Diamond Bank RSS Please select an article from the news topic below http://www.diamondbank.com Tue, 02 Sep 2014 09:03:51 +0000 Open Source Excellence RSS Feeder en-gb KUNOCH HOLDINGS ACQUIRES ACTIS LLP’S AND CDC GROUP’S STAKE IN DIAMOND BANK PLC http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/592-kunoch-holdings-acquires-actis-llp-s-and-cdc-group-s-stake-in-diamond-bank-plc http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/592-kunoch-holdings-acquires-actis-llp-s-and-cdc-group-s-stake-in-diamond-bank-plc Diamond Bank Plc (“Diamond Bank” or the “Bank”) is pleased to announce that Kunoch Holdings (“Kunoch”) has successfully completed the purchase of Actis DB Holdings Limited, a company which holds Diamond Bank shares, from Actis LLP and CDC Group Plc. Actis DB Holdings Limited (“Actis DB”) currently holds 14.79% of the issued share capital of Diamond Bank.

 

Funds managed by Actis, a private equity investor specialising in investments in emerging markets, acquired a significant equity stake in the Bank in 2007. These funds are now coming to the end of their closed-end period and, accordingly, Actis is realising its investment in the Bank. Over the years, positive contributions by Actis, other institutional investors and the new management team of the Bank have created additional value for all Diamond Bank's shareholders.

 

Peter Schmid, Actis Head of Private Equity commented: "We have worked with Diamond Bank to build a strong franchise over the last seven years. During the period of our investment, Diamond Bank underwent substantial change and is now recognised by the Central Bank of Nigeria as one of the systemically important banks in the industry. The Bank has a strong and capable management team to take it to the next stage of its development and Actis wishes Alex and his team well in this next phase."

 

Dr. Alex Otti, Group Managing Director of Diamond Bank said: “We are pleased to have worked with Actis over the last seven years, and are excited about the next stage of the Bank’s development. Diamond Bank is one of the leading retail banks in Nigeria, with exciting growth prospects in the retail segment of the Nigerian economy as well as a strong position in the Micro, Small and Medium Scale Enterprises and corporate segments of the economy. Diamond Bank has been described as one of the fastest growing Banks over the past three years in the Tier II category and potentially the next Bank that would move to the Tier I category. The Bank is currently undertaking a Rights Issue to raise an additional N50.3 billion which is expected to position the Bank to further enable it to execute its strategy going forward”.

 

 

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aaderibigbe-banzi@diamondbank.com (Adebowale Aderibigbe-Banzi) Thu, 21 Aug 2014 15:39:03 +0000
Diamond Bank, MTN Launch Diamond Yello Account http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/590-diamond-bank-mtn-launch-diamond-yello-account http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/590-diamond-bank-mtn-launch-diamond-yello-account Leading retail bank, Diamond Bank PLC, has launched an innovative banking product, Diamond Y’ello, as part of its financial inclusion programme to reach the unbanked.

The Diamond Y’ello Account (DYA), which is run in partnership with mobile telecommunications giant, MTN Nigeria, is a hybrid account that offers the over 58 million MTN subscribers a fusion of financial services and telecoms incentives such as money transfer and withdrawal, account statementsconfirmation andairtime purchase amongst a host of available features and benefits.

Speaking at the launch of the account, Dr Alex Otti, GMD/CEO, Diamond Bank PLC, said the Diamond Y’ello Account is part of the bank’s strategic programme to reach the unbanked population with innovative and easily accessible financial solutions.

According to Dr. Otti: “The Nigerian banking industry is over a hundred years old, but can only boast of only about 40 million bank accounts. In the 14years of mobile telephony in Nigeria, the telcos have grown a robust subscriber base of 120 million customers and still counting. That is why we decided to partner with one of the trusted and most extensive networks to bring our banking services closer to people who would like to bank with us but are limited by challenges within their environment.

Explaining the rationale, Dr. Otti explains further: “What we have done is to make banking more accessible to Nigerians. To open a Diamond Y’ello account, a customer only needs to have a registered MTN line and by dialing the short code *710#, the subscriber gets a full NUBAN account number delivered by SMS to his mobile phone within minutes”.

