CAL Bank improves services

CAL Bank Ghana Logo

Accra, May 08, GNA - Mr Frank B. Adu, Chief Executive Officer (CEO) of CAL Bank, said on Wednesday that the bank was making giant strides in the banking industry and was well positioned among the top 10 banks in Ghana.

He said the bank had been able to make improvement in areas such as loans and advances, customer deposit, total assets and on the net profit.

Mr Adu said this when CAL Bank took its turn at the 'Facts Behind Figures' forum organised by the Ghana Stock Exchange in Accra.

He said the bank had put in place a three-year strategic plan to further improve upon its performance and this includes increasing its presence in the country by establishing more branches and introducing new products.

He said the bank would continue with the investment in key sectors such as energy, oil and gas, transport and communication, manufacturing, mining and services.

Ms Dzifa Amegashie, Head of Investor Relations at CAL Bank, said the bank was performing well among its listed peers in terms of return on assets and equity, net interest margin and net profit margin.

Mr Philip Owiredu, Chief Financial Officer at CAL Bank, said there was an improvement in the balance sheet of the bank in the first quarter of 2013 compared to the first quarter of 2012 where the total assets of the bank was valued at about GH¢ 871,814.00 compared to more than GH¢ one billion in the first quarter of 2013.

He said CAL Bank would continue to enhance expertise to provide appropriate services to the increasing size of corporate clients and its corporate loan portfolio and syndicated transaction would also be grown by leveraging its increased balance sheet.

'There will also be product-driven retail deposit mobilisation that will focus on increasing retail deposits to reduce cost of funds and deposits ratio and targeting the growing middle class clientele who have the appetite for asset-backed consumption,' he said.

Mr Owiredu said service quality would be improved by enhancing IT infrastructure and focus on process automation, enhanced management information systems and investments into modern communication systems.

The Facts Behind Figures forum provides opportunity for the investing public, financial media, market operators and individual/institutional holders to get information on performance of banks and institutions listed on the Ghana Stock Exchange.

GNA