CalBank is a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

Ghana Ghana, officially the Republic of Ghana, is a country in West Africa. It is situated along the Gulf of Guinea and the Atlantic Ocean to the south, and shares borders with Côte d’Ivoire to the west, Burkina Faso to the north, and Togo to t ...

, 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 of Ghana has Seven Regional Offices in addition to its head office in Accra. The regional offices are located in the following citie ...

, the

central bank A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the mo ...

and national banking regulator.

Location

The headquarters of CalBank and its main branch are located at 23 Independence Avenue, in North Ridge in the

central business district A central business district (CBD) is the Commerce, commercial and business center 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 wit ...

Greater Accra The Greater Accra Region has the smallest area of Ghana's 16 administrative regions, occupying a total land surface of 3,245 square kilometres. This is 1.4 per cent of the total land area of Ghana. It is the most populated region, with a popul ...

, 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) is an independent, typically nonprofit organization that operates outside government control, though it may get a significant percentage of its funding from government or corporate sources. NGOs often focus ...

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 many national agencies and international organizat ...

s. As of December 2024, the bank's assets totaled GHS:11,688,797,000, with shareholders' equity of GHS:272,564,000.

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 stock, equities (from 37 company, companies) and 2 corporate bonds. All typ ...

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 is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...

, of whom two are executive directors and three are non-executive. The

chairman of the board The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a Board of directors, board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by ...

is Daniel Nii Kwei-Kumah Sackey, one of the non-executive directors.

Executive management

Carl Selasi Asem is the

managing director A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

of CalBank. He is an associate member of the Ghana Institute of Engineers. Prior to becoming the acting managing director at CalBank, he was the deputy managing director at the bank. Before joining CalBank, 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. Asem holds a Bachelor of Science in Chemical Engineering and has pursued executive education at Columbia Business School and the Harvard Kennedy School. CalBank PLC has appointed Johnson Oware as its deputy managing director, effective January 20, 2025. Oware, with over 20 years of experience in banking, will oversee the bank's corporate, commercial, and retail operations. He previously served as Head of Corporate Banking at

Ecobank Ghana Ecobank Ghana PLC is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator. In 2022, the bank retained its position as the largest bank in Ghana in the 2023 Ghana Banking Surv ...

. Oware holds a BSc in Administration, an MBA in Finance, and a Diploma in Public-Private Partnership. CalBank’s Board Chairman expressed confidence in his ability to support the bank's growth and strategic goals.

References

External links

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