CAL BANK LIMITED FIRST QUARTER 2015 FACTS BEHIND

CAL BANK LIMITED FIRST QUARTER 2015 “FACTS BEHIND THE FIGURES” Investor & Analyst Presentation

Disclaimer This report was prepared by CAL to provide background information on the Group. The report is issued for information purposes only, especially with regards to enabling users understand the inherent potential of the business. It is therefore not a solicitation to buy or sell the stock. The information contained herein is subject to change and neither the bank nor its staff is under any obligation to notify you or make public any announcement with respect to such change. Users are hereby advised to exercise caution in attempting to rely on this information and carry out further research before reaching conclusions regarding their investment decisions.

Speakers Mr. Frank Adu Managing Director Mr. Philip Owiredu Executive Director Mr. Charles Amoah Assistant General Manager Mr. Joseph Ofori-Teiko General Manager Ms. Dzifa Amegashie Investor Relations

Outline > Operating Environment > Banking Sector Overview > Company Overview > FY 2014 Financial Highlights > Q 1 2015 Performance > Share Price Performance > 2015 Strategy and Outlook

OPERATING ENVIRONMENT: GHANA 5

Ghana Macro Overview - Q 1 2015 Rising Inflation (%) Depreciating Cedi To be updated till March 2015: 16. 6% Strained Fiscal Position (%) T-Bill Rates March 2014 March 2015 91 -day 23. 7% 25. 1% 182 -day 21. 2% 25. 8% 1 -year 22. 5% 2 -year 23. 0% 5 -year - 21. 0%

BANKING SECTOR OVERVIEW 7

Ghana Banking Sector Indices - Q 1 2015 The banking sector currently has 28 banks: 14 foreign, 3 government and 11 local banks KEY METRICS POLICY RATE¹ MARCH 2014 MARCH 2015 PERCENT 18. 0 21. 0 DEPOSITS ΔY/Y MARCH 2014 MARCH 2015 PERCENT GHS Billion 16. 7 26. 0 TOTAL INDUSTRY ASSETS MARCH 2014 MARCH 2015 GHS Billion 40. 0 55. 1 MARCH 2015 PERCENT 12. 4 1. 2. 12. 1 30. 8 GHS Billion LOANS AND ADVANCES² ΔY/Y DEC 2014 GHS Billion 37. 8 17. 0 INDUSTRY NPL RATIO MARCH 2014 34. 0 ΔY/Y 24. 1 ΔY/Y 41. 5 GHS Billion INDUSTRY CAR ΔY/Y MARCH 2014 MARCH 2015 PERCENT -2. 4 The MPC increased the policy rate to 22% at its last committee meeting ending Wednesday, May 13, 2015 FY 2014 Numbers 17. 9 18. 5 ΔY/Y 3. 4 PERCENT

CAL BANK “AT A GLANCE” 9

CAL Bank “At a Glance” - Q 1 2015 Shareholding Structure CAL Bank Limited is an indigenous bank established in Ghana in 1990, listed on the Ghana Stock Exchange SUBSIDIARIES EMPLOYEES WHOLLY OWNED PROFESSIONAL STAFF 3 752 Channels 22 85 15 Branches ATMs Corr. Banks Market Information¹ ISSUED SHARES MARKET VALUE PUBLIC FLOAT 548. 26 553. 74 36. 74 MILLION 1. As at 31/03/2015 MILLION CEDIS PERCENT Partners

CAL BANK Q 1 -2015 PERFORMANCE 11

CAL - Amongst Top 10 Banks in 2014 Market share FY 2014 Share of Industry PAT 15. 13% 13. 20% 10. 18% EBG GCB SCB 8. 69% 7. 27% BBG 6. 86% SBG CAL 6. 71% ZBL 5. 54% 4. 16% 4. 04% 3. 88% ABL FBL NIB UBA 2. 65% HFC FY 2014 Share of Industry loans FY 2014 Share of Industry Total Assets 14. 00% 14. 0% 12. 0% 10. 00% 10. 0% 8. 0% 6. 25% 6. 00% 5. 52% 4. 00% 4. 0% 2. 0% Source: Company Financials H L EG ZB SO G B AD G BB B UT UBA B UBL GC ADB B NIB SC CAL L BBG L FBL UB ZBL CA SCB L SBG FB GCB SB G EB G 0. 00% 0. 0%

