By Sheila WILLIAMS
The Governor of the Central Bank of Ghana Dr. Ernest Addison, said the banking system growth in Ghana for the first quarter of 2019 strong after-tax income of GHc825. 96 million as compared with Ghc601. 76 million for the corresponding period of 2018. This he said represents an annual growth of 37 percent.
Speaking at the Official Opening of the New Head Office building of CalBank Limited in Accra,the Governor noted that, the banking system in Ghana is becoming stronger by the day, as the core Financial Soundness Indicators (FSIs) significantly improved in the first quarter of 2019,reflecting gains from the comprehensive set of reforms introduced by the Bank of Ghana in 2017 and 2018.
The Governor indicated the solvency position of the sector improved on the back of recapitalization of the banking sector and orderly resolution of distressed institutions. The capital adequacy ratio of the banking sector, which deteriorated into the worst category by June 2017 with significant improvement to 20 percent in March 2019.
“This commissioning signals what a local indigenous bank can achieve with commitment and hard work by its dedicated workforce and CalBank remains one of the domestically controlled flagship banks with strong performance in assets growth and profitability. “ Mr. Addison added.
The Governor of the Central Bank of Ghana, Dr. Ernest Addison congratulated the Board, Management and staff of CalBank Limited on the opening of their new Head office building, and encouraged the management and staff to continue to maintain high standards of integrity, particularly in the area of its corporate governance to maintain public confidence in CalBank.
