The GSE Composite Index was up 48.10 points (+2.20%), advancing for the sixth consecutive session due to gains in three banking and telecom counters to close at 2,236.47 with a -13.05% year-to-date return while market capitalization increased by 0.88% to settle at GH¢56.74 billion. Financial stocks were among the best performers on the day. The […]
Tag: cal bank
Tanzania: Absa Opens First New-Look Branches in Dar
Barclays Bank Tanzania opened the first Absa-branded branch in Dar es Salaam on Tuesday as a rebranding journey of the bank from Barclays to Absa gets underway. The new Barclays Bank branch with the new Absa Group branding and new colours was opened in Mikocheni area in the city to mark a significant milestone in […]
PDS weighs legal options against GoG over deal termination
The government terminated the deal following the detection of fundamental and material breaches Power Distribution Services Limited (PDS) has said it is “carefully weighing its options” as far as its response to the Government of Ghana’s termination of its power distribution deal with the private firm, adding that it “continues to reserve all its rights […]
Cal Bank 3rd quarter profit increases
Mr Philip Owiredu (left) speaking at the programme Photo Victor A. Buxton Cal Bank Ghana 2019 third quarter profit increased by 18.1 per cent to GH¢135 million, in-coming Managing Director of the bank, Philip Owiredu has said. The third quarter 2019 profit after tax of Cal Bank rose to GH¢135 million from GH¢115 million in […]
Government gets tough on non-tax revenue collection
Giving that the outturn of non-tax revenue for 2018 and first half of 2019 has been below target, government has initiated a policy measure to address revenue leakages due to fraudulent receipting and handling of cash. This is the expansion of the use of banks for collection of non-tax public revenues. In the first half […]
Interest rates reflect economy – CAL Bank MD fights proposal to cap rates
CAL Bank Managing Director, Frank Adu Jnr, is predicting dark times for Ghana’s banking sector should government legislate a cap on interest rates. President Addo Dankwa Akufo-Addo has raised concerns over the high-interest rates in the country warning it jeopardizes the cost of doing business in the country. But speaking at Cal Bank’s Fact Behind […]
Philip Owiredu appointed new MD of CAL Bank
The MD of CAL Bank Frank Brako Adu Jr. is expected to retire in December 2019. Philip Owiredu has been appointed to succeed him following the approval of the Bank of Ghana. He will assume the position on January 2020. The Executive Director and Chief Financial Officer of CAL Bank, Philip Owiredu, will succeed the […]
Mthuli hails RBZ swift action on CBZ, Ecobank
Africa Moyo Deputy News Editor Finance and Economic Development Minister Professor Mthuli Ncube has praised the Reserve Bank of Zimbabwe (RBZ) for swiftly acting against two banks alleged to have allowed their depositors to make withdrawals above the stipulated limit. CBZ Bank and Ecobank are in the eye of a storm after two of their […]
Ghana: Cal Bank 3rd Quarter Profit Increases
Cal Bank Ghana 2019 third quarter profit increased by 18.1 per cent to GH¢135 million, in-coming Managing Director of the bank, Philip Owiredu has said. The third quarter 2019 profit after tax of Cal Bank rose to GH¢135 million from GH¢115 million in the same period last year. Speaking at the bank’s turn of the […]
Ghana, MCC agree December 31 deadline for new power concession
The new concessionaires will manage the assets of state-owned power distributor, ECG The Ghana government and the Millennium Challenge Corporation (MCC) have agreed on a December 31 deadline for the establishment of a new power concession. This revelation follows the termination of the concessionaire agreement between Ghana government and Power Distribution Services Ltd (PDS) on […]