Tag: CAL Bank
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Cal Bank adopts agency banking for expansion
CAL Bank has disclosed its new strategy to resort to agency banking to meet the changing phase of banking in Ghana. As a result, the bank says it will reduce the construction of brick and mortar structures which should help in optimizing cost while improving on its service delivery. The Managing Director of Cal Bank,…
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BoG’s new regulations will help grow local banks—CAL Bank
The Executive Director of CAL Bank, Philip Owiredu has stated that the implementation of new rules by the Bank of Ghana(BoG) will help banks, especially local banks to grow. He maintained that the implementation of the Basel II and III regulations are a step in the right direction that will enhance corporate governance as well…
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Support Bank of Ghana to clean financial sector — CAL Bank MD
The Managing Director of CAL Bank Limited, Frank Adu Jnr, has urged stakeholders in the financial sector to support the Bank of Ghana as it cleans the sector. The Bank of Ghana, last week sent out a notice, strongly indicating that it will punish persons, companies or institutions dealing in the foreign exchange business without…
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Managing Director of CAL Bank to leave post by the end of 2019
The Managing Director of Cal Bank Limited Frank Adu Jnr, is confident his successor after he exits the bank by the end of this year, will be well equipped to succeed. Frank Adu Jnr, who was appointed Managing Director of the bank in the year 2000, has over 28 years of experience in the banking…
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CAL Bank gets shareholders’ backing to meet minimum capital
Shareholders of CAL Bank have voted for the bank to move 50 million cedis from its income surplus to stated capital in order to meet the minimum capital requirement. This was at an Extraordinary General Meeting held on Monday [December 17, 2018]. This also follows the bank’s decision to solely rely on capitalization of income…
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32 banks fail to comply with financial statement publication rules (Article)
If there’s one thing I’ve learned over the years, it’s that little/small things matter. When I moved out of Ghana to US and Canada, one thing that I have seen separate Ghana from those two countries is that the little things matter. Sometimes we blame other people for the state of affairs of our country,…
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CAL Bank records GH¢145m profit in 2017
CAL bank has posted a profit after tax of 145.2 million cedis for 2017. This is a significant improvement over the previous year’s figure of 7.2 million cedis. Despite this, the bank still acknowledges the impact of the legacy debts in the energy sector on its loan books. In the first of Citi Business News’…
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CalBank unveils new brand
CAL Bank has launched its new brand identity. The rebranding has seen a change in the bank’s logo and the tagline. CAL Bank’s logo has been changed into two yellow and orange petals which depict ‘C’ and ‘B’. The bank’s tagline has also been changed to ‘Forward Together’. Speaking at the official unveiling ceremony in…
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Banks demand payment plan for BDC debts
Banks that are exposed to the Bulk Oil Distribution Companies (BDCs’) debts want government to draw out a plan to facilitate payments from the Energy Sector Levies Act [ESLA]. They argue that the plan will facilitate payments and help them make the necessary provisions accordingly. Explaining the impact of the absence of a detailed plan…
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CAL Bank’s profits plunge due to high NPLs
After recording impressive performances at a time that some banks are struggling in the last three years, CAL Bank has recorded over a ninety percent drop in profits for 2016. According to the bank’s 2016 financial results, its profit dropped from 160 million cedis in 2015 to 7.2 million cedis in 2016. This was largely…