Home BUSINESS Calbank Executive Director talks up Corporate Governance

Calbank Executive Director talks up Corporate Governance

The Executive Director of Calbank, Mr. Philip Owiredu says the bank’s good corporate governance practices is one of the trump cards of his outfit.

Addressing the audience at the facts behind the figures at the Ghana stock Exchange in Accra, he disclosed that calbank remains the sole local bank that met the 400 million minimum capital requirement by the Bank of Ghana without raising funds from the market.

“The model and strategies the bank has adopted over the years to achieve this feat is good corporate governance structures and that is what sets us apart from the rest of the indigenous banks”. he noted.

“Our new three-year strategy builds on our earlier strategy of digital transformation and seeks to build our organization into a platform through which customers can connect to enhance their businesses and access all the banks products and services at their convenience and to ensure that we give our customers the best of services”. He further explained.

Touching on capital adequacy ratio, Mr. Owiredu revealed that the bank was working hard to always remain within the range required by the Bank of Ghana as its capital adequacy ratio dropped to 17.9% in 2019 against 21.8 % in 2019 while non-performing loan ratio which was 10.3% in 2018 also reduced to 9.4% this year.

“It is not just about reducing the capital adequacy ratio but we need to be within the range required by the bank of Ghana and to also utilise the funds of shareholders efficiently”. he added.

Calbank which was established in 1990 has 4 branches in three regions namely, western, Accra, Ashanti and Northern regions.

The bank also owns calBrokers, calAsset, calNominees and calTrustees as part of their subsidiaries.

 

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