OmniBSIC Bank Ghana LTD

Introduction

OmniBSIC Bank Ghana LTD is a financial institution operating in Ghana as a fully-fledged universal bank. The institution conducts its operations within the regulatory framework established for the Ghanaian banking sector.

The bank is licensed by the Bank of Ghana and operates in accordance with the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), which governs the activities of banks and other deposit-taking entities in the country.

Corporate History and Formation

OmniBSIC Bank is the result of a merger between two formerly separate entities, the erstwhile OmniBank and Sahel Sahara Bank. This consolidation formed the current institution.

The merger was undertaken in the context of the financial sector consolidation programme introduced by the Bank of Ghana in 2017. This programme was designed to strengthen the capital base and overall resilience of the country's banking industry.

Core Banking Operations

The principal activities of OmniBSIC Bank are centered on three main pillars: corporate banking, investment banking, and retail banking. These areas define its primary operational focus and service delivery model.

The bank serves a diverse client base that includes corporate entities, Small and Medium-sized Enterprises (SMEs), and individual customers, providing financial products and services structured for these distinct segments.

Service Philosophy and Governance

The bank's stated vision is centered on customer service delivery and the creation of value for its stakeholders. Its corporate philosophy is built upon pillars that include service excellence, value creation, innovation, and business growth.

The institution's governance structure includes a Board of Directors and an Executive Management team. The leadership hierarchy also consists of group, divisional, zonal, and department heads who oversee specific operational areas.

Digital Banking Channels

OmniBSIC Bank provides customers with several digital channels for accessing banking services. These include an internet banking platform for online account management and transactions.

The bank also offers a mobile banking application, known as BOLD, and a USSD banking service accessible via a dedicated short code. In addition, the bank supports transactions through the GhanaPay mobile money service.

Payment and Transaction Services

The institution facilitates a range of domestic payment and cash management services. It processes transactions through the Automated Clearing House (ACH), cheque codeline clearing, and GHIPSS Instant Pay, and is connected to the Ghana interbank settlement system.

For international and regional trade, the bank provides trade services, including outward and inward fund transfers. It is also a participant in the Pan-African Payment and Settlement System (PAPSS). Other services include mobile money integration, remittance processing, and funeral collection services.

Card and Point of Sale Services

OmniBSIC Bank offers card services to its customers for electronic payments and cash withdrawals. The bank issues the Ghana-Link Card, which is part of the national switch system, enabling interoperability.

The bank also provides the E-Zwich Card, a biometric smart card system used in Ghana. In addition to these card products, the institution provides debit and other electronic cards and makes available point of sale (POS) terminals for merchant payments.