The Diamond Y’ello Account is open to all. The Youth and Mass Market segments of the MTN subscriber base as well as the unbanked and under-banked subscribers are especially invited to take advantage of the favourable account opening requirements and convenient features of the service.”

Speaking at the event, CEO of MTN Nigeria, Mike Ikpoki disclosed that the Diamond Y’ello idea is driven by a commitment from Diamond Bank and MTN to ensure that technology is used to make life easier for people.

He said: “Technology is a tool that should make life easier for people. This product is simple and accessible to all customers on our network.”

Lending his support to the partnership, Dr. Pascal Dozie, Founder, Diamond Bank Plc and Chairman, MTN Nigeria, said that Diamond Y’ello is a hybrid account produced by two outstanding companies in their separate industries.

He said: The partnership between Diamond Bank PLC and MTN Nigeria is in support of government policies. The Diamond Y’ello Account will strengthen the cashless policy of the Central Bank of Nigeria. It will also provide gainful employment for Nigerians and other stakeholders.”

Every MTN subscriber hasaccess to a Diamond Y’ello Account with benefits which include: easy access to open and operate a bank account through the subscriber’s mobile phone or agent network within the customer’s community, full bank services with interest payments on account balances and fund transfer services to any bank account in Nigeria.

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Mon, 18 Aug 2014 13:29:20 +0000
DIAMOND BANK Plc MAINTAINS STABLE GROWTH, RAKES IN N13.8B PAT IN 6 MONTHS http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/587-diamond-bank-plc-maintains-stable-growth-rakes-in-n13-8-billion-in-6-months http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/587-diamond-bank-plc-maintains-stable-growth-rakes-in-n13-8-billion-in-6-months Despite regulatory constraints, Diamond Bank Plc, in its half year (H1) performance scorecard, demonstrated its ability to continue to sustain growth by posting 9% increase in its profit after tax (PAT) for the half business year (HBY) ended 30 June 2014.

This is as reported in the Bank’s Unaudited H1 Results released to the Nigerian Stock Exchange (NSE) and made available to financial correspondents in Lagos, Nigeria.

Speaking from the Bank’s Corporate Head Office in Lagos, Dr. Alex Otti, Group Managing Director/CEO, said that the Bank maintained its business focus to deliver and surpass set targets. “We are pleased to release the latest set of results which demonstrate the Bank’s ability to improve on our success in the previous years despite regulatory headwinds”, he stated.

A review of the financial result for the period indicates that Diamond Bank recorded a profit after tax (PAT) of N13.8 billion compared to N12.6 billion reported in the same period of last year.

In the same period, the Bank grew its total comprehensive income from N11.9 billion in 2013 to N14.1 billion in the current business year (BY), representing 19% increase.

According to Dr. Otti, “We continued to report healthy asset growth (up 15% from Dec. 2013) and have maintained strong deposit growth especially from the retail segment of the market.”

The Bank showed good appetite in funding the real sector as loans and advances to customers were upped by 10% to N756 billion from N689 billion in the previous year.

Total Assets of the Bank now stand at N1.7 trillion up 15% from N1.5 trillion in December 2013, while deposits from customers rose to N1.3 trillion up 8% from N1.2 trillion in December 2013. 

“Our cost profile remains efficient as we continue our expansion drive; and our risk indicators continue to show sustainable asset quality ratios that adequately support the bank to deliver on the target returns by year end,” noted the GMD

Although the Bank’s business focus is sharpened on Corporate, Retail and Public Sector businesses, the Bank has continued to grow and maintain leading position in the Retail Banking segment of the economy. 

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Fri, 01 Aug 2014 17:58:59 +0000
DIAMOND BANK PLC TO RAISE N50.37 BILLION VIA A RIGHTS ISSUE http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/585-diamond-bank-plc-to-raise-n50-37-billion-via-a-rights-issue http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/585-diamond-bank-plc-to-raise-n50-37-billion-via-a-rights-issue Arrangements for a Rights Issue by Diamond Bank Plc (“Diamond Bank” or “the Bank”), have now been concluded, following the approval granted by shareholders at the Bank’s Annual General Meeting held on 24 April 2014. A total of N8,685,145,863 Ordinary Shares of 50 kobo each will be offered to the Bank’s shareholders in the ratio of 3 new Ordinary Shares for every 5 Ordinary Shares held as at 13 June, 2014 at N5.80 per share. Final approvals for the registration and listing of the shares, from the Securities & Exchange Commission and The Nigerian Stock Exchange respectively are expected imminently. The Rights Issue is expected to commence on Wednesday, 30 July 2014 and close on Tuesday, 26 August 2014.

