ACCRA, April 21 — CalBank PLC reported a 156% surge in first-quarter profit before tax, signaling a strong rebound as the lender exits a multi-year restructuring phase and positions itself for growth.
Speaking at its Facts Behind the Figures briefing, hosted by the Ghana Stock Exchange — the first such session for listed companies in 2026 — the bank highlighted a solid first-quarter performance that provides a strong foundation for the rest of the year.
Profit before tax rose to 204 million cedis, supported by broad-based income growth across both interest and fee-based lines, the bank said.
Net interest income nearly doubled, while non-funded income climbed 89%, accounting for 47% of total operating income — a shift the bank said reflects a more resilient and diversified earnings base amid falling interest rates.
Total assets grew 13% to 13.4 billion cedis, while deposits increased 11% to 10.4 billion cedis, underscoring improving customer confidence and liquidity.
The lender’s capital adequacy ratio stood at 17.2%, comfortably above regulatory requirements, marking a turnaround from a negative capital position in 2024 following a successful recapitalization.
Asset quality also improved, with the non-performing loan ratio declining to 15.1% from 45% two years ago. The bank is targeting a reduction to below 10% by end-2026.
Carl Asem, Managing Director of CalBank, said the bank would pursue “prudent” loan growth, focusing on small and medium-sized enterprises and retail banking, while maintaining strict risk controls.
The bank’s shares have risen more than 34% year-to-date, reflecting renewed investor confidence, though management said dividend payments remain contingent on clearing accumulated losses.
CalBank said it expects easing inflation and lower policy rates in Ghana to support credit growth and margins through the rest of 2026.
Watch the full session here: https://youtu.be/hTG4L46MoUY
