CalBank PLC, a leading Ghanaian lender backed by serial investor Daniel Ofori, delivered a strong financial performance in the first nine months of 2026, with profit rising to GHS337.18 million ($20.94 million), marking a 50.61% increase from GHS223.88 million ($19.24 million) in the same period last year.

The bank’s performance was driven by robust growth across its core income lines, with total revenue climbing sharply by 86.12% from GHS538.17 million ($46.26 million) to GHS1 billion ($86.05 million) while operating income rose 77.7% to GHS1 billion ($86.26 million) from GHS564.81 million ($48.55 million). Stronger net interest income, higher trading revenue, and lower impairment gains supported the improvement compared with 2025.

This growth reflects improved operating efficiency, stronger lending activity, and diversification across multiple revenue streams.

CalBank strengthens core banking income

CalBank’s net interest income increased 66.3% to GHS517.1 million ($44.44 million), compared with GHS311million ($26.74 million) in the first nine months of 2025. Interest income rose to GHS667.77 million ($57.39 million) from GHS597.51 million ($51.36 million), while interest expense fell to GHS150.67 million ($12.95 million) from GHS286.52 million ($24.63 million), reflecting a substantial reduction in funding costs.

Net fees and commission income also strengthened, increasing 67.5% to GHS230.21 million ($19.79 million) from GHS137.37 million ($11.81 million). Net trading income surged 183% to GHS254.36 million ($21.87 million), up from GHS89.81 million ($7.72 million), reinforcing the contribution of non-interest income to the bank’s performance.

Other income, however, declined to GHS1.75 million ($150,114) from GHS26.65 million ($2.29 million). Net impairment gains on financial instruments also fell sharply to GHS3.49 million ($300,037), compared with GHS188.06 million ($16.17 million) a year earlier, indicating that the improvement in profit came despite a much smaller contribution from impairment gains.

Profit growth and operating expenses

CalBank’s group profit before tax increased 41% to GHS499.53 million ($42.94 million), up from GHS354.36 million ($30.46 million) in the corresponding period of 2025. Profit for the period rose to GHS337.18 million ($28.98 million) from GHS223.88 million ($19.24 million), while income tax expense increased to GHS162.35 million ($13.96 million) from GHS130.48 million ($11.22 million).

Total operating expenses rose 27.3% to GHS507.37 million ($43.61 million), compared with GHS398.52 million ($34.25 million) a year earlier. Personnel expenses increased to GHS275.57 million ($23.69 million) from GHS200.32 million ($17.22 million), while other expenses climbed to GHS181.49 million ($15.6 million) from GHS152.51 million ($13.11 million).

Despite higher expenses, operating income growth outpaced the increase in costs, supporting the rise in profit before tax.

Balance sheet expands as deposits rise

CalBank’s group total assets increased 34% to GHS14.6 billion ($1.25 billion) as of September 30, 2026, from GHS10.89 billion ($936.44 million) a year earlier. Customer deposits rose 24.5% to GHS10.63 billion ($913.88 million), compared with GHS58.54 billion ($734.36 million) in September 2025.

Loans and advances to customers increased to GHS2.05 billion ($176.57 million) from GHS1.28 billion ($109.74 million), while investment securities rose to GHS6.94 billion ($596.55 million) from GHS5.19 billion ($446.19 million). Cash and cash equivalents also grew to GHS3.2 billion ($275.07 million) from GHS2.22 billion ($190.65 million).

Total shareholders’ equity increased to GHS1.92 billion ($164.99 million) up from GHS496.44 million ($42.67 million) a year earlier. The group’s capital adequacy ratio stood at 18.4%, compared with negative 1.6% in 2025, while its non-performing loan ratio improved to 8.5% from 26.5%. The liquidity ratio also strengthened to 83.9% from 73.9%.

CalBank’s nine-month results reflect higher core banking income, a stronger balance sheet and improved reported asset-quality indicators, positioning the lender for continued recovery and growth.