Highlights of CAL Bank Q3 – 2017 Earnings

Profit & Loss


  • Net Interest Income grew by 19.5% from GHS 217.3m to GHS259.7m y/o/y.
  • Non-Funded income grew 4.2% from GHS 79.5m to GHS 822.9m y/o/y.
  • Cost/Income Ratio decreased to 39.9% from 42.1% in Q3 2016.
  • Operating Income increased by 15.4% to GHS 342.6m (GHS 296.9m in Q3 2016)
  • Net impairment Loss increased by 46.1% to GHS 49.1m from GHS 33.6m in Q3 2016
  • Operating Expense grew by 9.6% to GHS 136.8m (GHS 124.9m in Q3 2016)
  • Profit before income tax increased by 13.2% to GHS 156.7m (GHS 138.4m in Q3 2016)
  • Profit after Income tax increased by 25% to GHS 113.6m (GHS 90.9m in 2016)

Balance Sheet

  • Total Assets increased by 19.2% to GHS 3.9b (GHS 3.3b in Q3 2016)
  • Loans & Advances decreased by 8.4% to GHS 1.8bn (GHS 2.0b at Q3 2016)
  • Total Current deposits increased by 18.6% to GHS 2.3b (GHS 1.9b in Q3 2016).
  • Borrowings increased by 11.6% to GHS 669.2m (GHS 599.6m in Q3 2016)
  • Capital Adequacy ratio increased to 22.3% (21.1% in Q3 2016)
  • NPL ration increased to 12.6% (8.4% in Q3 2016)

Shareholders Ratios

  • ROAA increased to 4.2% (3.9% in Q3 2016)
  • ROAE increased to 25.4% (23.5% in Q3 2016)
  • Price-to-Book ratio increased to 0.9x (0.77x in Q3 2016)
  • EPS grew by 25% to GHS 0.2073 (GHS 0.1658 in Q3 2016)
Courtesy: CAL bank

Bottom Line:

CAL Bank is doing great and has great potentials due to the Energy sector bond which is expected to reduce the non performing loans and boost returns in the final quarter. This is expected to affect the price barring any unforeseen circumstances. However we all know that, historically, CAL bank is not rewarded on the exchange despite their great performance.

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