Q3-2018 Unaudited Results

Accra, Ghana, 22^nd October 2018.

CalBank (Ghana Stock Exchange: ‘CAL’) announces its unaudited results for the Third Quarter

ended 30^th September 2018.

The Highlights of the Group’s Q3-2018 results (y/y) are:                   

Profit & Loss

• Net Interest Income grew by 10.3% from GHS 259.7m to GHS 286.5m
• Operating Income increased by 9.2% to GHS 320.6m (GHS 293.5m in Q3 2017)
• Net impairment Loss decreased by 20.2% to GHS 39.1m from GHS 49.1m in Q3 2017
• Operating expenses increased by 17.0% to GHS 160.1m from GHS 136.8m in Q3 2017
• Profit after Income tax increased by 0.9% to GHS 114.7m (GHS 113.6m in Q3 2017)
• Cost/Income Ratio increased to 44.5% from 39.9% in Q3 2017

Balance Sheet

• Stated Capital increased from GHS 100.0m to GHS 350.0m
• Total Assets increased by 29.0% to GHS 5.0b (GHS 3.9b in Q3 2017)
• Loans & Advances increased by 22.8% to GHS 2.3b (GHS 1.8b at Q3 2017)
• Total deposits increased by 16.4% to GHS 2.8b (GHS 2.4b in Q3 2017)
• Borrowings increased by 100.1% to GHS 1,339.1m (GHS 669.2m in Q3 2017)
• Capital Adequacy ratio marginally decreased to 22.0% (22.3% in Q3 2017)
• NPL ratio decreased to 7.4% (12.6% in Q3 2017)

Shareholder Ratios

• ROAA decreased to 3.4% (4.2% in Q3 2017)
• ROAE decreased to 21.8% (26.0% in Q3 2017)
• Price-to-Book ratio increased to 0.93 (0.90 in Q3 2017)
• EPS decreased by 5.8% to GHS 0.26 (GHS 0.28 in Q3 2017)

For further information please contact :

Dzifa Amegashie (Investor Relations) on damegashie@calbank.net or on (233) 302 685091