2015 Nothing inspires us more than putting a smile on your face by CORPORATE supporting your ideas. PROFILE
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-29 Corporate Profile 2015 CONTENTS
1 IIntroduction Pages About Corporate Profile 3 About CAL Bank Limited 4 Our Strategic Focus 6 The CAL Bank History 7 2 F inancial profile Pages Group Income Statement 9 Group Balance Sheet 11 Industry Performance 17 Share Price Performance 20 3 A dditional Information Pages Risk Management 23 Director’s Profile 24 Shareholder’s Profile 27 Branch Network 28
Bank on Our Service
11-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-29 Corporate Profile 2015 1 Introduction
About CAL Bank Limited Our Strategic Focus The CAL Bank Group
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-292 Corporate Profile 2015 I N T R O D About the Corporate Profile U C T I O This corporate profile is a document meant for the N investor community and other interested/related 1 parties. It provides an introduction to CAL Bank and offers a simple but comprehensive handbook of important information to assist anyone wishing to know more about us.
This report is based on our latest year end financial figures (31st December, 2015).
Additional information The corporate profile should be read together with other information we have published, including the full 2015 annual report.
Our Investor Relations website at http://calbank.investoreports.com/investor/
contains information on us including financial information, corporate information, share price data, a calendar, dividend information, announcements and presentations.
For enquiries regarding information in this document please contact:
Investor Relations CAL Bank 23 Independence Ave. Accra, Ghana Tel: +(233) 302 685091 Email: [email protected]
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-293 Corporate Profile 2015 About CAL Bank I N T R O To be a leading financial service D U group creating sustainable value C T for stakeholders I O N
Who we are CAL Bank Limited was incorporated in March 1989, 1 under the Companies Code, 1963 (Act 179), as a CAL Bank private limited liability company. CAL Bank commenced was founded operations as a local merchant bank in 1990 with the sole in Ghana in aim of providing a truly differentiated world class banking 1990 solution. The Bank was formerly Continental Acceptances Limited and then CAL Merchant Bank Limited. CAL was listed on the The Bank’s founding shareholders in 1990 were Ghana Stock Inter-national Finance Corporation (IFC), Commonwealth Exchange in Development Corporation (CDC), African Growth Fund, 2004 Pryor McClendon Counts and Com-pany Inc. and Vanguard Assurance Limited.
In 2004 CAL Bank undertook a GHS 5.4 million initial public Offer (IPO) that was 4.5 times oversubscribed.
In 2009 the Bank undertook a succesful rights issue to attain GHS 25 million in stated capital.
In 2012 CAL Bank further increased its stated capital to GHS 100 million through a private placement which was 2.5 times oversubscribed.
What we do Services we offer:
We are a licensed • Domestic Banking services universal Bank with • International Banking services a diverse range of • Private Banking services financial products • Treasury services and services • Retail & Business Banking • Corporate & Institutional Banking • Corporate Finance
Operational footprint
• 25 branches and 93 ATMs • Operational in 3 dominant business regions of Ghana
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-294 Corporate Profile 2015 I About CAL Bank N T Our subsidiaries: R O • CAL Brokers Limited - a licensed dealing member of the Ghana D Stock Exchange with the following services: securities trading, portfolio U C management, market research and investment banking. T I O • CAL Asset Management Limited - a wholly owned subsidiary of CAL N Bank Ltd, is a licensed investment advisor set up to manage funds such as staff 1 provident funds, end of service benefits, pension funds, collective investment schemes as well as provide investment advisory services to investors.
• CAL Nominees Limited - a custody and securities administration services provider providing world class custody solutions to both local and foreign institutional investors. They offer safekeeping and securities administration services that can be launched instantly as a plug-n-play service platform.
Our Promise At CAL Bank our promise is to deliver service you can always Bank on. We have over the years committed to this promise and have ensured that we continuously offer our customers comprehensive, personalized Banking solutions. Our focus is to understand every individual or corporate entity’s preferences and needs and provide tailor made services.
Our Culture CAL Bank is made up of a youthful team with the passion and energy to innovate and continually redefine service in the Banking industry in Ghana. Our innovative culture enables us to develop products and services that are suitable for today’s ever changing business environment.
