The Managing Director of CAL Bank is lamenting on the slow pace at which the bank�s share price has been appreciating on the Ghana Stock Exchange.
Frank Adu Junior said that the current share price of 74 pesewas per share does not reflect its recent performance and fundamentals of the bank.
In his estimation, the share price of CAL should be trading at two Ghana Cedis per share.
Mr Junior answered a question when his company took its turn at the Ghana Stock Exchange organised� Facts behind Figures� programme.
The MD said �the strategy of going forward will be hinged on product, people, processes and profitability�.
�We are trying to get retail deposits, because they are flexible and sustainable. We have had some success, but it�s a slow process�,
CAL posted 159 percent profit in the first quarter of this year
Meanwhile, Managing Director of the Ghana Stock Exchange has said that the exchange is very relevant in growing businesses.
Citing an example of CAL Bank raising 75 million Ghana cedis from overseas to boost its capital to 100 million Ghana cedis last year, Kofi Yamoah said the investor�s confidence in the stock market is undoubted.
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