CAL Bank commenced operations as a local merchant bank in 1990 with the sole aim of providing a truly differentiated world class banking solution. The Bank was formerly Continental Acceptances Limited and then CAL Merchant Bank Limited.
The Bank’s founding shareholders in 1990 were Inter-national Finance Corporation (IFC), Commonwealth Development Corporation (CDC), African Growth Fund, Pryor McClendon Counts and Com-pany Inc. and Vanguard Assurance Limited.
In 2004 CAL Bank undertook a GHS 5.4 million initial public Offer (IPO) that was 4.5 times oversubscribed. In 2009 the Bank undertook a succesful rights issue to attain GHS 25 million in stated capital.
In 2012 CAL Bank further increased its stated capital to GHS 100 million through a private placement which was 2.5 times oversubscribed.