{"id":741208,"date":"2019-11-09T13:28:06","date_gmt":"2019-11-09T13:28:06","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/11\/09\/calbank-outlines-strategies-to-digitally-transform-operations\/"},"modified":"2019-11-09T13:28:06","modified_gmt":"2019-11-09T13:28:06","slug":"calbank-outlines-strategies-to-digitally-transform-operations","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/11\/09\/calbank-outlines-strategies-to-digitally-transform-operations\/","title":{"rendered":"CalBank outlines strategies to digitally transform operations"},"content":{"rendered":"<p><\/p>\n<div itemprop=\"articleBody\">\n<p class=\"MsoNormal\" style=\"text-align:justify\"><b><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">By<br \/>\nJulius K. Satsi, GNA<\/span><\/b><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">Accra, Nov.09, GNA &#8211;<br \/>\nCalBank will in the next three years focus on the digital transformation of its<br \/>\noperations to enhance performance and provide access to products and services<br \/>\nfor customers at their convenience.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">The bank would also<br \/>\nenhance the bank\u2019s digital strategy, introduce new products and provide bespoke<br \/>\nservices to grow the bank.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">Mr Philip Owiredu,<br \/>\nthe nominated Chief Executive Officer (CEO) of the Bank, revealed this when he<br \/>\nspoke at the bank\u2019s \u2018Facts behind the Figures\u2019 programme organised by the Ghana<br \/>\nStock Exchange (GSE), to provide a platform for listed companies to give<br \/>\ninformation to the investing public.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">He said the Bank<br \/>\nwould adopt some measures to increase non-funded income as against funded<br \/>\nincome to maximise profit in the coming years.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">Mr Owiredu said the<br \/>\nBank would increase women access to banking services by using its agency<br \/>\nbanking, a product the bank introduced some six weeks ago.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">He said the bank had<br \/>\nacquired a Certificate of Participation (COP) in the international market and issued<br \/>\na paper bought by investors in the New York.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">The nominated CEO<br \/>\nsaid the COP, which is a 12-year facility, would enable Small-to-Medium<br \/>\nEnterprises to access loan facilities from the bank towards boosting their<br \/>\nbusiness operations.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">Mr Frank Adu Jnr,<br \/>\nthe Outgoing CEO of Bank, who will bow out on December 31, this year said<br \/>\nCalBank was a good institution, noting that he was confident his successor<br \/>\nwould take the bank beyond its current state.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">He urged all and<br \/>\nsundry to support his successor to prosper, saying: \u201cMy departure at the end of<br \/>\nthis year is actually going to be a blessing to the bank as opposed to anything<br \/>\nelse\u201d.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">Responding to issues<br \/>\nof high interest rate, the CEO said high interest rates were not caused by the<br \/>\nbanks but were a reflection of the management of the economy.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">Mr Ekow Afedzie, the<br \/>\nManaging Director of the Ghana Stock Exchange, commended CalBank for being the<br \/>\nonly company committed to appearing twice every year on \u2018Facts behind the<br \/>\nFigures\u2019 since listing on the exchange in November 5, 2004.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">He said: \u201cCal has<br \/>\nbeen very consistent in terms of complying with all the disclosure requirement<br \/>\nof the exchange, and that, information flow from listed companies to the<br \/>\ninvesting public is very critical for decision making, which is the idea behind<br \/>\nthe \u2018Facts behind the Figures\u2019\u201d.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">Mr Afedzie said Cal<br \/>\nwas the most liquid stock on the market because its 24,000 shareholders were<br \/>\nalways trading on the market but said that, however, could affect the share<br \/>\nprices if the market was not doing well.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">He commended Mr<br \/>\nFrank Adu Jnr, the Outgoing CEO of the Bank for his instrumental role in the<br \/>\ngrowth of the Exchange, especially as he led a number of interventions during<br \/>\nhis 12-year role as Chairman of the Council of the GSE.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">Mr Afedzie said<br \/>\nbefore the end of this year, the GSE would introduce a number measures to calm<br \/>\ndown rapid declining of prices on the market using small volumes, and that the<br \/>\nExchange would also ensure the improvement of liquidity on the market by<br \/>\nintroducing new features.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"text-align:justify\"><span lang=\"EN-GB\" style=\"font-size:11.0pt;font-family:&quot;Tahoma&quot;,&quot;sans-serif&quot;\">GNA<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Julius K. Satsi, GNA Accra, Nov.09, GNA &#8211; CalBank will in the next three years focus on the digital transformation of its operations to enhance performance and provide access to products and services for customers at their convenience. The bank would also enhance the bank\u2019s digital strategy, introduce new products and provide bespoke services [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":741209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-741208","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CalBank outlines strategies to digitally transform operations - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/11\/09\/calbank-outlines-strategies-to-digitally-transform-operations\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CalBank outlines strategies to digitally transform operations - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By Julius K. 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