CalBank is a
commercial bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with cor ...
in
Ghana
Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and To ...
, that is
licensed by the
Bank of Ghana
The Bank of Ghana ( BoG) is the central bank of Ghana. It is located in Accra and was formed in 1957. The bank is active in developing financial inclusion policy and is a member of thAlliance for Financial Inclusion
History
The Central Ban ...
, the
central bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...
and national banking regulator.
Location
The headquarters of CalBank and its main branch are located at 23 Independence Avenue, in the
central business district
A central business district (CBD) is the commercial and business centre of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city ...
of
Accra
Accra (; tw, Nkran; dag, Ankara; gaa, Ga or ''Gaga'') is the capital and largest city of Ghana, located on the southern coast at the Gulf of Guinea, which is part of the Atlantic Ocean. As of 2021 census, the Accra Metropolitan District, , ...
, the capital of Ghana.
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).
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 organisation
A non-governmental organization (NGO) or non-governmental organisation (see American and British English spelling differences#-ise, -ize (-isation, -ization), spelling differences) is an organization that generally is formed independent from g ...
s, regular customers and
small and medium enterprise
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank ...
s. As of December 2020, the bank's assets totaled GHS:7,924,586,000 (US$1.370 billion), with shareholders' equity of GHS:1,132,772,000 (US$195 million).
Ownership
The stock of CalBank is traded on the
Ghana Stock Exchange
The Ghana Stock Exchange (GSE) is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently lists 42 equities (from 37 companies) and 2 corporate bonds. All types of securiti ...
under the symbol CAL. , the stock ownership of the bank is reflected in the table below:
Directors
CalBank is governed by a
board of directors
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...
, of whom one is an
executive director
Executive director is commonly the title of the chief executive officer of a non-profit organization, government agency or international organization.
The title is widely used in North American and European not-for-profit organizations, though ...
and nine are non-executive. The
chairman of the board
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
is Joe Mensah, one of the non-executive directors.
Executive management
Philip Owiredu is the
managing director
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
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.
See also
*
List of banks in Ghana
Below is a list of commercial banks in Ghana, as of March 2020.
Banks
# Absa Bank Ghana Limited
# Access Bank Ghana Plc
# Agricultural Development Bank of Ghana
# Bank of Africa Ghana Limited
# CalBank Limited
# Consolidated Bank Ghana Limit ...
*
Economy of Ghana
The economy of Ghana has a diverse and rich resource base, including the manufacturing and exportation of digital technology goods, automotive and ship construction and exportation, and the exportation of diverse and rich resources such as hydr ...
References
External links
CAL Bank Homepage
{{DEFAULTSORT:CalBank
Banks of Ghana
Companies based in Accra
Banks established in 1990
Ghanaian companies established in 1990