CAL Bank
Encyclopedia
CAL Bank is a commercial bank
in Ghana
involved primarily in meeting the banking needs of small, medium and large corporations. It is one of the twenty-seven (27) licensed commercial banks in the country. Founded in 1990, CAL Bank is rated as "one of the most innovative banks in Ghana", according to its website.
under the symbol CAL. , the stock ownership of the bank is reflected in the table below:
{| style="font-size:100%;"
|-
| width="100%" align="center" | CAL Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Public||40.53
|-
|2||SSNIT
||26.11
|-
|3||Afare Donkor||10.84
|-
|4||Daniel Ofori||8.45
|-
|5||Renaissance Securities (Cyprus)||3.59
|-
|6||Frank Adu Jnr.||3.13
|-
|7||Vanguard Assurance Company Limited||3.02
|-
|8||HSBC Bank Plc
||2.22
|-
|9||Barclays Capital Securities (Cayman Clients)||1.12
|-
|10||Benjamin Fosu Ansah||0.99
|-
|||Total||100.00
|-
|}
, at 23 Independence Avenue. , the bank operated fifteen (15) networked branches at the following locations:
of whom two (2) are Executive Director
s and seven (7) are non-executive. The Acting Chairman of the Board is Paarock A. Vanpercy, one of the non-executive directors.
Frank Adu Jnr is a graduate of the University of Ghana
. He holds a Bachelor's degree (BSc
) in Geography and a Master of Business Administration
(MBA). Prior to becoming the Managing Director at CAL Bank, he has held several managerial positions at the bank including:
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
involved primarily in meeting the banking needs of small, medium and large corporations. It is one of the twenty-seven (27) licensed commercial banks in the country. Founded in 1990, CAL Bank is rated as "one of the most innovative banks in Ghana", according to its website.
Ownership
The stock of CAL Bank is traded on the Ghana Stock ExchangeGhana Stock Exchange
The Ghana Stock Exchange is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently has around 30 listed companies and 2 corporate bonds. All types of securities can be listed. Criteria for listing include capital adequacy,...
under the symbol CAL. , the stock ownership of the bank is reflected in the table below:
{| style="font-size:100%;"
|-
| width="100%" align="center" | CAL Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||Public||40.53
|-
|2||SSNIT
SSNIT
The SSNIT, or the Social Security and National Insurance Trust, is an important agency of the government of Ghana. The "job description" of the SSNIT, according to its website, is to administrate the National Pension Scheme...
||26.11
|-
|3||Afare Donkor||10.84
|-
|4||Daniel Ofori||8.45
|-
|5||Renaissance Securities (Cyprus)||3.59
|-
|6||Frank Adu Jnr.||3.13
|-
|7||Vanguard Assurance Company Limited||3.02
|-
|8||HSBC Bank Plc
HSBC Bank (Europe)
HSBC Bank plc is one of the four major clearing banks in the United Kingdom and is a wholly owned subsidiary of HSBC Holdings. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and...
||2.22
|-
|9||Barclays Capital Securities (Cayman Clients)||1.12
|-
|10||Benjamin Fosu Ansah||0.99
|-
|||Total||100.00
|-
|}
Branch Network
CAL Bank is headquartered in AccraAccra
Accra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
, at 23 Independence Avenue. , the bank operated fifteen (15) networked branches at the following locations:
- Kejetia Branch - Prempeh, KumasiKumasiKumasi is a city in southern central Ghana's Ashanti region. It is located near Lake Bosomtwe, in the Rain Forest Region about northwest of Accra. Kumasi is approximately north of the Equator and north of the Gulf of Guinea...
- KNUST Branch - Hospital Road, KumasiKumasiKumasi is a city in southern central Ghana's Ashanti region. It is located near Lake Bosomtwe, in the Rain Forest Region about northwest of Accra. Kumasi is approximately north of the Equator and north of the Gulf of Guinea...
- Nhyiaeso Branch - Old Bekwai Road, KumasiKumasiKumasi is a city in southern central Ghana's Ashanti region. It is located near Lake Bosomtwe, in the Rain Forest Region about northwest of Accra. Kumasi is approximately north of the Equator and north of the Gulf of Guinea...
- Suame Branch - Suame, KumasiKumasiKumasi is a city in southern central Ghana's Ashanti region. It is located near Lake Bosomtwe, in the Rain Forest Region about northwest of Accra. Kumasi is approximately north of the Equator and north of the Gulf of Guinea...
- Derby Avenue Branch - Derby Avenue, AccraAccraAccra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
- Graphic Road Branch - Graphic Road, AccraAccraAccra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
- Head Office & Main Branch - Independence Avenue, AccraAccraAccra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
- Ring Road Branch - Ring Road West, AccraAccraAccra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
- Spintex Road Branch - Spintex Road, AccraAccraAccra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
- Tema Harbor Branch - Tema Harbor, TemaTemaTema is a city on the Atlantic coast of Ghana, lying east of the Ghanaian capital city, Accra, in the region of Greater Accra. As of 2005, Tema had a population of 209,000. The Greenwich Meridian passes directly through the city...
- Tema Industrial Area Branch - TemaTemaTema is a city on the Atlantic coast of Ghana, lying east of the Ghanaian capital city, Accra, in the region of Greater Accra. As of 2005, Tema had a population of 209,000. The Greenwich Meridian passes directly through the city...
- Weija Branch - Dunkonaa Estate - Weija
- Takoradi Harbor Branch - Takoradi Harbor, Takoradi
- Takoradi Market Branch - Takoradi Market Circle, Takoradi
- Tarkwa Branch - Tarkwa
Directors
CAL Bank is governed by a nine (9) person Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of whom two (2) are Executive Director
Executive director
Executive director is a term sometimes applied to the chief executive officer or managing director of an organization, company, or corporation. It is widely used in North American non-profit organizations, though in recent decades many U.S. nonprofits have adopted the title "President/CEO"...
s and seven (7) are non-executive. The Acting Chairman of the Board is Paarock A. Vanpercy, one of the non-executive directors.
Executive Management
Frank Brako Adu Jnr is the Managing Director of CAL Bank. There are thirty six (36) other managers with whom the Managing Director supervises the day-to-day activities of the bank.Frank Adu Jnr is a graduate of the University of Ghana
University of Ghana
The University of Ghana is the oldest and largest of the thirteen Ghanaian universities and tertiary institutions. It is one of the best universities in Africa and by far the most prestigious in West Africa...
. He holds a Bachelor's degree (BSc
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
) in Geography and a Master of Business Administration
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
(MBA). Prior to becoming the Managing Director at CAL Bank, he has held several managerial positions at the bank including:
- Deputy Managing Director
- Bank Treasurer
- Credit and Relations Banking Officer.