Our Service At every stage of our operations we need to be speedy, accurate and timely. Our ever advancing technology equips us with the needed tools to provide excellent service and value to our client. Our outstanding service provision gives us a competitive edge and keeps us out of the reach of our competition
Our Core Values
Efficient and Results Effective Focused
Passionate about Service
Proactive Flexible and Innovator Decisive
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-295 Corporate Profile 2015 Our Strategic Focus I N T R Our current strategic framework is O D focused on the following 5 pillars: U C T I O Strategy & Outlook N • Develop e-payment platforms with emphasis on digital channels. 1 • Leverage on growing card schemes to offer diversified card services for enhanced customer experience, positively impacting on our customer Retail base and translating into increased deposits. • Promote financial inclusion by deploying digital solutions to offer Banking branchless banking services. • Refresh existing products and services by leveraging on enhanced technology to improve customer experience and market competitiveness.
• Employ cutting-edge technology to deliver enhanced tailor-made solutions for our corporate customers to offer them convenience and real-time banking. Corporate • Enhance forex generating capacity to ensure we meet forex needs of our Banking customers. • Enhance relationship management and product knowledge.
• Implement a comprehensive performance management and reward systems. • Deepen staff skills and knowledge. People • Develop and implement structured career progression and succession planning program. • Enhance organizational competence. • Implement workplace health and safety program.
• Leverage on growth in digital and mobile technology to develop cutting edge solutions that will offer customers convenience and also reach out to the unbanked. Technology • Enhance transaction and process efficiency through technology. • Continuous and sustained investments in technology to ensure development of up-to-date, efficient products and services.
• Enhance loan monitoring and early-detection toolkits to improve quality of loan portfolio. • Maintain low NPL ratio. Risk Management • Continuously develop risk management and compliance culture & Compliance amongst staff through training and other staff engagements. • Ensure adherence to regulatory requirements and best practice compliance procedures.
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-296 Corporate Profile 2015 I The CAL Bank History N T Recognition: R O The Bank’s operations have been recognized by the banking and business D community in Ghana and the Bank has won a number of awards: U C T CAL Bank - Ghana Banking Awards I O N 1
2014 1st Runner Up - Corporate Social Responsibility
Best Bank - Trade Finance 2nd Runner Up - Mobile Banking 2012 2nd Runner Up - Financial Performance 2nd Runner Up - Advisory Services 2nd Runner Up - Medium Term Loan Financing Best Bank - Retail Banking 2011 2nd Runner Up - IT and Electronic Banking Best Bank – Trade Finance Best Bank – Long Term Loan Financing 1st Runner Up – Medium Term Loan Financing 2010 1st Runner Up – Short Term Loan Financing 1st Runner Up – Product Innovation 2nd Runner Up – Corporate Banking
