CalBank has denied a report that its Managing Director, Philip Owiredu, is on his way out of the bank.

In a statement, the Bank said an earlier report suggesting that Mr. Owiredu was exiting the bank is inaccurate.

“We wish to inform you that this reportage is false and has extremely serious consequences for the Bank. As a listed company, all information put out about the Bank must be accurate and factual as erroneous reportage has serious implications for the Bank’s reputation and profile”.

Mr. Owiredu assumed office as managing director of CalBank in January 2020.

[Editor’s Note: JOY Business retracts its earlier story on the purported exit of Mr. Philip Owiredu and apologizes accordingly]