CalBank

CalBank is a commercial bank in Ghana, that is licensed by the Bank of Ghana, the central bank and national banking regulator.[3]

CalBank
Public
Traded asGSE: CAL
IndustryFinancial services
Founded1990; 30 years ago (1990)
Headquarters23 Independence Avenue, Accra, Ghana
Key people
Joe Mensah
Chairman[1]
Philip Owiredu
Managing Director[1]
ProductsLoans, checking, savings, investments, debit cards, mortgages
RevenueIncreaseAftertax:GHS:174,285,000 (US$30.2 million) (2019)[2]
Total assetsGHS:7,048,498,000 (US$1.221 billion) (2019)[2]
Websitewww.calbank.net

LocationEdit

The headquarters of CalBank and its main branch are located at 23 Independence Avenue, in the central business district of Accra, the capital of Ghana.[4] The geographical coordinates of the bank's headquarters are:05°33'51.0"N, 0°11'44.0"W (Latitude:5.564167; Longitude:-0.195556).[5]

OverviewEdit

Founded in 1990, CalBank is a large financial services retail bank that serves the banking needs of large corporations, high net worth individuals, non-governmental organisations, regular customers and small and medium enterprises. As of December 2019, the bank's assets totaled GHS:GHS:7,048,498,000 (US$1.221 billion), with shareholders' equity of GHS:974,787,000 (US$169 million).[2]

OwnershipEdit

The stock of CalBank is traded on the Ghana Stock Exchange under the symbol CAL. As of December 2019, the stock ownership of the bank is reflected in the table below:[2]

CalBank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Social Security and National Insurance Trust 33.18
2 Arise B.V. 27.69
3 Public 15.38
4 Allan Gray Africa, Ex-South Africa Equity Fund Limited 4.03
5 Frank Brako Adu Jnr. 2.59
6 Daniel Ofori 2.45
7 AIF Clients 8 Percent Account 2.45
8 Kuwait Investment Authority 2.06
9 Frontier Market Opportunity Mast Fund 1.42
10 Enterprise Life Association Company Policy Holders 1.42
11 Enterprise Tier 2 Occupational Pension Scheme 1.12
12 Kapfrg Investin Pro, Afrikansk 1.05
13 Robeco Afrika Fonds NV 0.86
14 SSB Eaton Vance Tax Managed Emerging Market Fund 0.80
15 Enterprise Underwriters Tier 3 P4 0.69
16 ECG Pension Scheme Tier 3 Port 1 0.67
17 Gentrust Sankofa Master Trust Scheme 0.49
18 EDC Ghana Balanced Fund Limited 0.48
19 Benjamin Fosu Ansah 0.47
20 Barclays Bank Ghana Staff Provident Fund Scheme 0.42
21 TCM Investment Funds Luxembourg 0.42
Total 100.00

DirectorsEdit

CalBank is governed by a 10-person Board of Directors of whom one is an Executive Director and nine are non-executive. The Chairman of the Board is Joe Mensah, one of the non-executive directors.[1][6][7]

Board Of Directors
Name Position
Joseph Mensah Chairman
Philip Owiredu Managing Director
Helen Nankani Non-Executive Director
Rosalind Nana Emela Kainyah Non-Executive Director
Kofi Osafo-Maafo Non-Executive Director
Nana Otuo Acheampong Non-Executive Director
Richard Arkutu Non-Executive Director
Ben Gustave Barth Non-Executive Director
Solomon Asamoah Non-Executive Director
Kweku Baa Yoku Korsah Non-Executive Director

Executive ManagementEdit

Philip Owiredu is the Managing Director of CalBank. He is a Fellow of Chartered Certified Accountants (FCCA). Prior to becoming the Managing Director at CalBank, he held several managerial positions at the bank including: (a) Financial Controller (b) Chief Financial Officer and (c) Executive Director. Before joining CalBank Owiredu served as Senior Manager at KPMG Ghana.[1][8]

See alsoEdit

ReferencesEdit

  1. ^ a b c d Magdalene Teiko Larnyoh (10 January 2020). "Cal Bank announces new CEO and four other appointments". Accra: Ghana Pulse. Retrieved 27 March 2020.
  2. ^ a b c d CAL Bank (27 February 2020). "CAL Bank Annual Report For The Year Ending 31 December 2019" (PDF). Accra: CAL Bank. Retrieved 7 July 2020.
  3. ^ Bank of Ghana (March 2020). "List of Registered Commercial Banks in Ghana". Accra: Bank of Ghana. Retrieved 27 March 2020.
  4. ^ Favour Adeaga (March 2019). "Cal Bank Branches In Accra And Contacts: Cal Bank Head Office: 23 Independence Avenue, Accra, Ghana". Accra: Yen.com.gh. Retrieved 27 March 2020.
  5. ^ Google (27 March 2020). "Location of the Headquarters of CAL Bank Ghana Limited" (Map). Google Maps. Google. Retrieved 27 March 2020.
  6. ^ CAL Bank Limited (July 2020). "CAL Bank Board of Directors". Accra: CAL Bank Limited. Retrieved 7 July 2020.
  7. ^ Magdalene Teiko Larnyoh (2 July 2020). "CalBank appoints Joe Mensah as Board Chairman" (Quoting Pulse Ghana). Pulse Live Kenya. Retrieved 7 July 2020.
  8. ^ CAL Bank Limited (July 2020). "The Board of CAL Bank Limited: Philip Owiredu, Managing Director". Accra: CAL Bank Limited. Retrieved 7 July 2020.

External linksEdit


Coordinates: 05°33′51″N 00°11′44″W / 5.56417°N 0.19556°W / 5.56417; -0.19556