OmniBSIC Bank explained

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]

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 atAtlantic 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).

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 December 2023, the bank's total assets were GHS:5.682 billion (approx. US$363.76 million), with shareholders' equity of GHS:491.6 million (approx. US$31.5 million).^[3] As of 2019, the bank served over 125,000 customers at 46 brick-and mortar branches and employed 614 permanent staff members.^[2] The Jospong Group is an investor in OmniBSIC Bank.^[4]

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).^[5]

OmniBank Ghana and Sahel Sahara Bank (BSIC) decided to merge to form OmniBSIC Bank Ghana Limited, effective 4 March 2020.^[6]

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. Daniel Asiedu serves as the chief executive officer of the bank.^[7]

See also

• List of banks in Ghana
• List of companies of Ghana
• Economy of Ghana

External links

• Official Website
• OmniBSIC Bank posts strong results for Q1, pledges increased support to businesses As of 29 April 2024.

5.6086°N -0.2086°W

Notes and References

1. Web site: Bank of Ghana: Licensed Banks, Representative Offices And Their Registered Offices In Ghana . . 9 April 2020 . Bank of Ghana . 9 April 2020 . Accra.
2. Web site: OmniBank, Sahel Sahara Become OmniBSIC Bank. 4 March 2020 . . 9 April 2020 . Accra . Jospong Group .
3. Web site: 28 March 2024 . Audited Financial Statements For The Year Ended 31 December 2023 . OmniBSIC Bank Ghana (OBSICBG) . OBSICBG . 17 August 2024 . Accra, Ghana.
4. Web site: OutstandingBrands23: Jospong Group of Companies—innovative businesses that provide quality and value . Business and Financial Times (TBFT) . 13 February 2023 . TBFT . 12 March 2024 . Accra, Ghana.
5. Web site: 2 August 2018 . Consolidated Bank Ltd takes over assets of 5 collapsed banks . . Suleiman Mustapha & Maxwell Akalaare Adombila . Accra . 9 April 2020.
6. Web site: Peace FM Online . 4 March 2020 . Peace FM Online . 9 April 2020 . OmniBank And Sahel Sahara Bank Merge To Form OMNIBSIC Bank Ghana Limited . Accra.
7. Web site: Omnibank completes merger with Sahel Sahara without immediate job losses . Ghanaweb.com . 4 March 2020 . 3news.com . 9 April 2020 . Accra.