2nd Runner Up – IT and Electronic Banking 2009 2nd Runner Up – Advisory Services Best Bank – Medium Term Loan Financing Best Bank – Retail Banking 2008 1st Runner Up – IT and Electronic Banking 2nd Runner Up – Long Term Loan Financing 2nd Runner Up – Advisory Services
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-297 Corporate Profile 2015 Financial 2 Profile
Highlights For 2015 Track Record Financial Objectives
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-298 Corporate Profile 2015 Full Year 2015 - Group Income Statement
Summarized Income Statement FY 2015
(GHS ‘000) FY 2015 3Q 2015 FY2014 ΔY/Y
F Interest Income 466,822 333,056 355,027 32% I N P A R Interest Expense (218,192) (157,131) (170,943) 28% N O C F I I A L Net Interest Income 248,630 175,925 184,084 35% L E 2 Fees and Commission Income 69,841 52,826 54,921 27%
Fees and Commission Expense (4,511) (3,592) (3,019) 49%
Net Fees & Commissions 65,330 49,234 51,902 26%
Net Trading Income 70,699 59,359 76,337 (7%)
Other Income 16,357 9,015 12,755 28%
Operating Income 400,997 293,533 324,942 23%
Credit Loss Expense (35,677) (17,440) (20,478) 74%
Net Operating Income 365,320 276,093 304,464 20%
Total Operating Expense (144,031) (107,171) (106,067) 36%
Profit Before Tax 221,308 168,978 198,533 11%
Income Tax Expense (44,005) (42,122) (45,454) (3%)
National Fiscal Stabilisation Levy (11,065) (8,364) (9,928) 11%
Profit-After-Tax 166,238 118,492 143,151 16%
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-299 Corporate Profile 2015 Full year 2015 Group Income Statement N E In c
GHS Millions T 10 0 15 0 20 0 25 0 30 0
50.0 I N T - .0 .0 .0 .0 .0 ER E ome 10.2% S F T Y
11 I
41.4 N C
O F
M I F Anal y E Y 10.1% N P 12 84.6 a A R nd
12.2% N O N
N E C F II
F I I Y T
13 A L
143.7 I N T L E N ER E 9.9% IM sis 2 F Y S 14 184.1 T
M A R F G Y I 15 248.6 N 9.5% A N A 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 0.0% 2.0% L Y SIS F F F F F Y Y Y Y Y 1 1 1 1 1 N e 5 4 3 2 1 t F O N N e N O es & C o e e t h 14.6 I n t T t F 25.8 e c 29.7 o r N ees ra d m e 10. 5 I n - c FUNDED i mmi s 51.9 & C o n o
t y
g
me 65.3 13.9 4.4
p I n e mmi s c s o i o 31.2 8.9 me n s s i I o N C n s N e 14.4 O t T ME r a d i n 76.3 g I n 70.6 c o me O t h 12.6 e r I n C 16.3 A 45.3% 39.1% 60.9% c GR o me ( % ) G H S Mi 140 . 152 . 29. 6 T 48.6m 75. 3 O l li o T 8m 2m A m m n L s
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2910 Corporate Profile 2015 Full year 2015 Group Income Statement C r CRED I GHS Millions edit Loss F T Y
L
O 1 11.5 1 S
EXPENSE
F F
I Y
N P 1 17.5 A R 2 N O C F F
I I Y E x
A L 1 17.5 L E 3
2 pense F Y
1 20.5 4 F Y
1 35.7 5 and NPLs N O GHS Millions 1 0 12 0 N 20.0 40.0 60.0 80.0 0.0 PE R - .0 F O R F 9.7% Y M 11 42.6 I N G L O F 5.1% Y A 12
39.1 NS N PLs 7.9% F Y 13 80.7 N PL Ra tio F Y 6.2 % 14 85.2 F Y 15 103.3 5.5% 0.0% 2.0% 4.0% 6.0% 8.0% 1 0 12.0% .0%
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2911 Corporate Profile 2015 Full Year 2015 10 . 20 . 30 . 40 . 50 . 60 . C P 0 O . 0 0 0 0 0 0 0 S r % % % % % % % T - o t Dri v T O - F 50.9% I N C Y
1 1 O ME - R F Y A F 36.6%
T 1 I 2 I O N P A R e r 33.8%
F N O Y
C F 1 3 s I I A L L E 32.6% F Y
1 2 4 35.9% F Y
1 5 12 . 16 . 20 . 24 . C 0 4 8 . . . O 0 0 0 0 0 0 0 % % % % % % % S T O 10.4% F F FUNDS Y
1 1 16.5 % F Y
1 2 17.8% F Y
1 3 F 18.7% Y
1 4 F 17.0% Y
1 5
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2912 Corporate Profile 2015 Full Year 2015 Group Balance Sheet
Summarized Balance Sheet FY 2015
(GHS ‘000) FY2015 3Q 2015 FY2014 ΔY/Y
