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 ...

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 Tog ...

, 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 Bank ...

, 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 centra ...

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 ...

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 spelling differences) is an organization that generally is formed independent from government. They are typically nonprofit entities, and many of them are active in ...

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 Ba ...

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 orga ...

, 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 group ...

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 especiall ...

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.

References

External links

CAL Bank Homepage
{{DEFAULTSORT:CalBank Banks of Ghana Companies based in Accra Banks established in 1990 Ghanaian companies established in 1990