CALBank is addressing legacy challenges, strengthening risk management, and reporting profits
CALBank has refuted claims that its Executive Directors and Board Members were dismissed due to impairment issues, clarifying that the changes are part of the bank's ongoing restructuring and transformation.
The departure of three independent Non-Executive Directors—Ben Barth, Dr. Cynthia Forson, and Richard Arkutu—was due to the expiration of their terms at the 2024 AGM.
The bank also cited a pending minority shareholder injunction, delaying the reappointment of directors.
CALBank is addressing legacy challenges, strengthening risk management, and reporting profits in 2024, with expectations of sustained growth under improved governance. An Extraordinary General Meeting (EGM) will restore the full Board.
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