Investments in Government Securities 291,868 956,491 409,217 (29%)
F I Loans and Advances to Customers 1,805,285 1,529,894 1,337,205 35% N P A R N O C F Other Assets 1,133,597 439,803 890,053 27% I I A L L E Fixed Assets 133,750 107,006 78,917 69% 2 Total Assets 3,364,500 3,033,194 2,715,392 24%
Total Deposits 1,602,832 1,397,099 1,395,841 15%
Borrowings 1,113,452 998,543 827,455 35%
Other Liabilities 128,717 163,397 92,555 39%
Shareholders Equity 519,499 474,155 399,541 30%
Total Liabilities and Shareholders Equity 3,364,500 3,033,194 2,715,392 24%
Earnings per share (GHS per share) 0.3032 0.2161 0.2611 16%
Dividends per share (GHS per share) 0.0970 N/A 0.0810 20%
Return on Assets (%) 4.9 5.2 5.3 (8%)
Return on Equity (%) 32.0 33.3 35.8 (11%)
Capital Adequacy Ratio (%) 21.4 20.1 21.8 (2%)
Cost-to-Income Ratio (%) 35.9 36.5 32.6 10%
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2913 Corporate Profile 2015 FY 2015 Key ratios T G r O T
GHS Millions A L 1 , 1 , 2 , 2 , 3 , 3 , 4 , o
A 50 0 00 0 50 0 00 0 50 0 00 0 50 0 00 0 S wing E T
- .0 .0 .0 .0 .0 .0 .0 .0 S
F Y F 11 809.4 I N P A R As se t Base 2011
F Y N O
12 1,162.9 C F I I A L L E F Y 13 1,564.1 2 F Y
14 2,715.4 F Y
15 3,364.5 - 201 5 T O E P
In v 2014 2015 T In v qu i r op e A e 3% e p m 15% L s s 9% t E P r t
m t qu i m r A y O e op e
e nt & e t S n t 4% h e p m n t
O 24% r s s r t t E T
y h e e A
nt & ss e 26% r
M A t ss e s I X t s C ash & C B a l ash & B A 9% anc e a l L dvan c oans 7% anc e 49% B an k B s an k A & s es L
dvan c
oans 54%
& es
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2914 Corporate Profile 2015 Full Year 2015 Group Balance Sheet
GHS Millions Loan P L 1 0 L O T O 1 0 2 0 3 0 4 0 5 0 6 0 7 0 8 0 9 0 O 0% 0% A A T % % % % % % % % % N A N L S D I S F Y T 411 R 11
89.4% I m 10.6% B U T ort f IO N
F Cor p 747m I F Y 12 B N P o 90.8% 9.2% r a A R Y te N O CU S olio
C F 980 F Y T R e
I I O m 13 t a A L 87.5% 12.5% M il L E ER T 1 , F Y YPE 2 337m 14 83.7% 16.3% 1 , F Y 806m 15 95.3% 4.7% El e El e c 2014 2015 t r L W c ici t y 17 % t r O a Wa t C ici t y t e 26 % M o A , r n s G a a M e n u N , 20 % t r r G a a s C n u u c f 3 & a D I o s % c t i n s f 3 & t u a o % 25 % c t r S n r t u i u c ng T r i t i R ng Q o M i I n u a B U n 3 rr y i % n g i T ng
& IO N M i s B c e Q Y M 5 ll a u a % i n i n S E 2 rr y e % n g o i u C T ng
& s O R M Go v i s c e 14 % e r 4 ll a n m % n e Go v e o nt us e 7 r n m % S e e 12 % C nt r v o ic e F m i n a 19 % s T & C S T & C ra n s e n c e ra n s C 10 % r r A g c o v o e o e A g ic e m F m p o
m r p o & i < 1 ic u l n a 21 % r s 2 r < 1 ic u l 3 t, r u nic a % e % n c t, u nic a % t u r S % c S e t o t u e r t o e
& ra g r t i ra g e t i o o n e n e
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2915 Corporate Profile 2015 GHS Millions Deposit P 100.0% DEP O C 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% D U S 0.0% E P T O O S M I T SI T E S R
586.8m M
F Y 65.7% 34.3% I 11 X B Y
L F CU R o c
706.7m I al C 74.9% 25.1% F Y N P R 12 u E N ort f
r A R
e N O n CY c
y C F I I
799.2m 73.0% 27.0% F Y A L F 13 olio o L E r e i g n
C u 2 1,348 r re 67.4% 32.6% F Y n 14 c y . 20 1 2m
1,544 30.6% F Y 69.4% 15 1 . 5m - 201 5
GHS Millions C 1 0 1 2 D U S 2 0 4 0 6 0 8 0 E 0. 0 0.0% 0.0% P T DEP O .0% .0% .0% .0% O O S M % I T E S R
SI T 46.9%
F Y 586.8m M 11 I 50.0% 3.1% X B Y T YPE
706.7m 43.3% Cur r F Y
