#MoneyReport2023: Beyond banking basics – OmniBSIC Bank demonstrates service excellence and innovation


The year is 2017, and Ghana’s financial landscape is set for a seismic shift as the Bank of Ghana’s efforts at strengthening the comparatively nascent banking industry led to the integration of OmniBank and Sahel Sahara Bank, two formidable players in the banking arena. The aligned entity became known as OmniBSIC Bank.

The symphony of this merger echoes with shared ideals and aspirations, echoing a resolve to sculpt a financial institution that would not merely follow trends, but orchestrate them. One that goes beyond the basics, providing more than core banking services par excellence, by catering to unique customer groups.

The merger was not just a strategic decision; it was a pivotal moment that marked the birth of a new era in Ghana’s banking landscape. The union was a manifestation of their shared vision, values, and dedication to raising the bar in the industry. This merger set the stage for the bank to rise as a leader in service excellence, innovation, and customer satisfaction.

Core values that shape excellence

Central to OmniBSIC Bank’s success are its core values encapsulated in the acronym CREATE – Creativity, Responsibility, Excellence, Accountability, Teamwork, and Enthusiasm.

At the very heart of OmniBSIC’s identity lies the profound value of creativity, an intrinsic force that propels the bank to the forefront of innovation. Firmly anchored in the conviction that its employees serve as reservoirs of fresh ideas, OmniBSIC diligently nurtures a culture that thrives on ingenuity.

This devotion to unfettered creativity guides the bank’s unwavering quest to forge superior products, refine services, and revolutionize processes, all with the collective aim of enriching the lives of its stakeholders. Beyond merely trailing the currents of change, OmniBSIC leads the transformation agenda, steering the course of banking’s future through its pioneering spirit.

Embedded deeply within OmniBSIC’s principles is the unshakable tenet of responsibility. A coming together of transparency, compliance, and communal dedication resonates throughout its operations. The bank stands as an unwavering pillar for the pressing needs of the communities in which it operates, setting a precedent for ethical conduct. While dedicatedly serving its diverse clientele, OmniBSIC extends its hand to nurture the growth and well-being of the very society it calls home.

Excellence, a relentless pursuit etched into OmniBSIC’s fabric, propels the bank to scale ever-greater heights. With a desire for distinction, OmniBSIC embarks on a continuous journey to outshine itself in every facet of its endeavours. Setting the highest bar possible for both its own performance and the broader industry, the bank’s steadfast march toward excellence ensures that its patrons are treated with an experience that is nothing short of extraordinary.

The guiding star of accountability illuminates every step taken within OmniBSIC’s halls. This foundational principle instils a culture of ownership, encouraging each individual to act in the utmost interest of the organization and its stakeholders. This profound sense of accountability underpins the bank’s unswerving dedication to upholding promises and nurturing the trust so deeply invested by its valued patrons.

Similarly, in the grand halls of OmniBSIC’s operations, teamwork emerges as the tie that binds individual threads into a coherent and powerful unit. Here, the collective triumphs over the solitary, and collaboration unfailingly yields superior outcomes. Fostering a culture where teamwork thrives, OmniBSIC orchestrates a symphony of diverse strengths and talents, each contributing to the harmonious resonance of collective achievement.

A spirit of enthusiasm runs through every facet of OmniBSIC’s beliefs and actions, pushing each endeavour with passion. Coupled with an optimistic outlook and a sense of urgency, this enthusiasm ignites the bank’s fervour to serve its patrons and stakeholders. A commitment to creating banking experiences that are truly exceptional is the compelling result of this fervent enthusiasm that propels OmniBSIC’s unwavering dedication.

Beyond the basics: service excellence

OmniBSIC Bank’s remarkable service stands as its defining hallmark. With that goes beyond the norm. The dedicated staff, including well-trained Relationship Managers and Customer Service Officers, ensure round-the-clock holistic customer satisfaction.

At OmniBSIC Bank, service excellence is not merely a tagline; it’s a way of life. The bank understands that in an industry where products often appear homogenous, it’s the quality of service that sets an institution apart from its peers. From the moment customers walk through the bank’s doors to their interactions across various digital channels, the goal is to create an experience that not only meets but exceeds their expectations.

The bank’s staff is carefully selected and empowered through comprehensive training programs, ensuring that they have the knowledge and skills to provide personalized and attentive service to each customer. This commitment to service excellence has led to the establishment of lasting relationships with clients, fostering consistent growth for the bank.

Innovating and impacting

OmniBSIC Bank’s commitment to innovation and impact is evident not only in its service but also in its financial performance. The bank’s financial results for the second quarter of 2023 are nothing short of impressive. Profits soared to GH¢96.56 million, more than quadrupling compared to last year. The bank’s liquidity ratio stands at an impressive 91.48 percent, while the capital adequacy ratio is a robust 23.2 percent.

These numbers are a testament to OmniBSIC’s strategic approach to growth and its ability to navigate challenges effectively. As a fully-fledged universal bank, the institution has managed to strike a balance between profitability and stability. The liquidity and capital adequacy ratios reflect the bank’s commitment to maintaining financial strength and resilience, even in the face of economic uncertainties.

The bank’s growth strategy is bearing fruit, as evidenced by its double growth in interest income, substantial growth in net trading income, and remarkable growth in earning assets. Investments, loans and advances, and deposits from customers have all surged, solidifying OmniBSIC’s position as a resilient lender and partner to businesses.

Building on success for success

OmniBSIC Bank’s journey doesn’t stop here. With an unwavering commitment to becoming the number one bank in customer service delivery and value creation for all stakeholders, the bank is ready to seize new opportunities. The Managing Director, Daniel Asiedu, is leading the charge with a clear vision of consolidating wholesale banking, doubling growth in retail banking, and further enhancing the bank’s digitalization efforts.

In an industry that is constantly evolving, OmniBSIC Bank understands the importance of staying ahead of the curve. The bank’s strategic partnerships and investments in technology have positioned it as a leader in innovation. The successful maiden transaction with the Pan-African Payment and Settlement System (PAPSS) to drive cross-border payments across the continent is a testament to the bank’s forward-thinking approach.

A new era of banking excellence

OmniBSIC Bank’s story is proof of the power of synergy, innovation, and customer-centricity. Through its exceptional service, robust financial performance, and forward-looking aspirations, the bank is setting new benchmarks in the Ghanaian banking industry.

As OmniBSIC continues to evolve and innovate, it paves the way for a new era of banking excellence, transforming the way customers experience financial services and contributing to the growth and prosperity of Ghana’s economy. With each step forward, OmniBSIC Bank reinforces its position as a trailblazer, exemplifying what it truly means to deliver more than the basics of banking.

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