CAL Bank Ghana Limited has attributed its 14.6 per cent growth in deposits between 2014 and 2015 to an aggressive branch expansion and a deliberate mobilisation effort during the period.
The bank's customer deposits rose from GH¢1.34 million in 2014 to GH¢1.54 million last year, which its Managing Director, Mr Frank Adu Jr, said was due to some network expansions.
Last year, the bank added some three branches to its network, the. Bringing to 32, the number of office locations it had nationwide.
Within the period, the bank's automated teller machines (ATMs) also rose to 92 while its point-of-sale terminals were also deplored into the market.
All these helped in mobilising deposits from customers, Mr Adu Jr said at this year's annual general meeting in Accra.
"Customer deposits increased by 14.6 per cent die to gains from our expanded branch network and deliver we mobilisation efforts during the period," he said.
The increment in deposits combined with other positive indices to push the bank's total assets from GH¢3.35 billion.
CAL Bank's assets closed 2014 at GH¢2.71 billion but rose by 23.8 per candy to the 2015 figure.
Loans and overdrafts up
The bank's 2015 financial results further showed that loans and advances rose by 34.5 per cent to GH¢1.8 million while investments in securities remained flat at GH¢2.03 million.
The bank declared a dividend of GH¢0.097 per share, bringing to GH¢53.18 million the total amount it will pay out to shareholders within the financial year.
The amount represented 33 per cent of bank's net profit, which rose to GH¢160 million.