CAL_Bank
CalBank
Commercial bank in Ghana
CalBank is a commercial bank in Ghana, that is licensed by the Bank of Ghana, the central bank and national banking regulator.[3]
CalBank's Head Office Tower located on the 23 Independence Avenue in Accra. | |
| Company type | Public |
|---|---|
| GSE: CAL | |
| Industry | Financial services |
| Founded | July 1990; 33 years ago (July 1990) |
| Headquarters | 23 Independence Avenue, Accra, Ghana |
Key people | Joe Rexford Mensah Chairman[1] Carl Selasi Asem Acting Managing Director[1] |
| Products | Loans, checking, savings, investments, debit cards, mortgages |
| Revenue |  Aftertax:GHS:213,803,000 (US$36.9 million) (2020)[2] |
| Total assets | GHS:7,924,586,000 (US$1.370 billion) (2020)[2] |
| Website | www |
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]
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 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).[2][6]
The stock of CalBank is traded on the Ghana Stock Exchange under the symbol CAL. As of December 2019[update], the stock ownership of the bank is reflected in the table below:[2]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Social Security and National Insurance Trust | 33.18 |
| 2 | Arise B.V. | 27.69 |
| 3 | Others | 15.52 |
| 4 | Scgn/Citibank New York Allan Gray Africa, Ex-South Africa Equity Fund Limited | 4.02 |
| 5 | Frank Brako Adu Jnr. | 2.62 |
| 6 | Scgn/Citibank Kuwait Investment Authority | 2.49 |
| 7 | Daniel Ofori | 2.45 |
| 8 | Ofori, Daniel | 1.44 |
| 9 | Scgn/Enterprise Life Ass. Co. Policy Holders | 1.28 |
| 10 | Scgn/Ntgs Se Lux CI A/C Re Ludp Re: Aif CI 8% Acc, | 1.18 |
| 11 | Std Noms/ Bnym Re Frontier Market Opport Mast Fun | 1.14 |
| 12 | Scgn/ Enterprise Tier 2 Occupational Pension Scheme | 1.12 |
| 13 | Scgn/ Jpmorgan Bk Lux Sa Re Robeco Afrika Fonds N.V. | 0.86 |
| 14 | Std Noms/Bnym Sanv/Kapfrg Investin Pro, Afrikansk | 0.84 |
| 15 | Scgn/Ssb Eaton Vance Tax-, Managed Emerging Market Fund | 0.80 |
| 16 | Egh/ Enterprise Underwriters Tier 3 P4 | 0.69 |
| 17 | Benjamin Fosu Ansah | 0.64 |
| 18 | Egh, Ecg Pension Scheme Tier 3 Port 1 | 0.64 |
| 19 | Gentrust Sankofa Master Truest Scheme | 0.49 |
| 20 | Hfcn/ Edc Ghana Balanced Fund Limited | 0.48 |
| 21 | Senyo Kwasi Hosi | 0.43 |
| Total | 100.00 | |
CalBank is governed by a 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][7][8]
| Name | Position |
|---|---|
| Joe Rexford Mensah | Chairman |
| Carl Selasi Asem | Acting Managing Director |
| Helen Nankani | 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 |
| Dr. Cynthia Ayodele Forson | Non-Executive Director |
Carl Selasi Asem is the Acting Managing Director of CalBank. He is an Associate Member of the Ghana Institute of Engineers (GhIE). Prior to becoming the acting managing director at CalBank, he was the deputy managing director at the bank. Before joining CalBank, Carl Asem served as the managing director at Ecobank Gambia bringing over 17 years of expertise in marketing, sales, and business development. During his tenure, Ecobank Gambia achieved significant industry milestones and won multiple awards. Mr. Asem holds a Bachelor of Science in Chemical Engineering and has pursued executive education at Columbia Business School and the Harvard Kennedy School.[1][9]
- Magdalene Teiko Larnyoh (10 January 2020). "Cal Bank announces new CEO and four other appointments". Accra: Ghana Pulse. Retrieved 27 March 2020.
- CAL Bank (6 April 2021). "CAL Bank Annual Report For The Year Ending 31 December 2020". Accra: CAL Bank. Retrieved 11 May 2021.
- Bank of Ghana (March 2020). "List of Registered Commercial Banks in Ghana". Accra: Bank of Ghana. Retrieved 27 March 2020.
- 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.
- Google (27 March 2020). "Location of the Headquarters of CAL Bank Ghana Limited" (Map). Google Maps. Google. Retrieved 27 March 2020.
- "CalBank Announces Its Audited Full Year Results for 2020". CalBank. Retrieved 11 May 2021.
- CAL Bank Limited (July 2020). "CAL Bank Board of Directors". Accra: CAL Bank Limited. Retrieved 7 July 2020.
- Magdalene Teiko Larnyoh (2 July 2020). "CalBank appoints Joe Mensah as Board Chairman" (Quoting Pulse Ghana). Pulse Live Kenya. Retrieved 7 July 2020.
- CAL Bank Limited (February 2024). "The Board of CAL Bank Limited: Carl Asem, Acting Managing Director". Accra: CAL Bank Limited. Retrieved 13 February 2024.