The 24 banks, currently operating in the country, registered an after-tax profit of GH¢1.1 billion, representing a year-on-year growth of 38.9 percent compared with 5.8 percent growth for the same period last year. The profit margin is a remarkable growth, after the clean-up of the banking industry. Majority of the profits were recorded largely by […]
Tag: cal bank
Tullow moves to bridge access to finance gap for SMEs
Madam Cynthia Lumor Tullow Ghana Limited (TGL) has begun a series of engagements aimed at bridging the access to finance gap to ensure effective participation of local suppliers in the petroleum industry. The first of the series, which brought together seven financial institutions and local suppliers on June 4 was to help the suppliers idenifty […]
GH¢95m transferred across different networks in Q1
Just a year after its launch, Mobile Money Interoperability—a system that makes mobile money transactions among different networks possible—has hit GH¢95.88million in value for the first quarter of 2019, the Payment Systems Statistics report published by the Ghana Interbank Payment and Settlement Systems (GHIPSS) has revealed. The report, published by the Ghana Interbank Payment and […]
Tullow initiates financing scheme for local suppliers
Tullow Ghana has brought together seven banks and over 250 indigenous suppliers in the oil and gas Industry to facilitate and institute easy access to credit financing and other financial sources in order for them to take advantage of business opportunities created by local content legislation in the industry. The financing process is in response […]
CAL Bank Teller Faces Court For Stealing Customers’ GH¢62,000
A teller at the Kejetia branch of CAL Bank, Kwabena Asante who forged the signatures of two customers and withdrew large sums of money from their accounts, has been granted a GH¢ 50,000.00 bail with one surety, by a Kumasi Circuit Court. He is said to have fraudulently withdrawn a total of GH¢ 62,000.00 from […]
Banks’ profit up 38.9%
Bank of Ghana The 24 banks, currently operating in the country, registered an after-tax profit of GH¢1.1 billion, representing a year-on-year growth of 38.9 percent compared with 5.8 percent growth for the same period last year. The profit margin is a remarkable growth, after the clean-up of the banking industry. Majority of the profits were […]
CAL Bank teller steals depositors’ ¢62k cash to settle debt
A teller at the Kejetia branch of CAL Bank who forged the signatures of two customers and withdrew large sums of money from their accounts, has been granted a GH¢ 50,000.00 bail with one surety, by a Kumasi Circuit Court. Kwabena Asante is said to have fraudulently withdrawn a total of GH¢62,000.00 from the accounts […]
Auditor-General report: NCA told to recover rent monies from NMC, Heritage Bank
Auditor-General, Daniel Yaw Domelevo The non-payment of rent by the National Media Commission (NMC) to the National Communications Authority (NCA) cost the authority US$141,648. The property in question, located at Cantonments, has been occupied by the NMC since December 2016, according to an Auditor General’s Report on some selected institutions. “Since their occupancy of the […]
President defends financial sector clean-up
President Akufo-Addo cutting the tape with Frank Adu Jr. (left), Managing Director, CalBank President Akufo-Addo has justified the decision of the Bank of Ghana (BoG) to sanitise the country’s banking industry which has led to the merger of a number of local banks. Speaking at the commissioning of a new head office building of Cal […]
CalBank to deploy about 2,000 agents for its agency banking
CalBank will be deploying about 2,000 agents across the country to drive its agency banking initiative aimed at boosting deposit mobilization for the bank. The move is part of plans by the bank to move away from the construction of office structures to the use of digital platforms for its operations. Managing Director of CalBank […]