Cal Bank which was formally known as Continental Acceptances Ltd and later Cal Merchant Bank is a Ghana-based company active in investment, corporate and retail banking, and brokerage and asset management services. It was incorporated on 20th March, 1989 under the company’s code, 1963 Act 179, as a Private Company Limited by shares and it started operations in July 1990, providing world class financial solutions to the Ghanaian Banking Sector.
CAL Bank received its Universal Banking License in 2004 and soon commenced providing specialized retail banking services. The Bank is engaged in the underwriting of securities; corporate finance operations, loan syndications and securities portfolio management; counselling and negotiation in acquisitions, checking, savings, investments, debit cards, mortgages etc.
With its highly skilled professional staff who emphasize the delivery of efficient and excellent customer services, CAL Bank ltd continues to provide a broad range of banking and financial solutions to large corporations, small and medium sized enterprises, public sectors institutions and retail customers through network of 29 branches and over 100 ATMs across Ghana.
CAL Bank Ltd, the highest oversubscribed equity was listed on Ghana Stock Exchange (GSE) on 5th November, 2004 and made its debut with a total amount of 292 billion cedis accruing from its Initial Public Offer (IPO). The bank, the 30th to be listed on the GSE, puts the exchange’s total market capitalization beyond the 97 trillion cedis mark. With an Initial Public Offer price of 2000 cedis, CAL Bank raised more than the 63 billion cedis it required but could not be allowed to raise the offer to 100 billion cedis because the rules were against it.
Cal Bank began the year with a share price of GH¢0.89 but has since lost 21.35% off that price valuation, ranking it 38th on the GSE in terms of year-to-date performance. The highest share trading price is GH¢1.97 and the lowest share trading price is GH¢0.49.
The stock of CAL Bank Limited (CAL) is currently trading at GH¢0.69 per share on the Ghana Stock Exchange. According to the unaudited financial statement. The net profit for CAL in 2018 was GH¢162,940,000 and GH¢ 174,285,000 in 2019. CAL made a profit as compared to the year 2018.
Agnes Lampkie Djanfosu.
Sources: CAL, GSE.