 

Stanbic IBTC Capital Limited (“Stanbic IBTC Capital”) is the Lead Issuing House while FBN Capital Limited (“FBN Capital”) is the Joint Issuing House to the Rights Issue.

 

At the Signing Ceremony held on Tuesday, 15 July 2014, the Group Managing Director of Diamond Bank, Dr. Alex Otti, disclosed that the net proceeds of the Rights Issue will be applied towards the development of the Bank’s IT infrastructure, working capital support and the expansion and refurbishment of the Bank’s business locations. Furthermore, the successful outcome of the Rights Issue should improve Diamond Bank’s tier 1 capital, thereby positioning it to take on bigger opportunities in the sector and ultimately increasing value for shareholders.

 

The Head of Stanbic IBTC’s Equity Capital Markets, Mrs Oyinda Akinyemi, commended the Management of Diamond Bank for their efforts towards ensuring that the Bank maintains its leading position in the sector and urged the Bank’s shareholders to seize the opportunity of the Rights Issue to show their confidence in the Bank’s potential for future growth. The Executive Director, FBN Capital, Mr. Taiwo Okeowo reiterated that the Bank has considerable potential for long term growth, given its market share of the growing retail banking sector and is a good investment opportunity for shareholders.

 

The Rights Circular for the Issue, which contains a Provisional Allotment Letter and the Application/Renunciation Form, will be dispatched directly to each shareholder before the Rights Issue opens.

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Tue, 22 Jul 2014 08:36:01 +0000
DIAMOND BANK’S $200M EUROBONDS RECEIVE GLOBAL ACCEPTANCE http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/553-diamond-bank-s-200m-eurobonds-receive-global-acceptance http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/553-diamond-bank-s-200m-eurobonds-receive-global-acceptance Investors worldwide have indicated a warm acceptance of the Diamond Bank brand at its recently concluded inaugural Eurobond issuance exercise with the printing of $200mn worth of bonds with a maturity of 5 years. 

Commenting on the successful completion of the road show with international fixed income investors, Group Managing Director/CEO of the Bank, Dr. Alex Otti said the Bank is pleased with the turn of events as it demonstrates a global acceptance of the efforts aimed as positioning the Bank as a market leader.

“The successful issuance of the Eurobonds is yet another milestone in the growth trajectory of the bank. Three years ago, we embarked on the task of transforming Diamond Bank into a leading player in the Nigeria Banking industry and having moved four positions from the 11th largest bank in terms of total assets size to 6th, we are quite convinced that we are on the right path. The success of this Eurobonds issuance exercise has effectively launched Diamond Bank into the international market and we will continue to tap from this opportunity in a phased manner as the opportunities present themselves,” said Dr. Otti.

The bank had recently announced its intention to meet with international fixed income investors on a roadshow with a target to raise between $200mn and $300mn.

Explaining the rationale behind the capital raising exercise and the decision of the Bank to peg the maturity of the funds at 5 years, Chief Financial Officer of the Bank, Mr. Abdulrahman Yinusa said, “The proceeds of the bonds will be used to fund growth of the business.  With the remarkable growth we have recorded in the last three years, we have grown our loan book significantly, with a large portion of the loans extended to major players in the Oil and Gas, Telecommunications and Power sectors.”

“In addition, we will deploy some of the proceeds into funding our short tenured Trade Finance transactions, which is another area of strength for the Bank. Though we are currently the 6th largest bank in the country, we have consistently ranked amongst the top 3 in Trade Finance. This led to us to receive the award of the Best Issuing Bank in Sub-Sahara Africa by the International Finance Corporation (IFC), an arm of the World Bank earlier this year,” concluded Mr. Yinusa.

