Cal Bank recorded a marginal 3.9% year-on-year growth in profit in 2021 to ¢215 million, despite the impact of COVID-19 on the Ghanaian economy, particularly in the first half of the year, its 2021 Audited Financial Statement has revealed.

With the exception of interest income which it witnessed a decline in growth, it registered growth in all its income lines – net fees and commission and net trading income.

The drop in interest income from ¢519.6 million in 2020 to ¢465.3 million in 2021 was as result of a high interest expense on the profitability statement.

However, shareholders will enjoy a marginal increase in earnings per share (EPS). EPS increased from ¢0.3304 in 2020 to ¢0.3441 in 2021.

The balance sheet of the bank remained strong despite the bank’s loan and advancement going down marginally in 2021.

Customer deposits shot up significantly by 23.9% to ¢5.16 billion in 2021. This was as a result of its aggressive focus on retail banking.

Total shareholders’ equity also went up to ¢1.25 billion in 2021, from ¢1.11 billion in 2020.

From the financial soundness indicators, Cal looked stronger and robust as Non-Performing Loans went down slightly to 11.2% in 2021, from 13.5% in 2020.

Capital Adequacy Ratio, which is a measure of a bank’s capital by its risk-weighted assets, was also way above the industry threshold. It stood at 24.5% in 2021.

The bank is also one of the most liquid banks in Ghana with a liquidity ratio of 233%.

Financial Soundness Indicators	2021	2020
Capital Adequacy Ratio	24.5%	21.9%
Non-Preforming Loans	11.2%	13.5%
Liquidity Ratio	233.3%	216.7%