CAL ranks Top 10 in Banks in 2014 KPIs FY 2014 Ro. E FY 2014 Ro. A 8. 0% 50. 0% 45. 0% 40. 0% 35. 0% 30. 0% 25. 0% 20. 0% 15. 0% 10. 0% 5. 0% 0. 0% 7. 0% 35. 8% 6. 0% 5. 18% 5. 0% 4. 0% 3. 0% 2. 0% 0. 0% HF C SO GE GH BO A L AB G SB L CA BB G ZB L B SC G EB B GC UB A 1. 0% BOB GCB BBG SCB EBG UBA CAL ABL ZBL HFC SBG FY 2014 Cost-to-income ratio 57. 80% 41. 85% 42. 14% 42. 38% SCB ZBL BBG 44. 49% 46. 64% 47. 07% EBG SBG 49. 87% 52. 82% 34. 70% 28. 01% 13. 66% BOB UBA CAL ABL NIB GCB HFC NIB

Q 1 -2015 - Income Statement Key Items (GHS ‘ 000) Change FY 2014 FY 2013 Change 56, 171 40, 107 40. 1% 184. 084 143, 743 28. 1% Net Fees & Commissions 17, 084 8, 487 101. 3% 51, 902 29, 766 74. 4% Net Trading Income 17, 275 15, 666 10. 3% 76, 337 31, 153 145. 0% Other Income 4, 075 3, 555 14. 6% 12, 619 14, 492 -12. 9% Total Income 94, 606 67, 814 39. 5% 324, 942 219, 153 48. 3% Credit Loss Expenses (5, 228) (5, 141) 1. 7% (20, 478) (17, 516) 16. 9% Total Operating Expenses (31, 493) (21, 096) 49. 3% (106, 067) (74, 072) -43. 2% Profit before tax 57, 941 41, 577 39. 4% 198, 533 127, 602 55. 6% Profit after tax Profitability Q 1 -2014 Net Interest Income 1 Q 1 2015 40, 519 29, 201 38. 8% 143, 151 93, 540 53. 0% § Net Interest Income growth of 40. 1% y/y attributable to a 70. 1% growth in interest-bearing assets § Net Fees & commissions up by 101. 3% from increased loan and L/C volumes. Key facts § Credit Loss Expense growth of just 1. 7% from more stringent loan monitoring methods resulting in lower defaults § Staff costs up by 58. 0% , forming 65. 0% of Total Operating Expenses in Q 1 -2015, in line with previous year Q 1 -2014 (62. 0%) § Operating Expenses up 49. 3%. Higher inflation , currency depreciation & increased fuel usage during power cuts contributed to higher operating costs § 39. 4% y/y growth in Profit before tax

Income Statement Evolution 2013 -2015 Non- Funded Income GHS 000’s Net Interest Income GHS 000’s 56, 171 60, 000 7, 000 45, 000 40, 435 40, 000 50, 000 40, 000 6, 000 35, 000 40, 107 25, 000 30, 000 5, 228 Q 1 2014 Q 1 2015 4, 359 4, 000 3, 000 15, 000 10, 000 5, 141 17, 195 20, 000 2, 000 5, 000 0 Q 1 2013 Q 1 2014 1, 000 0 Q 1 2015 Q 1 2013 Cost-to-income ratio % 9 33. 9 30 Q 1 2014 Q 1 2013 Q 1 2015 NPL ratio % 40 35 5, 000 27, 707 30, 000 32, 363 Credit Loss Expense GHS 000’s 33. 3 31. 1 16. 0% 8. 1 8 7. 0 7 6 25 Net-Interest Margin % 6. 1 10. 8% 10. 0% 8. 0% 4 15 12. 2% 12. 0% 5 20 14. 1% 14. 0% 6. 0% 3 10 2 4. 0% 5 1 2. 0% 0 0 Q 1 2013 Q 1 2014 Q 1 2015 0. 0% Q 1 2013 Q 1 2014 Q 1 2015

Asset Profile 2013 -2015 Interest earning assets dominate 120% 100% 1% 1% 23% 80% 2% 33% 43% 60% 40% 76% 66% 55% 20% 0% Q 1 2013 Q 1 2014 Loans and Advances Transport & Communication 3% Other Assets Sectoral Distribution of Loans Q 1 2014 Commerce& Finance 24% Other Interest Earning Assets Q 1 2015 Misc 5% Electricity , Water &Gas 9% Services 13% Government 16% Commerce and Finance, 18% Q 1 2015 Transport& communication, 2% Mining 4% Services, 12% Government, 10% Electricity, Water& Gas, 22% Construction, 23% Construction 25% Misc, 6% Manufacturing , 4% Mining , 3%