Diamond Bank’s recently issued Eurobonds have been rated “B”, by both Standard & Poor’s and FitchRatings riding on the enterprise rating of the Bank by both rating agencies.

It will be recalled that the Bank in its audited full year accounts for 2013 declared a profit before tax of N32bn.  For two consecutive years, the Bank has also been named the Best Oil and Gas Investment Bank by the London-based World Finance magazine.

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Fri, 16 May 2014 16:13:12 +0000
DIAMOND BANK PROMOTES OVER 450 STAFF http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/537-diamond-bank-promotes-over-450-staff http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/537-diamond-bank-promotes-over-450-staff Diamond Bank PLC recently announced the promotion of more than 450 of its staff across various grade levels. According to the bank’s Head of Corporate Communications Division, Mrs. Ayona Trimnell, “this recent promotion exercise is part of the bank’s annual performance review exercise as the bank seeks to continuously recognize and reward members of staff who have excelled in the workplace. At Diamond, we have always maintained that the Bank’s performance is linked to the quality of the staff it retains. As such, in the last few days, more than 450 members of staff who have excelled have been promoted.

This recent promotion exercise marks a double celebration for staff of the Bank as the Bank recently declared an unprecedented profit after tax of N28.5billion for the last financial year ended. This signifies an impressive 29% growth in the Bank’s profit in an industry that showed largely dwindling financial performance in the last financial year as a result of stifling regulations and negative global economic outcomes.

“For us to continue to perform excellently like we did in 2013, we have to recruit and retain the best people in the industry. That is why, every year, we recruit the best talent in the industry, and also assess our staff on the basis of key performance indicators (KPIs) and deliverables”, said Mrs. Trimnell.

Diamond Bank has consistently emerged as one of the largest employer of talent in the Nigerian Banking industry with well over 2,224 new recruits in the last financial year, of which 1,181are fresh graduates from reputable Universities around the country. The Bank boasts of a robust personnel engagement strategy that helps it to continually attract and retain the best talent in the industry. This is in fulfillment of its corporate vision of becoming a leading financial institution, with the best people, providing unequalled customer experience and delivering superior shareholder value.

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Wed, 02 Apr 2014 17:36:30 +0000
FY 2013: DIAMOND BANK CONSOLIDATES PROFITABLE GROWTH WITH 29% INCREASE IN PROFIT AFTER TAX http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/535-fy-2013-diamond-bank-consolidates-profitable-growth-with-29-increase-in-profit-after-tax http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/535-fy-2013-diamond-bank-consolidates-profitable-growth-with-29-increase-in-profit-after-tax Diamond Bank PLC has continued on the path of excellent financial performance, delivering a double digit return on equity as it announced a 16.7% increase in profit before tax to N32.1billion for the full year ended December 31, 2013. On the back of the very good performance, the bank has proposed a dividend of 30k per 50k ordinary shares.

In a statement released from its head office in Lagos, Group Managing Director / Chief Executive Officer of the Bank, Dr. Alex Otti, stated “We are pleased to announce that Diamond Bank has exceeded its N30 billion profit guidance to return a profit before tax of N32 billion in 2013. This result is rooted in our strength to attract low-cost deposits and deploy these into various assets at profitable yet acceptable risk levels”.

While the bank achieved a net interest income of N104.6billion (up 17.1% from N89.3billion recorded in 2012), it generated interest and similar income of N143.1 billion (up 27.3% from N112.4billion earned in 2012). Diamond Bank also achieved a 46.2% increase in other income from N23.8billion it recorded in the preceding year to an impressive to N34.8billion in 2013.

Diamond Bank’s 2013 financial results also show improvement in various areas of the Group balance sheet with loans and advances to customers increasing by 17.8% to N689.2 billion; deposits from customers increasing by 32.5% to N1,206.0 billion.

 In 2013, Diamond Bank extended its frontiers to the United Kingdom when it opened its UK Subsidiary - Diamond Bank UK Plc. The group has enjoyed significant synergy from the expansion into the UK market.

