• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 30, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

CalBank Expresses Commitment to Become a Tier 1 Bank Soon

December 9, 2022
Stephen M.Cby Stephen M.C
in Securities/Markets
0
Cal Bank Returns to Profitability with GH₵414.2 Million PBT in 2024

Cal Bank Head Office

Indigenous bank, CalBank has renewed its commitment to become a Tier 1 bank soon which is the core measure of a bank’s financial strength from a regulator’s point of view.

According to the bank, it will also leverage the foundation built in the first year of retail strategy to scale up its operations in the coming year. Meanwhile the Tier 1 is composed of core capital, which consists primarily of common stock and disclosed reserves, but may also include non-redeemable non-cumulative preferred stock.

Taking its turn at the Ghana Stock Exchange organised Fact’s Behind Figures Programme, Managing Director, Philip Owiredu said the bank will deepen its retail presence by leveraging innovation and customer centricity.

RelatedPosts

GSE Investors Rattled as IIL Bleeds and Turnover Plummets 96%

Fireworks on GSE: Clydestone Ghana Rockets 11% as TotalEnergies Crashes Nearly 10%

T-Bills Auction Oversubscribed by 264% After Budget Review

“We have remained resilient amid a global pandemic, thereby making some significant strides on our 3-year strategy. Our aggressive balance sheet growth resulted in the 8th position in the industry, from the 9th in the previous year.”

Philip Owiredu

The bank also intend creating a digital ecosystem around the bank through partnerships with financial technology firms, telecom firms and other businesses.

Meanwhile, profit before tax of the bank decreased by 6% over the GH¢255.6 million achieved the just ended financial year. This was as a result of an increase in operating expenses by 32.3% prior to 2021.

Total income increased by 10.3% over the previous year revenue of GH¢555.7 million. The performance for the period was primarily driven by improved credit business and channel performance.

Mr Owiredu also disclosed that, net impairment loss dropped from GH¢48.4 million to GH¢39.8 million which represents 18.3%. The improvement in credit loss expense, the bank said,was partly due to significant recoveries and the improved quality of the stock of new loans.

Since the bank announced the appointment of Carl Selasi Asem, as Deputy Managing Director of the Bank months ago, it has set an ambitious target plans for the near future.

Carl is responsible for leading and driving the Bank’s corporate business with a view to growing profitability through superior product and relationship management.

With his solid history of excellent performance in leadership positions in the banking industry in Ghana and across the West Africa sub-region, Carl’s appointment as Deputy Managing Director will serve to buttress CalBank’s strong standing in the industry.

READ ALSO: Capital Bank Case: The Judge Sitting on the Case Denies Accusing State of Compromise

Tags: Cal BankFact Behind FiguresTier 1
Please login to join discussion
Previous Post

Pheelz Explains How The Church Influenced His Career Choice

Next Post

Government Strategies Will Fail Until Higher Prices Are Paid For Cocoa- 2022 Cocoa Barometer Report

[mc4wp_form id="1264"]

Related Posts

Bobi Wine Warns Of Rising Election Threats
Africa

Bobi Wine Warns Of Rising Election Threats

July 30, 2025
Tullow Oil plc
Extractives/Energy

Tullow Oil Sells Gabon Assets for $307M in Strategic Debt-Cut 

July 30, 2025
MahamaCares and healthcare in Ghana
Health

MahamaCares Bill Sparks Urgent Health Debate

July 30, 2025
Joseph Dindiok Kpemka, Elections, Kpemka
General News

Kpemka Admits NPP’s 2024 Defeat Was a National Tsunami

July 30, 2025
Trump May Skip G20 Summit In South Africa
Africa

Trump May Skip G20 Summit In South Africa

July 30, 2025
Earthquake Off Russia’s Coast Triggers Evacuations Across Pacific
USA

Earthquake Off Russia’s Coast Triggers Evacuations Across Pacific

July 30, 2025
Bobi Wine Warns Of Rising Election Threats
Africa

Bobi Wine Warns Of Rising Election Threats

by Lawrence AnkutseJuly 30, 2025
Tullow Oil plc
Extractives/Energy

Tullow Oil Sells Gabon Assets for $307M in Strategic Debt-Cut 

by Prince AgyapongJuly 30, 2025
MahamaCares and healthcare in Ghana
Health

MahamaCares Bill Sparks Urgent Health Debate

by Lilian AhedorJuly 30, 2025
Joseph Dindiok Kpemka, Elections, Kpemka
General News

Kpemka Admits NPP’s 2024 Defeat Was a National Tsunami

by Silas Kafui AssemJuly 30, 2025
Trump May Skip G20 Summit In South Africa
Africa

Trump May Skip G20 Summit In South Africa

by Lawrence AnkutseJuly 30, 2025
Earthquake Off Russia’s Coast Triggers Evacuations Across Pacific
USA

Earthquake Off Russia’s Coast Triggers Evacuations Across Pacific

by Comfort AmpomaaJuly 30, 2025
Bobi Wine Warns Of Rising Election Threats
Tullow Oil plc
MahamaCares and healthcare in Ghana
Joseph Dindiok Kpemka, Elections, Kpemka
Trump May Skip G20 Summit In South Africa
Earthquake Off Russia’s Coast Triggers Evacuations Across Pacific
[/vc_row_inner]

Recent News

  • Bobi Wine Warns Of Rising Election Threats
  • Tullow Oil Sells Gabon Assets for $307M in Strategic Debt-Cut 
  • MahamaCares Bill Sparks Urgent Health Debate
  • Kpemka Admits NPP’s 2024 Defeat Was a National Tsunami
  • Trump May Skip G20 Summit In South Africa
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.