CAL Bank launches retail promotion

CAL Bank, the 8th largest bank in Ghana currently in terms of total assets, yesterday launched its ‘Deposit & Win’ promotion to woo new customers into its fold.

Participants of the promotion are required to open an account with GH¢300.00 or deposit that much into an account that will yield e-tickets in the form of an SMS with a unique code.

Kofi Siabi, Head of Marketing at CAL Bank, who explained the promotion to journalists during the launch in Accra said, “For every GH¢300.00 maintained in a customer’s account for 30 days, they automatically qualify to win prizes at stake in 2 mini draws.”

There will be two mini draws in each set of promotions where customers will be rewarded with LED TVs, home theatre sets, Samsung Galaxy S4s, Barbecue grills, microwaves, Blackberry Z10s and several CAL Bank souvenirs.

Customers or new ones could grow their deposits and build it up to GH¢1,500.00 before the end of the promotion period and qualify them into the draw. The higher the number of e-tickets, the higher the chances of winning, Mr Siabi remarked, adding that there will be one grand draw at the end of the promotion where one lucky customer will win the 2-bedroom house expandable into three at Devtraco Estates.

Another lucky customer will take home holiday destination tickets abroad for two with spending money.

Following its sterling performance at the end of 2012 and an equally good performance in the first quarter of 2013, CAL Bank’s net interest income went up by 152 percent to GH¢32 million compared to the previous year.

Philip Owiredu, Deputy Managing Director of CAL Bank, who noted this in a remark, said the bank’s total operating income shot up by 121 percent to GH¢50 million culminating in a profit-after-tax of GH¢21 million.

This was an increase of 160 percent year-on-year while total assets increased by 51 percent to GH¢1.3 billion compared to the previous year’s figure.