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in Europe

Social Fabric Of Ukrainian Society At Peril

Comfort Ampomaaby Comfort Ampomaa
March 21, 2024
Reading Time: 4 mins read
Kremlin Rebuffs Zelenskyy’s Call For Three-Way Meeting With Trump, Putin

Russian President, Vladimir Putin.

In Europe, a nation fights for its identity, its dignity, and its very existence. Ukraine, a country rich in history and culture, finds itself under siege.

A recent UN report detailing Russia’s atrocities in occupied Ukraine serves as a chilling reminder of the depths that Russia is willing to go.

Since Russia’s invasion in February 2022, Ukraine has endured a relentless onslaught on its sovereignty and human rights.

The report’s findings, based on over 2,300 interviews, paint a harrowing picture of widespread torture, arbitrary detention, and the suppression of Ukrainian identity.

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These are not mere violations of law; they are crimes against humanity, perpetrated with impunity by a regime that seeks to crush dissent and subjugate an entire nation.

According to the UN report, Russia has tortured and arbitrarily detained people in occupied Ukraine, creating a “climate of fear” and suppressing Ukrainian identity.

Since invading in February 2022, Moscow has seized large swathes of southern and eastern Ukraine.

In September 2022, Russian President Vladimir Putin announced the annexation of the regions of Kherson, Zaporizhia, Luhansk and Donetsk in a move rejected by Kyiv and most of the international community.

The report stated that Russia has imposed its “language, citizenship, laws, court system, and education curricula on the occupied areas,” while suppressing a Ukrainian identity.

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Russia had tried to suppress Ukrainian identity among children, replacing the curriculum in schools with a Russian one which sought to “justify” Moscow’s invasion, the report added.

The Russian playbook in occupied Ukraine is insidious. By imposing its language, laws, and education curricula, Moscow seeks to erase Ukrainian culture and history, replacing them with a version that justifies its aggression.

The manipulation of school curricula to indoctrinate children with propaganda is a particularly vile tactic, reminiscent of totalitarian regimes of the past.

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However, Russia’s assault on Ukraine goes beyond the classroom. It extends to the streets, where peaceful protests are met with brute force, and to the airwaves, where Ukrainian media is silenced and dissenting voices are suppressed.

“From the onset, Russian armed forces, acting with generalised impunity, committed widespread violations, including arbitrary detention of civilians, often accompanied by torture and ill-treatment,” the report said.

Peaceful protests have been meet with “force” from the Russian army, which has restricted free expression and pillaged homes and businesses, it said.

The report said Moscow has blocked access to Ukrainian media and phone networks in the regions in an effort to control information.

By controlling information and communication networks, Moscow seeks to isolate Ukrainian communities and break their spirit of resistance.

UN high commissioner for human rights, Volker Türk opined, “The actions of the Russian Federation have ruptured the social fabric of communities and left individuals isolated, with profound and long-lasting consequences for Ukrainian society as a whole.”

Ukraine has accused Moscow of widespread war crimes in its occupied regions. The Kremlin denies any wrongdoing, calling its takeover of the regions a “liberation.”

Speaking before the release of a comprehensive UN Human Rights Monitoring Mission in Ukraine (HRMMU) report on the territories Russia occupied in its full-scale invasion since 2022, the mission’s head, Danielle Bell, said Russia’s breaches of rights there were used to terrify local residents into co-operating.

“These combined actions of censorship, surveillance, political oppression, repression of free speech, movement restrictions … created a climate of fear in which the Russian Federation could systematically dismantle the Ukrainian systems of government and administration.”

Danielle Bell

Bell revealed that there had been an initial phase of rights violations, including killings, torture and arbitrary detention of those perceived to be linked to Ukrainian security forces or those believed to be supporting Ukraine.

That was followed by campaigns against freedoms of movement, assembly and expression, she said. These were followed by a push to change all major state institutions into Russian ones, something Bell said violated international humanitarian law.

Bell added that Russia aggressively pushed people to take Russian citizenship: people could obtain services such as healthcare, social security or rented housing only with a Russian passport.

It is important to note that the consequences of Russia’s actions are not limited to the present moment; they will reverberate for generations to come if not checked.

READ ALSO: Trump To Be Second Grover Cleveland?

