CAL Bank unaudited results show 48% growth in total income for 2014

CAL Bank’s 2014 full year unaudited results show that the bank has returned a 48.3% growth in Total Income, 55.6% growth in Pre- Tax profits and 73.6% growth in Total Assets.

Also the results show that the indigenous Ghanaian Bank have yielded an Average ROA of 6.7% and an Average ROE of 41.7% to its shareholders.

CEO of the bank, Frank Adu Jnr, said the achievement in 2014 “is principally as a result of strong growth in non-funded income, enforcing strong risk management to achieve higher quality assets and by driving operational efficiency through process automation”.

Mr Adu Jnr notes that the intense power shortages, prevailing high inflation and interest rates suggest 2015 would prove to be another trying year for businesses and for the banking sector.

“Our 2015 objectives focus on selective asset growth in targeted sectors, reinforcing our current operating efficiency, rolling out new branches to drive deposits and scaling up our IT infrastructure to offer additional channel expansion. Despite the challenges, our clear objective is to generate growth and increase profitability for our clients and shareholders in 2015”, said Mr Adu Jnr.

Click on here to access the full CAL Bank 2014 unaudited results.

More Business & Finance »

This article has 0 comment, leave your comment.