12 4.3%
e 52.4% n t T 799.2m i m 48.9% F Y e 5.1% 13 46.0% Sa v i n gs 1,348 . 50.5% F Y
14 45.6%
2m 3.9%
1,544 . 48.5% F Y 15
5m 46.3% 5.2%
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2916 Corporate Profile 2015 Full year 2015 Group Balance Sheet B r an c 10 15 20 25 30 0 5
F h I F Y 586.8 N P E x 20 1 A R 18
N O 1
C F pansion I I A L L E 2 F Y 706.7 20 1 19 2 & D e Bra n C A c h G N R
e 8.6% t w F Y posit G r 799.2 o 20 1 rk 20 3 C u s C A t o G m R e
27.4% r D F Y o e 1 , p 20 1 348.2 o s
21 wth i ts 4 F Y 1 , 20 1 544.5 25 5 2 0 4 0 6 0 8 0 1,0 0 1,2 0 1,4 0 1,6 0 1,8 0 0 0 0 0 0 0 0 0 0 0
GHS Millions
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2917 Corporate Profile 2015 Full year 2015 Group Balance Sheet Fundi n
F A T g SS E
O I
T N P A T L S
A R Mix N O C F 809.3m F I I Y
A L 1 75.6% 13.0% 11.4%
1 L E 2 1,162 F Y
1
. 68.4% 18.6% 11.2% 9m 2 D e p o s its E q u 1,564 . ity F Y
1m 1 53.3% 22.2% 24.5% 3 Borr o w i n g 2,715 . F Y 4m
1 51.3% 18.4% 30.5% 4 3,364 . F Y
1 5m 47.6% 19.3% 33.1% 5
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2918 Corporate Profile 2015 Full year 2015 Group Balance Sheet Capi t 0. 0 2. 0 4. 0 6. 0 8. 0 1 0 2 0 3 0 4 0 5 0 R 0. 0 R E T .0% .0% .0% .0% .0% E T % % % % % % U R U R N N F Y O 2.6% 20.2% F Y O 11 N 11 N al A A VER A VER A F F Y
I 5.2% 34.8% F Y G 12 N P G E 12 E
A R E A N O Q S C F UI T E T F Y 6.9% 37.8% F Y
I I Y S 13
A L 13 L E 2 F Y 41.7% F Y 6.7% 14 14 F Y 36.2% F Y 5.5% 15 15 CAPI T 10 . 12 . 15 . 17 . 20 . 22 . 25 . 5 7 . . 0 5 0 5 0 5 0 5 0 % % % % % % % % % AL A 11.6% D E F Y Q U
1 1 A CY R A F 20.0% Y
1 T 2 IO 19.4 % F Y
1 3 R e g u l F at o 21.8% Y
1 r y 4 M i n i mum : F 21.4% Y
1 5 10%
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2919 Corporate Profile 2015 Full year 2015 Share Price Performance Sha r
Volume Traded Thousands 10,000 12,000 14,000 16,000 18,000 2,000 4,000 6,000 8,000 e P - Jan-1
1 Mar-1 F 1 rice Chart May-1 I N P 1 Jul-1 A R
1 N O Sep-1 C F 1 I I Nov-1 A L 1 L E Jan-12
Mar-12 2
May-12
Jul-12
Sep-12
Nov-12
V Jan-13 olume
Mar-13 T
raded May-13
Jul-13
Sep-13 Share Price Nov-13
Jan-14
Mar-14
May-14
Jul-14
Sep-14
Nov-14
Jan-15
Mar-15
May-15
Jul-15
Sep-15
Nov-15 - 0.20 0.40 0.60 0.80 1.00 1.20 1.40
Share Price (GHS)
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2920 Corporate Profile 2015 Full year 2015 Group Balance Sheet P P R ricing E I F CE Y
- 1
4.11x T 1 O - E A R F N I Y N G
F 1 4.03x 2
I S v
N P R A A R olution T I F
N O O Y
C F 1 5.69x
I I 3 A L L E F Y
2 1 3.87x 4 F Y
1 3.30x 5 P R I CE F Y -
T 1 0.79x O 1 - B O OK F Y R
1 1.00x A 2 T I O F Y
1 1.85x 3 F Y
1 1.39x 4 F Y
1 1.06x 5
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2921 Corporate Profile 2015 FIVE YEAR CONSOLIDATED FINANCIAL SUMMARY
in thousands of Ghana Cedis
2015 2014 2013 2012 2011
Interest Income 466,822 355,027 266,731 145,660 75,814 Interest Expense (218,192) (170,943) (122,988) (61,084) (34,420)
F I Net Interest Income 248,630 184,084 143,743 84,576 41,394 N P A R N O Commissions and fees 65,330 51,902 29,766 25,824 14,646 C F I I Other Operating Income 87,037 88,956 45,644 22,654 14,904 A L L E Operating Income 400,997 324,942 219,153 133,054 70,944 2
Total Operating Expenses (144,031) (106,067) (74,072) (48,800) (36,135) Credit Loss Expense (35,677) (20,478) (17,515) (17,461) (11,465)
Operating Profit 221,289 198,397 127,566 66,793 23,344
Other Income 19 136 36 126 8