Diamond Bank is regarded as the leading bank in SME and retail business in Nigeria. The bank, which has banking  subsidiaries in Republic of Benin, Togo, Cote D’Ivoire and Senegal has deployed the retail model across these West African Countries and this has expedited its earnings and strengthened its balance sheet with capacity to generate significant low-cost deposit across the West African coast.

The GMD added: “Despite the challenging operating environment, we continue to advance our competitive advantage with above industry balance sheet growth. We will continue to explore all opportunities to grow our business and market share responsibly as we leverage on our growing customer relationships, enhanced by our expansive delivery channels and excellent service delivery.

Diamond Bank Plc is one of Nigeria’s leading banks, providing financial services to corporate and individual customers across Nigeria and West Africa.

 

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aaderibigbe-banzi@diamondbank.com (Adebowale Aderibigbe-Banzi) Sat, 29 Mar 2014 14:23:46 +0000
Diamond Bank Sponsors 24th NUGA Games http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/523-diamond-bank-sponsors-24th-nuga-games http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/523-diamond-bank-sponsors-24th-nuga-games Diamond Bank Plc., Nigeria’s leading retail bank, will be the lead sponsor of the 24th edition of the Nigerian Universities Games Association (NUGA) competition.

The event, which will hold between February 12-22, 2014 at the prestigious Obafemi Awolowo University, Ile Ife, Osun State, will attract over 60 universities and 7,000 athletes that will feature in 15 different sports, includingTrack & Field, Badminton, Basketball, Chess, Cricket, Handball and Judo. Others are Hockey, Football, Swimming, Table tennis, Taekwondo, Tennis and Volleyball.

 

According to Mrs Ayona Trimnell, Head of Corporate Communications, Diamond Bank Plc, the bank’s support for the event is part of its sponsorship programmes targeted at supporting the dreams and aspirations of Nigerian youths.

 

She said: “As a responsible corporate citizen, we recognise the role competitive sports play in developing well-rounded youths. The NUGA Games provides that needed platform for sportsmanship and competitiveness, hence our decision to add it to our sponsorship portfolio to ensure that the youths get the best of the experience.”

In order to create better awareness for the Games beyond the vicinity of the host university, the bank has finalized plans for the airing of the daily highlights on: Supersport, CoolFM, Wazobia FM and Nigeria Info FM. The daily highlights will include news, interviews, results, side attractions, among others.

 

Trimnell added that the NUGA Games would also provide the bank a good platform to launch Diamond S.W.A.G., its newly designed product meant for the youth segment.

She said: “We have just developed a new product called the Diamond S.W.A.G. which we expect to create value for our young customers; to enable and empower them for the future. We see the NUGA fiesta as a good platform to launch this product and partner the students in building a secured future.”

 

Trimnell also informed that Diamond Bank has lined up a number of activities and side attractions to add to the fun and excitement of the event.

“The Bank is instituting a daily ‘NUGA Challenge’ at the Arena where interested students can come and ‘rep’ their respective universities”.  Also participants will stand a chance to win N50k or N100k in the DiamondXtra Special NUGA draw at the Diamond S.W.A.G. Concert, plus lots of exciting giveaways, including a VIP ticket to the Diamond SWAG Concert which will feature a mystery guest artiste on the 22nd of February 2014,” she added.

Click HERE to watch the Dimaond Bank NUGA Games Montage. 

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Mon, 10 Feb 2014 17:34:45 +0000
AFRICAN GUARANTEE FUND PARTNERS DIAMOND BANK TO SUPPORT SMALL BUSINESSES IN WEST AFRICA http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/522-african-guarantee-fund-partners-diamond-bank-to-support-small-businessesin-west-africa http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/522-african-guarantee-fund-partners-diamond-bank-to-support-small-businessesin-west-africa More support has come the way of leading retail bank, Diamond Bank PLC in its drive to provide adequate support for Micro Small and Medium Scale Enterprises (MSMEs) in West Africa. This time, the African Guarantee Fund (AGF) has entered into an agreement with Diamond to support the bank’s lending to small businesses in the region to the tune of USD 25 Million.

