Accra, Ghana//-CalBank PLC, a leading indigenous bank established in Ghana, listed on the Ghana Stock Exchange (GSE) today, posted impressive financial results in the first quarter (Q1) of this year.
The bank and its management explained to investors and shareholders at the GSE’s Facts Behind the Figures programme that it recorded a 156% surge in first-quarter profit before tax.
This, they said signaled a strong rebound as the lender exits a multi-year restructuring phase and positions itself for growth.
The Managing Director of CalBank, Carl Asem, who led a high-power delegation to the event, added that the bank’s profit before tax rose to 204 million cedis, supported by broad-based income growth across both interest and fee-based lines.
Net interest income nearly doubled, while non-funded income climbed 89%, accounting for 47% of total operating income — a shift the bank said reflects a more resilient and diversified earnings base amid falling interest rates.
Total assets grew 13% to 13.4 billion cedis, while deposits increased 11% to 10.4 billion cedis, underscoring improving customer confidence and liquidity.
The lender’s capital adequacy ratio stood at 17.2%, comfortably above regulatory requirements, marking a turnaround from a negative capital position in 2024 following a successful recapitalisation.
While asset quality also improved, with the non-performing loan ratio declining to 15.1% from 45% two years ago. The bank is targeting a reduction to below 10% by the end of 2026.
Mr Asem assured shareholders and the investing public that the bank would pursue “prudent” loan growth, focusing on small and medium-sized enterprises and retail banking, while maintaining strict risk controls.
He noted that the bank’s shares have risen more than 34% year-to-date, reflecting renewed investor confidence, though management said dividend payments remain contingent on clearing accumulated losses.
The bank and its leadership were emphatic that they expect easing inflation and lower policy rates in Ghana to support credit growth and margins through the rest of 2026.
CalBank whose mission is: “To become a Tier 1 bank and deepen our retail presence by leveraging innovation and customer centricity” currently has 2,478 agents in eight regions of Ghana, namely Greater Accra, Western, Bono East, Volta,, Central, Ashanti, Upper East and Northern.
It also has 38 branches in the eight regions listed above, 98 AMTs, and 47 outstations.
