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Business News of Thursday, 3 August 2017


Cal Bank launches new brand image

Cal Bank launched a new brand image to stimulate financial technology and inclusion.

Apart from its new tagline and logo, the bank adds on to its portfolio a new campaign for environmental protection and alternative energy, a financial inclusion department, and a technologically based operation strategy.

Speaking to JoyBusiness at the launch, Managing Director of Cal Bank, Frank Adu, said, “We are actually setting up a department for financial inclusion, because we work with a lot of start-ups.”

He said, “We have changed our business module, we currently have 25% of our portfolio in retail, so we are gradually moving into that space.”

Mr Adu said the bank was looking at using technology as an enabler, and if possible even pioneer certain technology bases in the sector.

He said, “The bank will not fight the disruptive nature of technology.”

“The bank have to go with it, so Cal Bank is prepared to embrace it and in fact even originate the same,” Mr. Adu said.

Deputy Governor of the Bank of Ghana, Dr. Johnson Asiamah, stressed on the importance of strengthening risk management measures in the banking sector.

He said, “while the central bank welcomes this positive trend in terms of the banking industry’s reliance and technology, banks need to consider the potential operational and systemic risk factors associated with such emerging trends.”

Dr. Asiamah said banks must strengthen their risk management systems, and establish robust technological and information control and security measures to ensure confidentiality, and integrity of financial transactions.

This he said, will limit operational risks and build confidence in such electronic banking services.

The new brand image is to strategically grow revenue, advance retail and digital banking.

The new tagline – “Forward Together” is to show commitment to partner clients and carry them forward to greater heights.