CAL Bank

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CAL Bank
Type 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:US$4.94 million (GHS:9.5 million (2010)
Total assets US$266 million (GHS:510 million) (2010)
Employees 300 (2010)
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.[2]

Overview[edit]

Founded in 1990, CAL Bank is rated as "one of the most innovative banks in Ghana", according to its website.[3] 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).[4]

Ownership[edit]

The stock of CAL Bank is traded on the Ghana Stock Exchange under the symbol CAL.[5] As of December 2010, the stock ownership of the bank is reflected in the table below:[6]

CAL Bank Stock Ownership
Rank Name of Owner Percentage Ownership
1 Public 39.84
2 SSNIT 33.47
3 Afare Donkor 7.36
4 Daniel Ofori 5.47
5 Vanguard Assurance Company Limited 3.98
6 SCBN\ Barclays Mauritius RE: Kura Africa Fund 3.32
7 Frank Adu Jnr. 3.02
8 SCBN\ SSB Eaton Vance Tax-Managed Emerging Market Fund 1.33
9 Frontier Market Select Fund 1.11
10 Stanchart Mauritius RE: Deut Africa Opportunities Fund 1.10
Total 100.00

Branch Network[edit]

CAL Bank is headquartered in Accra, at 23 Independence Avenue. As of September 2013, the bank operated fifteen (19) networked branches at the following locations:[7]

  1. Kejetia Branch - Prempeh, Kumasi
  2. KNUST Branch - Hospital Road, Kumasi
  3. Nhyiaeso Branch - Old Bekwai Road, Kumasi
  4. Suame Branch - Suame, Kumasi
  5. Asafo Branch - Asafo, Kumasi
  6. Derby Avenue Branch - Derby Avenue, Accra
  7. Graphic Road Branch - Graphic Road, Accra
  8. Head Office & Main Branch - Independence Avenue, Accra
  9. Ring Road Branch - Ring Road West, Accra
  10. Ring Road Central Branch - Ring Road, Accra
  11. Spintex Road Branch - Spintex Road, Accra
  12. Legon Branch - Legon, Accra
  13. Achimota Branch - Achimota, Accra
  14. Tema Community one Branch - Tema
  15. Tema Industrial Area Branch - Tema
  16. Weija Branch - Dunkonaa Estate - Weija
  17. Takoradi Harbor Branch - Takoradi Harbor, Takoradi
  18. Takoradi Market Branch - Takoradi Market Circle, Takoradi
  19. Tarkwa Branch - Tarkwa

Directors[edit]

CAL Bank 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[edit]

Frank Brako Adu Jnr is the Managing Director of CAL Bank. 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 CAL Bank, he has held several managerial positions at the bank including: (a) Deputy Managing Director (b) Bank Treasurer and (c) Credit and Relations Banking Officer.

CAL Bank Executive Block.jpg

See also[edit]

References[edit]

External links[edit]