Union Savings and Loans, a subsidiary of the Jospong Group of Companies, is officially known as OmniBank presently with 24 branches across five regions of Ghana.

Speaking at the press launch of the bank on Thursday at East Legon in Accra, Managing Director of OmniBank Ghana Limited, Philip Oti-Mensah, explained that the bank intends to position itself to serve the needs of SMEs.

He disclosed that by 2020 OmniBank aims to achieve a total of one million customer accounts, as well as GH¢3 billion deposit portfolio to become a 2nd quartile bank.

According to him, the vision of OmniBank “is to be the number one bank for entrepreneurs' development in Africa to create value for customers, employees, communities and shareholders.”

The mission of the bank, he added, is “to provide rapid and exceptional banking services to clients through competent employees, extensive delivery channels and technology.”

“OmniBank represents the bank for all and we are poised to become the number one retail bank in Ghana, serving customers in every corner of the country through various means,” he said.

In 2013, Union Savings and Loans began a restructuring and rebranding process which enabled it to become the number one entity within the non-financial sector.

OmniBank thus becomes the 32nd bank within the banking sector of Ghana.

Head of Banking Supervision at the Central Bank, Raymond Amafor, urged management of OmniBank to adopt best practices in order to meet the needs of the banking public.

Be mindful that your ambition does not drive you beyond durable limits, he said.

The event was attended by Governor of the Bank of Ghana (BoG), Dr. Abdul Nashiru Issahaku, Chief of Staff Julius Debrah, Member of Parliament (MP) for Kpone Katamanso Nii Laryea Afotey Agbo, among others.

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