CAL Bank ended the year 2020 with liabilities worth Ghs 6.7 billion.
Total liabilities recorded for end-2020 represents an increase of Ghs 700 million when compared to the 2019 figure of Ghs 6 billion.
A perusal of the bank’s 2020 Financial Statement by norvanreports, revealed that, deposits from banks and other financial institutions as well as deposits from customers, mainly accounted for the more than Ghs 700 million increase in the bank’s liabilities.
Deposits from banks and other institutions increased from Ghs 172 million in 2019 to Ghs 263 million in 2020.
Deposits made by customers of the bank increased from Ghs 3.6 billion in 2019 to 4.1 billion in 2020.
The increase in the bank’s liabilities was however, neutralized by close to a Ghs 900 million increase in its total assets value.
Total assets value recorded end-2020 amounted to Ghs 7.9 billion from the 2019 figure of Ghs 7.03 billion.
Increment in the bank’s assets is mainly attributed to an increase in its cash and cash equivalents and non-pledged trading assets.
Cash and cash equivalents increased from Ghs 854 million in 2019 to Ghs 1.2 billion in 2020, with non-pledged trading assets increasing from Ghs 125 million in 2019 to Ghs 834 million in 2020.
CAL Bank, with respect to profit, also recorded an increase of Ghs 32 million as it ended the year 2020 with a net profit of Ghs 206 million from Ghs 174 million recorded in the year 2019.
The recorded increase in CAL Bank’s profit for last year, resulted in a corresponding increase in dividends declared for the year under review.
Dividends payable by CAL Bank to its shareholders for 2020 according to its financial statement, is Ghs 0.33 pesewas, representing an increase of Ghs 0.06 pesewas from the 2019 dividends of Ghs 0.27 pesewas.
But CAL Bank would have to hold on to payments of dividends for now following the Bank of Ghana’s directive disallowing banks in the country to pay dividends for last year and this year.
In terms of loan asset quality, CAL bank saw its loan asset quality slightly deteriorate as its Non-Performing Loans (NPLs) increased from 9.9 percent in 2019 to 13.5 percent end-2020.
The increase in NPLs is despite a reduction in loans made by the bank last year. Loans made by the bank reduced by more than Ghs 500 million from Ghs 2.9 billion in 2019 to Ghs 2.4 billion in 2020.