Capital & Returns 2013 -2015 Capital Adequacy Ratio - Ample Capital ROAA & ROAE 25. 00% ROAA ROAE 22. 01% 53. 70% 20. 00% 18. 70% 17. 20% 42. 90% 15. 00% 10. 00% 5. 00% 8. 00% 7. 60% 6. 70% 0. 00% Q 1 2013 Q 1 2014 Q 1 2015

Q 1 -2015 - Balance sheet Key Items (GHS ‘ 000) Q 1 2015 Q 1 -2014 Loans and Advances 1, 466, 761 1, 029, 595 Investments in Government Securities 895, 014 Q 4 -2014 Q 1. 15/Q 4. 14 Change 42. 5% 1, 337, 205 9. 7% 127. 7% 409, 217 118. 7% Y/Y Change 392, 997 Other Assets 143. 9% 890, 014 (25. 9)% 84, 625 51, 257 65. 1% 78, 918 10. 4% Total Assets 3, 107, 484 1, 744, 923 78. 1% 2, 715, 353 14. 4% Total Deposits 1, 406, 581 905, 473 55. 3% 1, 395, 841 0. 8% Borrowings 1, 174, 867 456, 310 157. 5% 827, 455 42. 0% 85, 822 67, 613 26. 5% 140, 216 (7. 6)% Shareholders' Funds 440, 514 315, 527 39. 6% 399, 531 10. 3% Liabilities and Shareholders’ Funds Balance Sheet 271, 074 Fixed Assets 2 661, 084 3, 107, 484 1, 744, 923 78. 1% 2, 715, 353 14. 4% Other Liabilities § Total Assets grew by 78. 1% y/y largely supported by a 42. 5% growth in Loans & Advances (mainly to the corporate sector) and investment in Government securities. § Fixed Assets growth of 65. 1 % mainly from revaluation of landed properties Key Facts § Total deposits increased by 55. 3 % y/y primarily from increased wholesale deposits and increase in branch network from 20 to 22. § Borrowings increased by 157. 5% y/y through securing additional facilities to support asset growth and to support increased volume of trade and financing activities.

CAL Share Price - Year to March 2015 Share Price (GHS) 1. 40 1. 20 1. 00 0. 80 0. 60 CAL stock appreciation (YTD): EPS: P/E : P/B : Dividend Yield : Market cap : 0. 40 8. 2% GHS 0. 2611(annualized) 3. 6 x 1. 4 x 7. 64% GHS 553. 74 Million (US 208 Million) 0. 20 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15

Pricing Evolution 2013 -2015 PRICE-TO-EARNINGS RATIO PRICE-TO-BOOK RATIO 1. 7 x 4. 50 x 1. 4 x 3. 60 x Q 1 2013 3. 60 x Q 1 2014 Q 1 2015 1. 3 x Q 1 2013 Q 1 2014 Q 1 2015

2015 Strategy & Outlook Retail Banking • • • Increase branch network to 30 - selected locations to increase deposit base Launch branchless banking through agencies and outlets Concerted drive into new E-business initiatives to boost deposits and increase payment channels e. g. ; - E- ZWICH card enrolment project - POS Merchant Acquisition on Visa/Master. Card - E-card School fees collection Corporate Banking • • • Pursue high quality, selective asset growth from target sectors Roll-out bespoke training of all staff using dedicated CAL resource Center People • • Continue business process automation to boost operating efficiency Increase share of wallet across target business sectors (oil & gas, energy & power, services and telecommunications) Continue to reward staff performance to retain motivated & high quality personnel Deepen cross-training to enhance cost and operational efficiency Remain on-track with CAL Head Office project to provide world class , conducive work environment Increase operational ATMs from 85 to 110 by year end 2015 Enhance IT products to offer additional channel expansion notably: – – – – Technology Risk Management & Compliance Grow non-funded income from International trade , forex , advisory & syndication mandates • • VISA/Master. Card POS merchant terminals Master. Card/ China Union Pay products ATM acquiring on Master. Card Issuance of Prepaid Master Cards Enhance Visa Platform using VBV Acquiring Diners and Discovery on ATMs/POS channels Enhanced Internet banking Strengthen risk management framework Balance market risk exposures while optimising return on risk Enhance loan monitoring and early-detection toolkits to ensure quality loan portfolio. Maintain low NPL ratio

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