Corporate Governance

CalBank (Ghana Stock Exchange: ‘CAL’) announces its unaudited results for Half Year 2018.

HY 2018 Unaudited Results

Accra, Ghana – 13th July, 2018

CalBank (Ghana Stock Exchange: ‘CAL’) announces its unaudited results for Half  Year 2018.       

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

Profit & Loss

  • Net Interest Income grew by 14.5% from GHS 162.8m to GHS 186.4m
  • Operating Income increased by 3.5% to GHS 233.7m (GHS 225.8m in HY 2017)
  • Net impairment Loss decreased by 38.0% to GHS 21.5m from GHS 34.7m in HY 2017
  • Operating expenses increased by 17.5% to GHS 105.3m (GHS 89.6m in HY 2017)
  • Profit before Income tax increased by 5.3% to GHS 106.9m (GHS 101.5m in HY 2017)
  • Profit after Income tax increased by 3.8% to GHS 76.2m (GHS 73.5m in HY 2017)
  • Cost/Income Ratio increased to 45.1% from 39.7% in HY 2017


Balance Sheet

  • Total Assets increased by 14.2% to GHS 4.7b (GHS 4.1b in HY 2017)
  • Loans & Advances increased by 12.1% to GHS 2.1b (GHS 1.9b at HY 2017)
  • Total Deposits increased by 14.6% to GHS 2.9b (GHS 2.5b in HY 2017)
  • Borrowings increased by 1.9% to GHS 880.1m (GHS 863.7m in HY 2017)
  • Capital Adequacy ratio increased to 21.5% (20.3% in HY 2017)
  • NPL ratio decreased to 9.9% (12.6% in HY 2017)


Shareholder Ratios

  • ROAA was 3.5% (4.0% in HY 2017)
  • ROAE was 23.0% (26.2% in HY 2017)
  • Price-to-Book ratio increased to 1.13 (0.82 in HY 2017)
  • EPS was 9.2% to GHS 0.12 (GHS 0.13 in HY 2017)

Click to read the half year unaudited results for 2018





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. CAL Brokers Limited is a locally incorporated securities broker and a licensed dealing member of the Ghana Stock Exchange. CAL Asset Management Company Limited is licensed as a fund manager and investment advisor by the Securities & Exchange Commission of Ghana. CAL Bank 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: /

Click to read the unaudited consolidated financial statements for the Half  Year 2018.


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