The new logo is made up of two petals representing the letters ‘C’ and ‘B’ and made up of two key colours, yellow and orange, and this, according to Frank Adu, Managing Director, has been designed to effectively communicate the new direction of the bank and its values.
In addition to the new logo, CalBank has reviewed its core values to being Responsible, Efficient and Decisive, known as CalBank Red; and has introduced a new tagline, ‘Forward Together’, which states its commitment to partner clients and move them forward.
The bank has also added a new campaign for environmental protection and alternative energy, a financial inclusion department, and a technologically based operation strategy.
Managing Director of the bank, Frank Adu, stated the new identity shows the bank is committed to continually investing in the brand and build a truly differentiated positioning with an enhanced brand value; improved brand architecture; and a stronger and competitive image.
“The power of our brand is what sustains the business and as such was important to build on the strengths of the current CalBank brand and move it forward, creating a stronger, vibrant and more meaningful brand for our current and future clients, across different customer segments.
The journey of building a bank that you will be passionate about requires that we continue to invest in the soul and fabric of the CalBank brand. We are excited about where we are headed.
Our belief is that the next building blocks of the CalBank brand will deliver more sustained value for you,” he told shareholders, customers, investors, staff, regulators and other stakeholders at a beautiful launch ceremony at the Movenpick Hotel, Accra.
Mr. Adu added that the strategy going forward is to continuously grow revenues, deepen the bank’s presence in corporate banking, become a leader in retail banking, introduce Agency banking and be a major player in the digital banking and payment space.
He added that a number of new initiatives will be introduced to enhance clients’ banking experience. “We have enhanced our banking IT software to a higher platform integrating more improved solutions that deliver a simpler and exciting experience. This software now sits on an equally improved hardware and database.
Our banking app has also been enhanced with a friendlier interface that gives you the peace of mind you desire because you are in touch with and control your banking,” he added.
Dr. Johnson Asiama, Deputy Governor of the Central Bank, lauded CalBank for its growth and impact in the industry over the years.
“Starting off as a merchant bank under the name Continental Acceptance Limited, CalBank has transformed into a publicly listed universal bank with over 25 fully networked branches and offers a wide variety of financial products and services,” he said.
According to the Deputy Governor, CalBank has made substantial progress in the banking landscape by increasing its share of industry deposits from 1.7percent in June 2000 to 4.6percent in June, 2017.
Also, the bank’s share of industry assets moved up from 1.9percent to 4.6percent between the same periods and in terms of asset size, CalBank, according to the Dr. Asiama, is currently ranked 9th in the industry with total assets increasing from GH¢23.5million in 2000 to GH¢3.5billion in May, 2017.
In the same period, the bank’s capital adequacy also increased from 11.4percent to 19.8percent and remains above the industry benchmark of 10percent.
“These financials indicators are reflective of a burgeoning bank that is ready to scale up its activities within the industry, hence the new branding. The Bank of Ghana is pleased to be associated with CalBank’s achievements over the years and I think there is no opportune time to rebrand than this, as we see gradual improvement in the macro environment,” he added.