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Business News of Monday, 4 March 2019

Source: 3news.com

Omnibank completes merger with Sahel Sahara without immediate job losses

OmniBank Ghana Limited and Sahel Sahara Bank Ghana Limited have today announced the completion of the merger processes between the two banks, and assured there will be no immediate job losses.

The two major banks resolved last year to merge in order to pull resources together to meet the 400 million-cedi new minimum capital requirement by the Bank of Ghana which took effect from December 31, 2018.

It will now operate under the name OMNIBSIC Bank Ghana Limited and have “Together we give you more” as its theme.

It has Mensan Adeboke Affambi as its Managing Director with Simeon Patrick Kyei as the board chairman.

Customers of both banks can now transact business in any of the 46 branches between the new working hours of 8:00am to 5:00pm on weekdays and 9:00am to 2:00pm on Saturdays.

The customers will also among other things, benefit from wider branch network, best user-friendly and robust electronic banking platforms, a variety of products and services as well as stronger balance sheet from Omnibus Bank.

Managers of the bank have meanwhile assured the staff that they would work to ensure that there are no job losses in the merger in the interim.

“The merger will also ensure that there are no immediate job losses as agreed between the shareholders,” a statement issued Monday by the Corporate Communications Department of the bank assured.

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

Managers of the merged bank said they will use the pool of expertise from the two banks to provide more opportunities, increase access and make Omnibsic Bank attractive to the banking public.

It assured customers that they will continue to be at the centre of the bank’s activities as they are poised to become “the bank of choice in excellent customer service” in the country.

“We remain committed to delivering enhanced products and services including Corporate Banking, commercial and retail banking, digital banking and trade finance delivered through excellent customer service to our over 160,000 customers in the country and millions others across the continent,” it said.

Find the full statement below