Speaking at a press conference held after the partnership agreement signing ceremony, Executive Director – Retail Banking, Diamond Bank PLC, Mr. Uzoma Dozie, said the Bank was delighted by the partnership as it was an indication that the Bank’s support for MSMEs is laudable and that the Bank would continue to provide more support for the vital business segment.

According to the Chief Executive Officer, African Guarantee Fund, Mr. Felix Bikpo, “In Africa, majority of the economic growth is trade driven. Once trade is backed out, we have little or nothing.AGF is positioned to drive real economic development that takes Africa back to what it was in the past where a lot of its growth was driven at the local level. What we are doing in the AGF is to partner with like-minded institutions to provide adequate support for MSMEs to function actively in thesector. We are glad to partner with Diamond Bank as we have found their MSME support strategy to be the right one.”

Under the terms of the USD 25 Million agreement, Diamond Bank affiliates in Togo, Benin, Senegal, Côte d’Ivoire and Nigeria will work together with AGF to increase lending to MSMEs to unlock the potentials within them in the region.

“One of the major constraints faced by small businesses is the restricted access to credit. MSMEs cannot access finance due to unavailable or inadequate collateral security, lack of financial or other records and are therefore perceived as highly risky by banks. What we seek to achieve with this partnership is to provide unsecurelending to small businesses to the tune of USD 25 million with the AGF guarantying or, if you like, insuring 50% of the funds. This partnership would also help us extend our MSME support franchise to Diamond Bank subsidiaries in Franco-phone West Africa for we believe they constitute the engine of economic growth for the region,” explained Mr. Jude Anele, Head of the Retail Banking Division at Diamond Bank.

Launched in 2012, theAfrican Guarantee Fund is a joint venture between the African Development Bank, the Danish and Spanish Governments. The organisation is a permanent regional conduit for channeling guarantees and technical assistance to financial institutions in Africa with the objective of generating enhanced growth in the MSME sector, thereby creating increased employment opportunities in African economies.

Diamond Bank has come to be regarded as the leading supporter of small businesses in Nigeria, granting well over N120 billion in loans to more than 120,000 MSMEs in Nigeria since 2009. The Bank boasts of a dedicated MSME team with a deep understanding of the concerns bothering small businesses and have consequently developed a methodology that has allowed the bank lend to MSMEs with little or no collateral security. The Bank also provides non-financial support ranging from access-to-market initiatives to capacity-building seminars and clinics to MSMEs.

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Thu, 23 Jan 2014 11:00:29 +0000
DIAMOND UNVEILS NEW TV COMMERCIAL IN COMMEMORATION OF NIGERIA’S CENTENARY http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/521-diamond-unveils-new-tv-commercial-in-commemoration-of-nigeria-s-centenary http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/521-diamond-unveils-new-tv-commercial-in-commemoration-of-nigeria-s-centenary As a proudly Nigerian brand, leading bank, Diamond Bank PLC has unveiled a television commercial in celebration of the country’s centenary celebrations scheduled for 2014.

 

Diamond Bank which began business in 1991 has over 200 branches across Nigeria and presence in Francophone West Africa countries as well as in the United Kingdom. The Bank is adjudged the largest supporter of small businesses in Nigeria.

 

To watch the TV commercial, please go to http://youtu.be/L8y7su0NjbE

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Thu, 02 Jan 2014 05:48:12 +0000
DIAMOND BANK RECEIVES PCI DSS CERTIFICATION FOR IMPROVED CUSTOMER TRANSACTION SECURITY http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/518-diamond-bank-receives-pci-dss-certification-for-improved-customer-transaction-security http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/518-diamond-bank-receives-pci-dss-certification-for-improved-customer-transaction-security In a bid to improve overall customer experience and to foster an improved security framework for card-based transactions, leading customer-centric Bank, Diamond Bank PLC has received the PCI DSS certification for its debit and credit cards.

The Payment Card Industry Data Security Standard (PCI DSS) is a global security standard that helps to prevent card and data fraud by evaluating payment account data security and assessing an organization's network architecture, software design, security policies, procedures and protective practices. Diamond Bank received the certificate following the successful audit of the Bank by the PCI Security Standards Council earlier this year.

