CalBank has successfully raised GH¢1.164 billion through its Rights Issue and Private Placement, exceeding its target of GH¢900 million. The offer attracted 1,799 shareholders at GH¢0.29 per share, demonstrating strong investor confidence in the bank's vision and growth strategy.
The bank's Private Placement also drew more than GH¢500 million in committed capital that it could not take up. CalBank described the oversubscription as a powerful show of confidence in its brand, governance, and growth strategy.
The fresh capital will be used to rebuild capital buffers, strengthen the balance sheet, and support bigger transaction sizes. It will also help maintain a strong capital adequacy ratio, fund priority pipeline transactions, expand operations in strategic locations, and enhance technology platforms.
Speaking on the development, Board Chairman Daniel Sackey thanked shareholders and regulators for their support. "The support is a clear and undeniable endorsement of the trust investors continue to place in CalBank – our vision, our potential and the strategic role we occupy within Ghana’s financial ecosystem," he said.
Sackey added that the board remains committed to strong execution anchored on sound governance and prudent risk management.
Managing Director Carl Asem said the bank is entering "a new era – one defined by resilience, momentum, and disciplined growth." He said CalBank has spent the last two years quietly rebuilding its balance sheet to reflect its long-term goals.
The new capital is the final push needed to activate a renewed strategy built on innovation and customer focus," Asem said. "We are now positioned to pursue growth with determination and responsibility."
CalBank extended its appreciation to all shareholders, regulators, and partners for their continued support.
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