Ernest Addison: The improved resilience of Ghana's banking industry

Speech by Dr Ernest Addison, Governor of the Bank of Ghana, at the official opening of the new Head Office Building of Calbank Ltd, Accra, 22 May 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
23 May 2019

Good Morning,

1. It gives me great pleasure to be here today for the official launching of this new state-of-the-art head office for CalBank Limited, and for the opportunity to make a few remarks on this occasion.

2. I am delighted because this commissioning signals what a local indigenous bank can achieve with commitment and hard work by its dedicated workforce. I have no doubt in my mind that this office space has a cutting edge technology that incorporates accessibility, safety and functionality for both staff and customers.

3. Mr. Chairman, the overall contribution of CalBank Ltd to the banking industry in Ghana is not in doubt. It remains one of the domestically controlled flagship banks with strong performance in asset growth and profitability. Starting off as a merchant bank in the 1990's and transitioning to a universal bank in 2004, Calbank has exhibited strong growth over the years with an increasing number of branches and several ATMs across the country.