CalBank has completed its Rights Issue and Private Placement
CalBank Plc has raised GH¢1.16 billion to exceed its approved target of GH¢900 million by 24.4 percent, as it has successfully completed its renounceable rights issue and private placement.
A total of 1,799 shareholders subscribed to the offer, marking one of the strongest investor responses the bank has recorded in recent years.
The offer opened on November 3, 2025, and closed on November 21, 2025, for GH¢0.29 per share.
Shares were offered at GH¢0.29 per share on a ratio of one new share for every 0.3643 existing shares held.
According to the Board Chairman of the Bank, this is as a result of investor’s appetite in the bank’s operations.
He emphasised that the confidence reflects a shared belief in CalBank’s resilience and its ability to deliver sustainable value.
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He also stressed the board’s commitment to disciplined execution grounded in sound governance and prudent risk management.
Managing Director Carl Asem characterised the capital injection as the final catalyst needed to activate the bank’s renewed strategy anchored on innovation, customer centricity, and operational excellence.
Asem noted that the bank is ready to pursue growth with discipline, and said the energy within the institution is strong and purposeful.
The successful capital raise caps a remarkable turnaround for CalBank.
The lender posted a profit before tax of GH¢414.2 million for full year 2024, reversing a loss of GH¢946.2 million recorded in 2023.
The recovery came despite lingering impairments linked to Ghana’s Eurobond restructuring program.
CalBank’s share price has appreciated substantially in 2025. The stock climbed 129 percent year to date to GH¢0.80 as of March 2025, making it the second best performing stock on the Ghana Stock Exchange (GSE) and pushing market capitalization to GH¢865 million.
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