OmniBSIC Bank Ghana Limited

OmniBSIC Bank Ghana Limited is a commercial bank in Ghana that is licensed by the Bank of Ghana, the central bank and national banking regulator.[1]

OmniBSIC Bank Ghana Limited
Private
IndustryBanking
FoundedMarch 4, 2019 (2019-03-04)
HeadquartersAccra, Ghana
Key people
Simeon Patrick Kyei
Chairman
Mensan Adeboke Affambi
Managing Director and CEO
ProductsLoans, savings, checking, investments, debit cards, credit cards, mortgages
Total assetsGHS:1.22 trillion (approx. US$215 million) (Q1:2020)
Number of employees
614 (2020)

It was created by the merger of the erstwhile Omni Bank Ghana Limited and BSIC Ghana Bank Limited.[2]

Location

The headquarters of the bank and its main branch, are located at C9/14 Olusegun Obasanjo Way, Dzorwulu, in the city of Accra, Ghana's capital. As of April 2020, the geographical coordinates of OmniBSIC Bank's headquarters are:05°36'31.0"N, 0°12'31.0"W (Latitude:5.608611; Longitude:-0.208611).[3]

Overview

OmniBSIC Bank Ghana Limited is a retail bank that serves large corporations, small and medium enterprises, individuals and non-governmental organisations in Ghana. As of March 2019, the bank's total assets were GHS:1.22 trillion (approx. US$215 million), with shareholders' equity of in excess of GHS:400 million (approx. US$70 million). At that time, the bank served over 125,000 customers at 46 brick-and mortar branches and employed 614 permanent staff members.[2]

History

In September 2017, the Bank of Ghana directed all universal banks in Ghana to raise their minimum capital reserves from GHS:120 million (US$22.8 million) to GHS:400 million (US$73.4 million). Institutions that couldn't raise the funds internally or from shareholders, could (a) merge[2] (b) exit the Ghanaian banking business (Bank of Baroda (Ghana)) (c) downsize to a savings and loan institution or (c) consolidate (Consolidated Bank Ghana).[4]

OmniBank Ghana and Sahel Sahara Bank (BSIC) decided to merge to form OmniBSIC Bank Ghana Limited, effective 4 March 2020. [5]

Branches

The bank's headquarters are located at: C9/14 Olusegun Obasanjo Way, Dzorwulu, Accra. The bank maintains a networked chain of 46 branches in major urban areas of the country.[2]

Governance

Simeon Patrick Kyei is the chairman of the board of directors. Mensan Adeboke Affambi serves as the chief executive officer of the bank.[6]

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See also

References
  1. Bank of Ghana (9 April 2020). "Bank of Ghana: Licensed Banks, Representative Offices And Their Registered Offices In Ghana". Accra: Bank of Ghana. Retrieved 9 April 2020.
  2. Jospong Group (4 March 2020). "OmniBank, Sahel Sahara Become OmniBSIC Bank". Accra: Jospong Group. Retrieved 9 April 2020.
  3. Google (9 April 2020). "Location of the Headquarters of OmniBSIC Bank Ghana Limited" (Map). Google Maps. Google. Retrieved 9 April 2020.
  4. Suleiman Mustapha & Maxwell Akalaare Adombila (2 August 2018). "Consolidated Bank Ltd takes over assets of 5 collapsed banks". Daily Graphic (Ghana). Accra. Retrieved 9 April 2020.
  5. Peace FM Online (4 March 2020). "OmniBank And Sahel Sahara Bank Merge To Form OMNIBSIC Bank Ghana Limited". Accra: Peace FM Online. Retrieved 9 April 2020.
  6. 3news.com (4 March 2020). "Omnibank completes merger with Sahel Sahara without immediate job losses". Accra: Ghanaweb.com. Retrieved 9 April 2020.

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