Profit before income tax 221,308 198,533 127,602 66,919 23,352
Taxation (44,005) (45,454) (31,060) (15,203) (5,187) National Fiscal Stabilization Levy (11,065) (9,928) (3,003) - (1,260)
Profit after Taxation 166,238 143,151 93,539 51,716 16,905
Total assets 3,364,500 2,715,392 1,564,074 1,162,855 809,364 Total Deposits 1,602,832 1,395,841 833,809 794,556 611,719 Loans and Advances 1,805,285 1,337,205 980,407 747,385 411,582 Total Shareholders’ Equity 519,499 399,541 287,039 207,424 88,354 Earnings per share (Ghana Cedis per share) 0.3032 0.2611 0.1706 0.0943 0.0681 Dividends per share (Ghana Cedis per share 0.0970 0.0810 0.0530 0.0350 0.0260 Number of Shares (‘000) 548,262 548,262 548,262 548,262 248,262 Return on Assets 4.9% 5.3% 6.0% 4.4% 2.1% Return on Equity 32.0% 35.8% 32.6% 24.9% 19.1% Capital Adequacy Ratio 21.4% 21.8% 19.4% 20.0% 11.6% Cost-to-Income Ratio 35.9% 32.6% 33.8% 36.6% 50.9%
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2922 Corporate Profile 2015 Additional 3 Information
Risk Management Director’s Profile Shareholder Profile
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2923 Corporate Profile 2015 DEPARTMENT STRUCTURE Risk Management & Compliance
RISK MANAGEMENT COMMITTEE OF THE BOARD • MR. PAAROCK VAN PERCY – CHAIRMAN • MR. JAMES BRENNER – MEMBER • DR. KOBINA QUANSAH – MEMBER • MR. MALCOLMN PRYOR – MEMBER • MR. EDUARDO GUTIERREZ – MEMBER • MR. KEN K. D. ALOR – MEMBER • MR. FRANK ADU – MEMBER (EX-OFFICIO)
I A N D F D O MANAGING I R DIRECTOR T M I A MR. FRANK ADU O T N I A O L N
ASSISTANT GENERAL MANAGER, 3 RISK MANAGEMENT DEPARTMENT MR. CHARLES K. AMOAH
INTERNAL CONTROL HEAD
ALM/MARKET RISK OPERATIONAL RISK COMPLIANCE MONITORING UNIT UNIT UNIT UNIT
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The Board of Directors continues to enhance CAL Bank’s governance and ensure adherence to good corporate governance procedures and practices. This is achieved by maintaining good internal control procedures, strict adherence to rules and regulations and conforming to legal & regulatory requirements through scheduled meetings of the board and other committees. The board has adopted a board charter that provides a clear framework for directors to execute their duties and also serves as a benchmark evaluating directors’ performance in accordance with international best practice.
I Mr. Paarock A. VanPercy - Chairman A N D F Mr. VanPercy is an Investment Banker. He is a Chartered D O I R Accountant by training and is a Fellow of the Institute T M of Chartered Accountants in England & Wales. He is the I A O T Chairman of CAL Asset Management Company Limited N I and holds directorships on the Boards of the Liberia Bank A O L N for Development and Investment, Sierra Leone Investments Limited, Afri-Invest Management Company Limited, and Afri 3 Holdings Limited. He is also the Principal Consultant of Afri Telecommunications & Media (ATM).
Mr. Frank B. Adu Jnr. - Managing Director Mr. Frank Adu Jnr. is an Investment Banker and the Managing Director of the Bank. He is Chairman of The Roman Ridge School and Golden Beach Hotels Group of Ghana. He is a council member for the University College of Agriculture & Environment, a board member of Metropolitan Life Insurance Company and the University of Ghana College of Humanities Advisory Board and a member of the Board of Governors of Presbyterian Boys Secondary School (PRESEC).
