Employees at Bank of Baroda, an Indian-based bank that has decided to transfer its depositors and loans to Stanbic Bank, will more than likely lose their jobs, according to financial consultant Dr. Daniel Seddoh.

On the Super Morning Show Wednesday, Seddoh explained that although details are unknown regarding where the staff will go, it is more than likely that they will need to find work elsewhere.

“It is not Stanbic’s responsibility to acquire Baroda’s employees,” said Seddoh to the show’s host, Daniel Dadzie. “Stanbic Bank is assuming responsibilities for the depositors. It does not mean that workers should follow.”

On Tuesday, sources close to Joy Business confirmed that the Bank of Baroda decided to transfer its depositors and loans to Stanbic Bank because it didn’t feel that it needed to meet Bank of Ghana’s GH¢400 million minimum capital requirement.

According to Joy Business’ Philip Nanfuri, Bank of Ghana’s requirement is not aligned with the Bank of Baroda’s business model.

“Bank of Baroda is a very small bank here and they didn’t feel that they needed it for their line of operations. Their risk is low,” Nanfuri told Myjoyonline.

Seddoh added that the bank will discontinue their business in Ghana. The Indian-based bank currently serves 82 million customers across 22 countries, according to its website.

Meanwhile, Seddoh predicts that Stanbic execs are content about the deal. The fairly young financial institution, which sprouted among dozens of others in 2009, has since become one of the country’s most premier banks.

“Everybody wants customers so Stanbic should be happy. It’s good news for Stanbic,” said Seddoh. “[Stanbic] will just have to work on building relationships with their new customers.”

Neither the Bank of Baroda, Stanbic Bank nor the Bank of Ghana has responded to requests for comment, but according to a source close to Myjoyonline, Stanbic’s takeover of the Bank of Baruda should not be any cause for concern.