Corporate Governance

CalBank announces its Unaudited Results for the First Quarter 2020

Accra, Ghana, 27th April 2020.

The Highlights of the Group’s 1st Quarter 2020 results (y/y) are:  

Profit & Loss

·     Net Interest Income grew by 11.3% to GHS 131.4m from GHS 118.1m in Q1 2019

·     Operating Income increased by 2.6% to GHS 151.4m (GHS 147.6m in Q1 2019)

·     Net impairment Loss decreased by 60.5% to GHS 10.5m (GHS 26.7 m in Q1 2019)

·     Operating expenses increased by 16.1% to GHS 70.8m (GHS 61.0m in Q1 2019)

·     Profit before Tax increased by 17.1% to GHS 70.0m (GHS 59.8m in Q1 2019)

·     Profit after Tax increased by 17.1% to GHS 49.0m (GHS 41.8m in Q1 2019)

·     Cost/Income Ratio increased to 46.8% (41.3% in Q1 2019)

Balance Sheet

·     Total Assets increased by 32.9% to GHS 7.1b (GHS 5.3b in Q1 2019)

·     Net Loans & Advances increased by 17.0% to GHS 2.9b (GHS 2.5b in Q1 2019)

·     Total Customer deposits increased by 31% to GHS 3.8b (GHS 2.9b in Q1 2019)

·     Borrowings increased by 46.1% to GHS 1.9b (GHS 1.3b in Q1 2019)

·     Capital Adequacy ratio increased to 23.1% (17.9% in Q1 2019)

·     NPL ratio marginally increased to 9.7% (9.4% in Q1 2019)

Shareholder Ratios

·     ROAA decreased to 3.2% (3.4% in Q1 2019)

·     ROAE decreased to 21.3% (22.2% in Q1 2019)

·     Price-to-Book ratio decreased to 0.53 (0.92 in Q1 2019)

·     EPS grew by 17.1% to GHS 0.3129 (GHS 0.2673 in Q1 2019)



Thomas Boansi-Sarpong  (Ag. Chief Financial Officer): +233 261 513188

Dzifa Amegashie   (Head, Corporate and Investor Relations):  +233 261 513134

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. 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 and Cal Trustees.

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: /

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