Union Savings And Loans Now OmniBank

Chief of Staff, Hon Julius Debrah at the launch of OmniBank, formerly called Union Savings and Loans has charged the Governor of Bank of Ghana to give license to any Ghanaian entity that qualifies to run a commercial bank.

According to him, giving license to Ghanaian owned entities will create jobs in the country.

Speaking at the launch, Hon. Julius Debrah praised OmniBank for targeting entrepreneurs as one of its prime objectives; thus the era the nation finds itself is entrepreneurship as many banks are shying away from it.

“Mr Governor, even though we have reached 32nd, let me use this opportunity without any shortcut, any Ghanaian entity that qualifies to run a commercial bank, I will encourage you to license them because if for nothing at all they will create jobs and then because the competition is going to be hard, they will play it to the tenet of the game”, he charged.

“I believe sincerely that Ghana has come of age and because we want to expand our economy, we should encourage our brothers and sisters who have the means to be able to support the banking industry to be given the opportunity to do so,” he stated.

He however asserted that by the next five years, the country can see as many Ghanaian owned banks as possible; thus, at the end of the day Ghanaian banks also must be going on well.

OmniBank is the 32nd licensed bank in the country as it has set a target of 3 billion Cedis in the second quarter; however, it received its full banking license from Bank of Ghana in July 2016.

Addressing the gathering, the Managing Director of OmniBank, Mr. Philip Oti Mensah has assured that the bank will continue to serve the SME sector to expand its operations.

Mr Oti Mensah reiterated that, prior to attaining a banking status, the company which operated as Union Savings and Loans adequately served the SME sector, hence will not depart from it.

Source: Daniel Adu Darko/Peacefmonline.com.gh