CAL Bank

CAL Bank
Public
Traded as GSE: CAL
Industry Financial services
Founded 1990
Headquarters 23 Independence Avenue, Accra, Greater Accra, Ghana
Key people
 Paarock A Vanpercy
Chairman
Frank Brako Adu Jnr
Managing Director[1]
Products Loans, Checking, Savings, Investments, Debit cards, Mortgages
Revenue IncreaseAftertax:GHS 143.151 million (2014)
Total assets GHS: 2,715.392 million (2014)
Number of employees
 737 (2014) [2]
Website Homepage

CAL Bank is a commercial bank in Ghana involved primarily in meeting the banking needs of small, medium and large corporations. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator.[3]

Overview

Founded in 1990, CalBank is rated as "one of the most innovative banks in Ghana", according to its website.[4] As of December 2010, the bank's total assets were valued at about US$266 million (GHS:510 million), with shareholders' equity of approximately US$41 million (GHS:79 million).[5]

Ownership

The stock of CalBank is traded on the Ghana Stock Exchange under the symbol CAL.[6] As of December 2010, the stock ownership of the bank is reflected in the table below:[7]

CAL Bank Stock Ownership
RankName of OwnerPercentage Ownership
1Public39.84
2SSNIT33.47
3Afare Donkor8.36
4Daniel Ofori5.47256
5Vanguard Assurance Company Limited3.98
6SCBN\ Barclays Mauritius RE: Kura Africa Fund3.32
7Frank Adu Jnr.3.02
8SCBN\ SSB Eaton Vance Tax-Managed Emerging Market Fund1.33
9Frontier Market Select Fund1.11
10Stanchart Mauritius RE: Deut Africa Opportunities Fund1.10
Total100.00

Directors

CalBank is governed by a nine-person Board of Directors of whom two are Executive Directors and seven are non-executive. The Chairman of the Board is Paarock A. Vanpercy, one of the non-executive directors.[8]

Executive Management

Frank Brako Adu Jnr is the Managing Director of CalBank. There are thirty six other managers with whom the Managing Director supervises the day-to-day activities of the bank. Frank Adu Jnr. is a graduate of the University of Ghana. He holds a bachelor's degree (BSc) in Geography and a Master of Business Administration (MBA). Prior to becoming the Managing Director at CalBank, he has held several managerial positions at the bank including: (a) Deputy Managing Director (b) Bank Treasurer and (c) Credit and Relations Banking Officer.

The Executive Block, Head Office (Accra Ridge)

See also

References

  1. ↑ Frank Adu Jnr is Managing Director of CAL Bank
  2. ↑ Annual Report 2014
  3. ↑ List of Licensed Commercial Banks in Ghana Archived 2010-08-27 at the Wayback Machine.
  4. ↑ About CAL Bank
  5. ↑ Audited December 2010 Financial Report
  6. ↑ Editorial, Reuters. "STOCKS NEWS AFRICA-Financial stocks boost Ghana index". Reuters. Retrieved 2017-08-17.
  7. ↑ List of Major Shareholders In CAL Bank Asof December 2010
  8. ↑ CAL Bank Board of Directors
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