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

CalBank's ultra-modern Head Office Tower located on the 23 Independence Avenue in Accra.
Type	Public
Traded as	GSE: CAL
Industry	Financial services
Founded	1990 (1990)
Headquarters	23 Independence Avenue, Accra, Ghana
Key people	Joe Mensah Chairman[1] Philip Owiredu Managing Director[1]
Products	Loans, checking, savings, investments, debit cards, mortgages
Revenue	Aftertax:GHS:174,285,000 (US$30.2 million) (2019)[2]
Total assets	GHS:7,048,498,000 (US$1.221 billion) (2019)[2]
Website	www.calbank.net

Location

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]

Overview

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]

Ownership

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

Directors

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 Management

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 also

• List of banks in Ghana
• Economy of Ghana

References

1. Magdalene Teiko Larnyoh (10 January 2020). "Cal Bank announces new CEO and four other appointments". Accra: Ghana Pulse. Retrieved 27 March 2020.
2. 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 links

• CAL Bank Homepage