New shareholder of CAL Bank to continue growth agenda

The Board and Management of CAL Bank have assured that an acquisition of 27.7 percent stake in the bank by Arise Investment will further grow the company to entrench its position as one of the leading banks in Ghana.

Arise Investment, which is based in the Netherlands acquired the 27.7 percent shares of  DPI — a private equity  firm that had worked with the bank for  four years.

Speaking to citi business news, the Head of Investor Relations at CAL Bank Miss Dzifa Amegashie was optimistic the bank will continue to post growth in profit, asset, and returns on equity.

“The most important thing is that the new investor is fully approved by the board of CAL Bank and the new investor fully fits in with our plans for growing a leading bank in Ghana. We believe our growth in profit, assets and returns on equity will continue like we saw under the former investor,” she said.

An earlier publication stated that the acquisition of  the 27.7 percent  stake in CAL Bank by Arise will  boost the banking sector in the country.

It explained that Arise, a collaborative partnership between international companies, Norfund, FMO and Rabobank aims at building a strong and stable institutions that serve retail, Small and Medium Enterprises (SMEs), the rural sector, and clients who have not previously had access to financial services.