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Unlike previous periods where earnings were significantly supported by impairment recoveries, CalBank's latest results demonstrate that its profitability is now being powered largely by the strength of its underlying banking business. Core Banking Business Drives Exceptional Earnings One of the biggest highlights of the first half performance was the remarkable growth in net interest income, which surged by 83 percent to GHS347.5 million. The increase came despite a relatively lower interest rate environment. Interest income rose from GHS399 million to GHS451.5 million as the bank continued expanding its earning assets. At the same time, funding costs fell sharply, with interest expenses dropping from GHS209 million to GHS104 million. This significant reduction in funding costs improved the bank's profitability and demonstrated stronger balance sheet management. CalBank also recorded exceptional growth from non interest income sources as it continued diversifying its revenue streams. Net fees, commissions, and trading income almost doubled, rising by 99 percent to GHS323.3 million from GHS162.7 million during the same period last year. The strong performance reflects increased customer activity across the bank's retail, commercial, and corporate banking segments. The diversified earnings profile places CalBank in a stronger position to withstand changing market conditions while maintaining sustainable profitability. Stronger Earnings Quality Boosts Investor Confidence Perhaps the most significant aspect of CalBank's results is the improved quality of its earnings. During the first half of 2025, impairment recoveries contributed approximately GHS154 million to profits. However, in the latest reporting period, impairment gains accounted for only GHS7 million. This means the overwhelming majority of profits were generated through normal banking operations rather than one off recoveries. The shift highlights the success of management's transformation strategy and provides greater confidence that future earnings will remain sustainable. Industry analysts often view recurring operating income as a stronger indicator of long term financial health than exceptional gains. Assets and Deposits Record Strong Expansion CalBank also recorded significant growth in its balance sheet during the period. Total assets expanded by 30 percent to GHS13.9 billion from GHS10.7 billion recorded at the end of June 2025. Customer deposits increased by the same margin, rising to GHS10.9 billion. The growth in deposits reflects increasing customer confidence in the bank's brand, improved service delivery, and expanding retail and commercial banking operations. Higher deposits also provide the bank with a stable funding base to support future lending and business expansion. The figures reinforce CalBank's growing position within Ghana's competitive banking industry. Bad Loans Decline Dramatically One of the most remarkable achievements during the first half of the year was the dramatic improvement in asset quality. The bank's Non Performing Loan ratio dropped sharply to 10.10 percent from an exceptionally high 51.60 percent recorded at the end of June 2025. The improvement reflects the successful execution of CalBank's balance sheet remediation programme and disciplined credit risk management practices. A healthier loan portfolio reduces future credit losses while creating additional room for prudent loan growth. The significant decline in bad loans also strengthens investor confidence and enhances the bank's overall financial stability. Capital Position Strengthens After Recapitalisation Following its successful recapitalisation in 2025, CalBank has continued strengthening its financial foundation. Its Capital Adequacy Ratio improved dramatically to 18.17 percent from a negative 7.6 percent recorded a year earlier. The turnaround highlights the success of the bank's recapitalisation efforts and demonstrates its renewed financial resilience. Strong liquidity levels further position the bank to support customers, finance new business opportunities, and meet future regulatory requirements with confidence. The improved capital position also creates greater flexibility for expansion while protecting shareholders against unexpected financial shocks. Management Confident of Even Better Results Commenting on the results, Managing Director Carl Selasi Asem described the first half performance as clear evidence that CalBank's transformation strategy is producing sustainable financial outcomes. He said the bank had achieved strong growth across its core businesses while improving funding efficiency, strengthening profitability, enhancing asset quality, reinforcing its capital base, and expanding its balance sheet. Mr. Asem stressed that the latest earnings were driven by the strength of the bank's underlying operations rather than one time recoveries, reinforcing the quality and sustainability of the results. Looking ahead, he expressed confidence that the momentum built during the first half would enable CalBank to deliver an even stronger performance during the remainder of 2026. Management says the bank remains committed to disciplined execution of its strategic priorities, strengthening customer relationships, maintaining prudent risk management, and creating sustainable long term value for shareholders. CalBank's Transformation Continues to Deliver CalBank's latest financial performance paints the picture of a bank that has successfully rebuilt its foundations and is entering a new phase of sustainable growth. With rising profits, stronger capital, expanding customer deposits, healthier assets, and significantly lower bad loans, the bank appears well positioned to compete aggressively within Ghana's banking sector. As economic conditions continue to improve, CalBank's focus on operational excellence and disciplined execution could make 2026 one of the strongest years in the institution's recent history. READ ALSO: GSE Opens Week with Explosive Trading Activity CalBank Profit Soars 25% to GHS353.6 Million in Strong First Half Performance

CalBank Profit Soars 25% to GHS353.6 Million in Strong First Half Performance

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