Executive Director of CAL Bank; Mr. Philip Owiredu has credited the Central Bank for recoveries on its debt book after heeding the state regulator’s directives.
Mr. Owiredu stated the bank has seen growth in its loan book thanks to recoveries from last year adding it also also heeded the Bank of Ghana call for non-performing loans to be written off the books after a period.
He made the disclosures when he took his turn at the ‘Facts Behind the Figures’ series to brief stakeholders on the health of financial institutions.
The Executive Director stressed the bank saw a 7.4% recovery of its loans from 2017 thanks to the new guidelines its working with.
Founded in 1990, CAL Bank is rated as “one of the most innovative banks in Ghana“, according to its website.
Michael Eli Dokosi/goldstreetbusiness.com