Managing Director of CalBank, Carl Selasi Asem, is urging greater support for indigenous banks as a means to strengthen the resilience of Ghana’s financial sector.

He made the call at the launch of CalBank’s “Red Week” and its 35th-anniversary celebrations, held at its headquarters in Accra on Monday July 7, 2025.

Speaking to Citi Business News on the sidelines of the event, Carl Selasi Asem stressed the need for stronger support for indigenous banks highlighting their importance to the growth of the economy.

He noted that indigenous banks have consistently shown commitment to the domestic economy, even in the face of industry-wide turbulence as witnessed recently.

“We always strongly believe that the indigenous banks in this country and everywhere have a greater role to play. Any country that relies on foreigners to be able to run its banking system put itself at a greater risk because there are things that in terms of support in terms of what can drive the economy it is only the indigenous banks which understands the way this country operates and how they can be relevant and provide the support.

“We strongly believe that all stakeholders continue to support indigenous banks so that they will be able to play a major role in the economy of the country, because when everything comes down, it is the indigenous banks that don’t leave. They stay throughout and be able to make sure that the country’s economy gets back to shape,” Carl Selasi Asem said.

The Managing Director of Calbank further stated that the bank is strategically positioning itself to become a formidable force in Ghana’s financial sector.

“We are on track. When you look at our numbers for half a year, we strongly believe that whatever we set for ourselves at the beginning of the year, we will achieve it and we strongly believe that this bank has been very resilient and bounced back to be one of the major force in the country in the coming years,” Carl Selasi Asem added.

He also highlighted the bank’s “Red Week” celebration, describing it as a reflection of the values that have driven CalBank’s growth over the years.

The initiative forms part of activities marking the bank’s 35th anniversary. “Red” is an acronym representing the bank’s guiding principles: Responsible, Effective, and Decisive.

“We came out with this acronym of being responsible, which stands for the “R”. How responsible are we to all our stakeholders, our customers, both external and internal customers-and also our regulators, our shareholders and even our own employees…how responsible are we for each of them?

“It is also important that we needed to be effective to be able to meet our objectives. That effectiveness is what has propelled us to be able to make sure that in reflecting on those values, our day-to-day job that we do is how effective we can be. The last is being decisive. With us, it is how quickly can we respond to our customers. How quickly we can make a decision to say yes or no is what makes a huge difference in this bank?” Carl Selasi Asem said.

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