CAL Bank

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CAL Bank
Traded asGSE: CAL
IndustryFinancial services
Headquarters23 Independence Avenue, Accra, Greater Accra, Ghana
Key people
Paarock A Vanpercy
Frank Brako Adu Jnr
Managing Director[1]
ProductsLoans, Checking, Savings, Investments, Debit cards, Mortgages
RevenueIncreaseAftertax:GHS 143.151 million (2014)
Total assetsGHS: 2,715.392 million (2014)
Number of employees
737 (2014) [2]

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]


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]


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
Rank Name of Owner Percentage Ownership
1 Public 39.84
2 SSNIT 33.47
3 Afare Donkor 8.36
4 Daniel Ofori 5.47256
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


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[edit]

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[edit]


  1. ^ "Frank Adu Jnr is Managing Director of CAL Bank". Archived from the original on 2010-09-02. Retrieved 2010-09-25.
  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" (PDF). Archived from the original (PDF) on 2012-02-27. Retrieved 2012-08-06.
  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" (PDF). Archived from the original (PDF) on 2012-02-27. Retrieved 2012-08-06.
  8. ^ CAL Bank Board of Directors

External links[edit]