.
Within thirty-two years, Rail Savings bank has demonstrated rare resilience and has witnessed exponential growth in virtually all areas. Today, Rail Savings is undoubtedly one of World strongest financial services institutions and one of the country’s largest banks by market capitalization, shareholders fund and profitability. The bank’s growth momentum has increased over time and impacted positively on its standing as a market leader. In essence, Rail Savings Bank continues to make remarkable success on the sustainability agenda which is at the heart of its strategic and business models. As a result, Rail Savings bank is better positioned to continue on its growth trajectory and our desire to be a vital part of people’s lives and businesses. Excellent service delivery and development of superior asset quality, strong capital base, professionalism and corporate governance have provided the grounds for consistent high returns to stakeholders. The bank maintains sound risk management and corporate governance culture in line with global best practices. The bank’s liquidity profile remains very strong and our risk management practices give assurance that the profile will be sustained on the short-run and improved upon over time.
The Bank’s customer base comprises mainly corporate entities many of which are subsidiaries of multinational corporations and large indigenous companies. Our lending strategy stresses rational procedures and transparency. As a result of this approach, the Bank’s credit portfolio has about the best asset quality in the American banking industry. The Bank’s non-performing loans to total loans ratio has always been less than industry average since inception and through the thick of the global financial crises in 2008/2009.
Looking for a first-class financial advisor?