CAL Bank grows assets base by GHS 2.8bn YoY
CAL Bank for the period between Q1 2021 and Q1 2022, grew its assets value base by more than GHS 2.8bn.
Per the bank’s 2022 first quarter financial results, total assets value had swelled to some GHS 10.6bn in Q1 2022 from the GHS 7.8bn assets value base recorded in Q1 2021.
A perusal of the bank’s first quarter financial results by norvanreports revealed that the rise in the bank’s assets value base was mainly on the account of increments in its investment securities holdings.
For the period under review, the bank’s investment securities increased to GHS 4.7bn from the previous year’s GHS 2.5bn.
An indication that, CAL Bank for the period under review, purchased a lot of government securities particularly the short-term dated securities which include the 91, 182 and 364 days T-Bills.
Cash and cash equivalents as well as loans and advances to customers marginally added to the rise witnessed in the bank’s assets value base.
The two aforementioned elements amounted to GHS 1.5bn and GHS 2.7bn from GHS 1.3bn and GHS 2.2bn in Q1 2022 and Q1 2021 respectively.
Ending the first quarter with total liabilities of GHS 9.3bn, CAL Bank’s liabilities driven mainly by deposits from customers grew by over GHS 2.6bn from the GHS 6.7bn total liabilities recorded in the first quarter of 2021.
Total deposits made by both customers and other banks amounted to GHS 5.9bn in Q1 2022.
Also accounting for the GHS 9.3bn liabilities posted in Q1 2022, was the GHS 3.1bn borrowings/ loans taken by the bank itself.
For the first quarter, net profit made by the bank was GHS 60.2m, an increase of GHS 8.1m from the GHS 52.1m net profit posted in Q1 2021.
Based on the GHS 60.2m net profit recorded for Q1 2022, earnings per share for shareholders of the bank is pegged at 38 pesewas.
Regarding Capital Adequacy Ratio (CAR), CAL Bank’s CAR (22.4%) is fairly above the Bank of Ghana’s 13% minimum CAR requirement.
Its non-performing loans also pegged at 9.2% is fairly below the banking industry’s average of 14.4%.
Examine below details of CAL Bank’s Q1 2022 financial statement:
pdf (16) by Fuaad Dodoo on Scribd
