OmniBank Ghana Limited and Sahel Sahara Bank Ghana Limited (BSIC) have completed their merger process.

The theme of the merger is: “Together we give you more”.

The two entities, now one company, will, effective 4 March 2019, operate under the name OmniBSIC Bank Ghana Limited.

“The merger was necessitated by the need to increase capital to meet the new Bank of Ghana Minimum Capital Requirement of GHS400 million. This merger represents a pooling of the expertise of two major banks with strengths in various banking services to provide more opportunities, increase access and make the merged entity attractive to the banking public,” the OmniBSIC Bank Ghana Limited said in press statement.

The merger is expected to achieve the following benefits:

A wider branch network

A selection of best user-friendly and robust electronic banking platforms

A stronger Balance Sheet

A variety of products and services

Several correspondent banking partners and international trade lines

“In line with our strategic vision, our customers will continue to be at the centre of our activities as we are poised to become the bank of choice in excellent customer service,” the statement added.

Customers of both banks can transact business in any of the 46 branches between the new working hours of 8 a.m. to 5 p.m. on weekdays and 9 a.m. to 2 p.m. on Saturdays.

The merger, according to the statement, will also ensure that there are no immediate job losses as agreed between the shareholders.

Rather, as part of the merger process, there is ongoing effort to achieve seamless cultural integration and capacity building to ensure all staff are carried along to reach the vision of the bank.


Source: Ghana/ClassFMonline.com/91.3FM