Mr. Philip Owiredu - Executive Director Mr. Owiredu is the Executive Director of CAL Bank. Prior to this, he was the Director of the bank’s Financial Control Department, which is responsible for all financial and management accounting support and compliance with legal and regulatory requirements. Mr. Owiredu joined the Bank in December 2004 from KPMG where he was a Senior Manager for eight years. He is on the board of CAL Asset Management Company. He is a fellow of the Association of Chartered Certified Accountants (UK).
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2925 Corporate Profile 2015 Dr. Kobina Quansah - Non-Executive Director Dr. Kobina Quansah, a retired seasoned banker by profession, was the first Ghanaian Managing Director of Barclays Bank Ghana. He is currently Chairman of Vodafone Ghana and Core Nett Limited. He is a director of Newmont Ghana Gold Limited and Pioneer Aluminum Kitchenware Limited. He serves as an advisory member on the University of Ghana Appeals Board and serves on the Achimota School Board of Governor.
I A N Mrs. Helen Nankani - Non-Executive Director D F D O Mrs. Nankani is a retired Senior Economist who worked I R with the World Bank for eighteen years. She was one of T M I A the pioneers of the World Bank’s work on Privatization of O T Public Enterprises, and Private Sector Development. She N I A O managed projects aimed at determining the economic and L N financial feasibility of private participation in the water 3 sector principally in South Asia, the Caribbean and Brazil, where she lived for four years. Prior to joining the World Bank, she worked as a consultant with Arthur D. Little Inc., Cambridge, Massachusetts, and The United Nations, New York, N.Y. She was also a partner at Financial Development Services, a consulting firm in Arlington, Virginia.
Mr. Eduardo Gutierrez - Non-Executive Director Mr. Eduardo Gutierrez has seventeen years of African private equity experience. He is a partner of Development Partners International LLP, UK, and a London-based, private equity fund. He was previously an Executive Director of Brait South Africa Limited and Brait Private Equity. Mr. Gutierrez has served on the boards of numerous companies including Eaton Towers Holdings LLP (UK), HomeChoice International PLC (Malta) and Venture Communications Holdings Limited (Mauritius). He is a qualified chartered accountant, trained at KPMG in South Africa, where he worked on and managed statutory audits of a number of companies across various countries.
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2926 Corporate Profile 2015 Mr. Malcolmn D. Pryor - Non-Executive Director Mr. Pryor has worked as an Investment Banker for thirty-four years. He began his career as an Institutional Fixed Income Salesman with Goldman Sachs & Co. He was Chief Executive Officer of Pryor, Counts & Co. Inc. for twenty- four years. He was the Chief Executive of a Private Equity Fund investing in the Southern Africa region (SAEDF). He has been a principal investor in West and Central Africa since 1987, principally in the financial services sector and he is a founding shareholder of CAL Bank.
I A N Mr. James C. Brenner - Non-Executive Director D F Mr. Brenner is the President and CEO of Broad Cove D O I R Partners, a Director of Eco-homes Liberia Inc. and is a T M member and founding Chairman of the Board of the I A O T Overseas Vote Foundation. N I A O L N 3
Mr. Noel Addo - Non-Executive Director Mr. Addo currently has oversight responsibility over the Investments and Development portfolio of the Social Security and National Insurance Trust (SSNIT) as a General Manager. Mr. Addo is an Investment Banker with over fifteen years’ experience. He is an economist and a Chartered Accountant. Prior to his appointment to SSNIT, he served as an executive director SAS Finance Group, Head of Treasury, University of Ghana, Legon and Deputy General Manager, HFC Investments. He is also a director of Trust Hospital Limited.
Mr. Ken Kobina Dela Alor - Non-Executive Director Mr. Alor is a Senior Investment Analyst of Social Security and National Insurance Trust (SSNIT). He has been with SSNIT since 1998 when he joined as a Compliance Officer and as an assistant to the General Manager Operations. He is also a member of the Board of Trustees of SSNIT Staff Second & Third Tier Occupational Pension Schemes.
