Cal Bank on Wednesday outlined robust measures which includes injection of fresh capital or capitalisation of income surplus to meet Bank of Ghana (BOG) new Minimum Capital Requirement of GH¢400 million in stated capital by December 2018.

The Bank said it would transfer balance of GH¢50 million from income surplus to stated capital to meet the requirement, and that in June 2018; the bank had transferred GH¢250 million from income surplus to increase stated capital from GHC100 million to GH¢350 million.

Mr Philip Owiredu, the Executive Director of Cal Bank, said this at the 'Facts Behind Figures' forum organised by the Ghana Stock Exchange (GSE) in Accra.

The 'Facts Behind Figures' forum provides opportunity for the investing public, financial media, market operators, and individual/institutional holders to get information on the performance of banks and institutions listed on the Ghana Stock Exchange.

Mr Owiredu said in May 2018, the bank shareholders approved GH¢250 million capital transfer at its Annual General Meeting and in November 2017, its proposal to transfer GH¢300 million to stated capital to BoG for no-objection as required.

Touching on earnings and profitability of the Bank, the Executive Director said the Bank’s interest income which contributed 88.2 per cent to gross earnings, was driven by 22.8 per cent increase in Net Loans and 83.5 per cent growth in investment securities.

He said the non-interest income decreased by 10.8 per cent on the back of thin margins on forex activity and reduced trade volumes, adding that operating income and profit before tax grew by 9.2 per cent and 2.5 per cent year-on-year respectively.

On management efficiency, Mr Owiredu said net interest margin decreased to 10.6 per cent arising out of decreases in asset yield and cost of funds dropped to 8.2 per cent as a result of downward repricing of local currency liabilities.

He said cost-to-income ratio increased to 44.5 per cent despite containment of operating expenses.

Madam Dzifa Amegashie, the Head of Investor Relations at CAL Bank, said the Bank’s customer deposits increased by 20 per cent to GH¢2.7 billion in the third quarter of 2018 and was able to maintain a healthy capital adequacy.

She said the bank would employ cutting-edge technology to deliver enhanced tailor-made solutions for their corporate customers, enhance forex generating capacity and implement a comprehensive performance management and reward system to meet customers' needs.

Madam Amegashie said their outfit has leverage on growing card schemes to offer diversified card services for enhanced customer experience, positive impacting on customer base and translating into increased deposits.

Dealing with measures to curb cyber fraud, she said the Bank had an information security department that handles cyber security issues and as well put in place robust governance system to prevent any untoward fraud.