CalBank PLC has successfully concluded its Renounceable Rights Issue and Private Placement, raising more than GH₵1.16 billion—significantly exceeding the approved target of GH₵900 million by 29.4%.
The oversubscription, reflecting robust participation from institutional and individual investors, underscores strong market confidence in the bank’s brand, leadership, and long-term growth strategy.
The Rights Issue and Private Placement, which opened on November 3, 2025, and closed on November 21, 2025, was priced at GH₵0.29 per share.
Shareholders were offered one new share for every 0.3643 existing shares held.
In total, 1,799 shareholders subscribed to the offer.
Beyond the Rights Issue, the Private Placement drew over GH₵500 million in committed capital, which the bank was unable to consummate due to high demand.
According to CalBank, the substantial oversubscription represents a strong affirmation of shareholders’ confidence in the bank’s governance and strategic direction.
The funds raised will strengthen the bank’s balance sheet, enhance its capital adequacy ratios, and provide the financial muscle to pursue strategic growth initiatives.
Specifically, the new capital will support larger transaction sizes, fund pipeline projects in priority economic sectors, expand CalBank’s operational footprint in strategic locations, and accelerate upgrades to its technology platforms.
The Board Chairman, Mr. Daniel Sackey, described the overwhelming response as 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 added that the board remains committed to disciplined execution, sound governance, and prudent risk management, emphasising that the bank will convert this renewed confidence into sustainable value for shareholders.
Speaking on behalf of management, CalBank’s Managing Director, Mr. Carl Asem, highlighted the significance of the capital raising for the bank’s future strategy.
“CalBank is entering a new era—one defined by resilience, momentum, and disciplined growth. Over the past two years, we have deliberately restructured our balance sheet to be stronger, more sustainable, and fully aligned with our long-term aspirations.
With the injection of new capital, we now have the catalyst to activate our renewed strategy—anchored on innovation, customer centricity, and operational excellence,” Mr. Asem stated.
He added that the bank is now well-positioned to pursue growth vigorously yet responsibly, acknowledging the contributions of staff, customers, regulators, and shareholders.
“The energy within CalBank is palpable—focused, determined, and inspired. As leadership, we affirm our commitment to delivering tangible, meaningful, and enduring value to all our stakeholders—and, above all, consistent and sustainable long-term returns for our shareholders,” Mr. Asem said.
CalBank noted that the timing of the capital injection is ideal, as it coincides with its strategic growth phase.
The bank reiterated its ambition to become Ghana’s leading indigenous bank in customer service and innovation, while ensuring competitive and sustainable returns for shareholders and contributing to broader economic development.
The successful completion of the Rights Issue and Private Placement not only reflects strong investor confidence but also strengthens CalBank’s position to pursue long-term growth, execute targeted investments, and maintain its competitive edge in Ghana’s financial sector.