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TOP TWENTY SHAREHOLDERS AS AT 31ST DECEMBER 2015
NAME VOLUME % OF ISC
SOCIAL SECURITY AND NATIONAL INSURANCE TRUST 181,913,182 33.18% ADP I HOLDING 4 151,830,692 27.69% IC ASSET MANAGERS (GHANA) LIMITED 21,234,139 3.87% STD NOMS TVL PTY/BNYM SANV/FRONTAURA GLOBAL FRONTIER FUND LLC 16,193,797 2.95% STD NOMS TVL PTY/CFC STANBIC NOMINEES LTD AC CENTUM EXOTICS 14,766,089 2.69% MR DANIEL OFORI 13,455,045 2.45% ADU JNR, FRANK BRAKO 11,949,676 2.18%
STD NOMS TVL PTY/BNYM SANV/ FRONTIER MARKET OPPORTUNITIES I MASTER FUND, L.P. 8,491,800 1.55% A N SCGN/NORTHERN TRUST GLOBAL SERVICES 7,956,700 1.45% D F D O ICAM/VANGUARD ASSURANCE EQUITIES PORTFOLIIO 5,765,861 1.05% I R STD NOMS TVL PTY/ BNYM SANV/KAPITALFORENINGEN INVESTIN PRO, T M I A AFRIKANSKE AKTIER 5,735,651 1.05% O T SCGN/SSB EATON VANCE TAX-MANAGED EMERGING MARKET FUND 4,406,554 0.80% N I A O SCGN/ELAC POLICYHOLDERS FUND 4,180,831 0.76% L N SCBN/CITIBANK LONDON ROBECO AFRIKA FONDS N.V. 3,914,900 0.71% STD NOMS TVL PTY/BNYM SANV/FRONTIER MARKET SELECT FUND II, L.P. 2,811,369 0.51% 3 SCGN/PICTET ET CIE(EUROPE) S.A RE THE NEWMARKET AFRICA MASTER FUND LIMITED 2,608,663 0.48% ANSAH BENJAMIN FOSU 2,571,551 0.47% COCOBOD END OF SERVICE BENEFIT SCHEME 2,462,593 0.45% DAMSEL/OTENG-GYASI ANTHONY 2,340,130 0.43% SCGN/CACEIS BANK LUX RE INTERFFEKT INVESTMENT FUNDS N.V 2,290,000 0.42% Top 20 shareholders 466,879,223 85.16%
Others 81,382,326 14.84% Grand Total 548,261,549 100.00%
ANALYSIS OF SHAREHOLDING AS AT 31ST DECEMBER 2015
No. of Holders No. of % of RANGE Shareholders % Shares Holding 1 - 1,000 18,667 79.58 9,753,793 1.78 1001 - 5,000 3,554 15.15 7,715,600 1.41 5001 - 10,000 476 2.03 3,581,291 0.65 10,001 - 20,000 295 1.26 4,177,229 0.76 20,001 - 30,000 136 0.58 3,377,608 0.62 30,001 - 40,000 52 0.22 1,789,364 0.33 40,001 - 50,000 39 0.17 1,784,848 0.33 Over 50,000 237 1.01 516,081,816 94.13 23,456 100.00 548,261,549 100.00
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-2928 Corporate Profile 2015 BRANCH NETWORK as at 31st December 2015
GREATER ACCRA REGION WESTERN REGION ACHIMOTA TAKORADI HARBOUR
AIRPORT CITY TAKORADI MARKET CIRCLE
DANSOMAN TARKWA
DERBY AVENUE
EAST LEGON I A N D F GRAPHIC ROAD D O I R T M INDEPENDENCE AVENUE ASHANTI REGION I A O T N I LABONE A O ASAFO MARKET L N LEGON 3 KEJETIA
OSU KNUST (TECH)
RING ROAD CENTRAL KUMASI NHYIAESO
RING ROAD WEST SUAME SPINTEX ROAD
TEMA COMMUNITY #1
TEMA COMMUNITY #25
TEMA MAIN
WEST HILLS MALL
Head Office: 23 Independence Avenue, P. O. Box 14596, Accra, Ghana. Tel: (233) 302 680068 / 680066 / 680079 Telex: 2675 ACCEPT GH Fax: (233) 302 680081 / 680083 Website: www.calbank.net Email: [email protected]
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I A N D F D O I R T M I A O T N I A O L N 3
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-29 Corporate Profile 2015 NOTES
I A N D F D O I R T M I A O T N I A O L N 3
1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-20-21-22-23-24-25-26-27-28-29 Corporate Profile 2015