CalBank Limited has changed its name to CalBank PLC.
According to the company, the change of name took effect from Monday, July 1, 2020.
A statement from the company on the new development indicated that the change of name is pursuant to provisions in the Companies Act, 2019 (Act 992).
The ACT requires that all public companies limited by shares must have the words Public Limited Company or the abbreviation PLC as a suffix to their registered name.
“We hereby notify our cherished customers, vendors, agents and the general public that effective July 1, 2020, our company name has changed from CalBank Limited to CalBank PLC and henceforth, the Bank should be referred to as CalBank PLC.
The name change is pursuant to provisions of the Companies Act, 2019 (Act 992) which require that all public companies limited by shares must have the words Public Limited Company or the abbreviation PLC as a suffix to their registered name,” the statement noted.
The statement further noted that the name change has no impact on CalBank’s operations, products and services.
“Furthermore, CalBank’s address and contact details remain unchanged,” it added.
CalBank, a market leader in Ghana’s banking sector was formerly known as Continental Acceptances Ltd and Cal Merchant Bank.
It commenced operations in July 1990, providing world class financial solutions to the Ghanaian banking sector.
The bank however received its Universal Banking License in 2004 and soon commenced providing specialized retail banking services.
CalBank’s objective to be Ghana’s leading digitized bank has seen the bank’s introduction of innovative electronic banking solutions to the Ghanaian market.