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Cal Bank returns to significant growth in profit for 2024; PBT hits GHC414.2m

CalBank achieved significant profit growth in 2024, with a Profit Before Tax (PBT) of GHC414.2 million, marking a strong recovery from a loss in 2023. This growth was driven by a 29% increase in deposits to GHC9.6 billion, robust fee income, and strategic cost management. The bank emphasized retail expansion, digital transformation, and risk management. Looking ahead, CalBank plans to focus on its five-year strategy, including retail expansion, deposit growth, and loan portfolio optimization. Managing Director Carl Asem highlighted the turnaround as a testament to the bank's strategic execution and commitment to growth.
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