OmniBSIC Bank is a merger between erstwhile OmniBank and Sahel Sahara Banks. This merger was necessitated by sector reforms introduced by the Bank of Ghana in 2017 aimed at strengthening the Ghana Banking Industry by increasing the minimum capital requirement of banks. Furthermore, since both banks shared similarities in business models, values, and banking experience and were both committed to offering unmatched customer service in Ghana’s banking industry, the merger between OmniBank and Sahel Sahara Bank was a perfect fit.
The merger between OmniBank and Sahel Sahara Banks represents one of Ghana’s most successful unions in recent history; a noteworthy milestone that would not have been possible without our committed shareholders, management and staff.
Following Bank of Ghana’s approval in 2018, the new OmniBSIC Bank currently operates as a universal bank licensed by Bank of Ghana under the Specialized Deposit-Taking Institutions Act, 2016 (Act 930) with its headquarters at Atlantic Tower, Airport City. The merger that was initially necessitated by the regulator’s requirements has developed into a synergy poised at becoming the Number One Bank in customer service in Ghana.
The headquarters of the bank and its main branch, are located at Atlantic Tower, Airport City, in 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).
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 billion (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.
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 (b) exit the Ghanaian banking business (Bank of Baroda (Ghana)) (c) downsize to a savings and loan institution or (c) consolidate (Consolidated Bank Ghana).
OmniBank Ghana and Sahel Sahara Bank (BSIC) decided to merge to form OmniBSIC Bank Ghana Limited, effective 4 March 2020
OmniBSIC Bank Ghana Limited Customer Care Number
+233 (0) 307086000, [email protected]
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