Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

CAL of Ghana Rises Most in a Month on Profit Bets: Accra Mover

June 11 (Bloomberg) -- CAL Bank Ltd., a lender in the West African nation, rose to the highest level in almost a month as investors bet profit doubled in the first half.

The stock gained 4.6 percent to 23 pesewas as of 2:32 p.m. in Accra, the capital, the biggest increase since May 16.

“Our expectation for the bank’s profit is a growth of at least 100 percent in the first half,” Nana Kofi Agyeman Gyamfi, a stock trader at Merbank Stockbrokers Ltd. in Accra, said by phone today. “Earnings from fees and commissions as well as from forex trading will significantly support CAL’s profitability in the first half.”

CAL Bank’s first-half results are due by the second week in July, Gyamfi said. The bank’s first-quarter net income more than doubled to 8.2 million cedis ($4.2 million) from 3.1 million cedis a year earlier, the company said April 24. Net fees and commissions increased 36 percent to 4.3 million cedis while net trading income more than doubled to 4.3 million cedis.

The bank’s head of investor relations, Dzifa Amegashie, did not respond to a telephone call to her office and mobile phone today.

To contact the reporter on this story: Moses Mozart Dzawu in Accra at mdzawu@bloomberg.net

To contact the editor responsible for this story: Emily Bowers at ebowers1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.