Corporate Governance

CalBank releases its Un-Audited Consolidated Financial Statements Q1’18

Q1-2018 Unaudited Results

Accra, Ghana, 25th April, 2018.

CalBank (Ghana Stock Exchange: ‘CAL’) announces its unaudited results for the First Quarter ended 31st March 2018.

The Highlights of the Group’s Q1-2018 results (y/y) are:

Profit & Loss
• Net Interest Income grew by 22.0% from GHS 73m to GHS 89.1med Income increased by 4.2% to GHS 82.
• Operating Income increased by 10.2% to GHS 116m (GHS 105.2m in Q1 2017)
• Net impairment Loss decreased by 9.4% to GHS 14.9m from GHS 16.4m in Q1 2017
• Operating expenses increased by 22.4% to GHS 52.2m (GHS 42.7m in Q1 2017)
• Profit before Tax increased by 5.9% to GHS 48.8m (GHS 46.1m in Q1 2017)
• Profit after Tax increased by 7.4% to GHS 34.1m (GHS 31.7m in Q1 2017)
• Cost/Income Ratio increased to 45.0% from 40.5% in Q1 2017

Balance Sheet
• Total Assets increased by 17.9% to GHS 4.6b (GHS 3.9b in Q1 2017)
• Net Loans & Advances increased by 12.8% to GHS 2.1b (GHS 1.8b at Q1 2017)
• Total Customer deposits increased by 17.3% to GHS 2.8b (GHS 2.3b in Q1 2017)
• Borrowings increased by 18.1% to GHS 908.7m (GHS 769.7m in Q1 2017)
• Capital Adequacy ratio increased to 21.8% (19.5% in Q1 2017)
• NPL ratio increased to 10.3% (9.2% in Q1 2017)

Shareholder Ratios
• ROAA decreased to 3.2% (3.5% in Q1 2017)
• ROAE decreased to 22.4% (23.5% in Q1 2017)
• Price-to-Book ratio increased to 1.25 (0.53 in Q1 2017)
• EPS grew by 7.4% to GHS 0.0622 (GHS 0.0579 in Q1 2017)

For further information please contact :


Philip Owiredu (Chief Financial Officer):                     +233 (0)302 680 264

Dzifa Amegashie (Head, Investor Relations):                +233 (0)302 685 091


Notes to the Editors:

The Bank commenced operations as a local merchant bank in 1990 with the sole aim of providing truly differentiated world-class banking solutions. CAL acquired a Universal Banking License in 2004 and in the same year undertook an initial public offer that was 4.5 times oversubscribed.

The operations of the Bank are backed by experienced managers in key functional areas with a combined experience of over 100 years in banking and finance. The CalBank team provides the required solutions to clients and is supported by a strong IT platform that has seen the Bank being recognized for its innovative products in ICT & Electronic Banking since 2007.

Operations and Subsidiaries

CalBank’s growth strategy is to focus on the growing Ghanaian corporate business sector. Since 2006, the Bank has developed its retail banking operations with specialized products and services to serve the needs of its growing retail clientele. The Bank currently has three wholly owned subsidiaries. CalBrokers Limited is a locally incorporated securities broker and a licensed dealing member of the Ghana Stock Exchange. CalAsset Management Company Limited is licensed as a fund manager and investment advisor by the Securities & Exchange Commission of Ghana. CalBank Nominees Limited (“CAL Nominees”) holds and administers assets as a custodian.

Branch Network

The Bank has embarked on an expansion program and will continue to expand its footprint by increasing the number of branches throughout the country. Internationally, CalBank benefits from strong correspondent banks all over the world. This enables us handle all international transactions quickly and effectively.

More information available at: /

Dzifa Amegashie (Investor Relations) on or on (233) 302 685091

Click to read the full consolidated financial statements for the quarter ended 31 March 2018.

CALBank 2018 Q1 Interim Financials


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