Expressing the Bank’s delight on the certification by the PCI Security Standards Council, Mrs. Ayona Trimnell, Head, Corporate Communications of the Bank said the Bank was pleased to receive the certificate after the rigorous audit exercise.

According to Mrs. Trimnell, “The award of the PCI DSS certificate marks the end of a rigorous audit exercise that saw Control Case LLC, a United States based Qualified Security Assessor and one of the world's best Qualified Security Assessors validate the various frameworks we have put in place to ensure our customers carry out card-based transactions in a secured environment. We are pleased to receive this award as it further demonstrates our unrelenting drive to provide unparallel customer experience.”

The PCI requirements were developed by the PCI Security Standards Council, which includes the 5 major payment card issuers -MasterCard, Visa, American Express, Discover and JCB International -to help facilitate broad adoption of data security best practices worldwide.

“For us in Diamond, this certificate is not an end in itself as it will propel us to continuously evolve ways of not only satisfying our customers but exceeding their expectations. Now as always, Diamond customers can enjoy seamless, secured card-based transactions with our numerous credit and debit cards,” continued Mrs. Trimnell.

Diamond Bank is a market leader in the deployment of cutting edge technology in servicing its customers. It will be recalled that the Bank pioneered the online real-time banking with the Diamond Integrated Banking System (DIBS) in 1992. Diamond currently boasts of a bouquet of value adding propositions and services.

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Fri, 06 Dec 2013 13:25:28 +0000
Diamond Bank Rounds Off Financial Literacy Training for Artisans http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/517-diamond-bank-rounds-off-financial-literacy-training-for-artisans http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/517-diamond-bank-rounds-off-financial-literacy-training-for-artisans Diamond Bank Plc, a major player in commercial banking in Nigeria with a huge interest in Micro, Small and Medium Scale Enterprises (MSMEs) has successfully rounded off the first leg of its‘Financial Literacy Training for Artisans’ scheme. The scheme is a first-of-its-kind Corporate Sustainability Responsibility (CSR) initiative by a Nigerian Bank, and was organized in collaboration with the Lagos State government.

The training programme, which sought to provide artisans and small business owners with basic information on how to start, nurture and grow their businesses, commenced on Monday, December 2 and ran till Thursday, December 5, 2013 at different Skill Acquisition Centres across Lagos State.

Beneficiaries were enlightened on how to translate their skills into profitable businesses, register their businesses, raise capital, access loans from financial institutions and reach target markets. The training sessions were facilitated by personnel of Diamond Bank Plc as part of its Employee Volunteer Scheme (EVS).

Uzoma Dozie, Executive Director, Diamond Bank PLC, and one of the facilitators at the trainings, described the scheme as Diamond Bank’s way of giving back to society in a more impactful way.

He said, “Our area of concentration in banking is the MSME and this initiative is a way of further projecting that course. We feel a commitment to create more entrepreneurs and new businesses that will eventually partner with us in the nearest future to create a better economy for our country.”

Mrs. Ayona Trimnell, Head, Corporate Communications at Diamond Bank, who was also a facilitator, stated that the scheme is a continuation of the bank’s bid to support and grow MSMEs in Nigeria, an area in which Diamond Bank is a clear leader.

She said, “This initiative is a part of our CSR thrust and a continuation of our bid to increase financial and non-financial offerings in support of MSMEs in Nigeria. We recognize the fact that the jobs are no longer out there and that the answer to this situation is entrepreneurship which is what we are here to encourage through this scheme.”

Beneficiaries at the different Skill Acquisition Centres where the training were held, expressed gratitude to Diamond Bank and affirmed that they had learnt a lot from the sessions.

Michael Johnson Ikeni, a beneficiary at the Anthony Village Skill Acquisition Centre is into Events Management. He confessed that his initial orientation and perspective about his business is already changing as a result of the things he had learned from the training.

Ikeni said: “Initially when we were told that some people were coming I did not want to stay because I thought it would be a waste of time. But I thank God I stayed back. Now I’m already having a change of perspective towards my business, because I have learnt a lot of new things that will definitely impact on my business”. He expressed the hope that other corporate organisations will take a cue from this initiative of Diamond Bank.

Mrs. Trimnell, who noted that many of the participants were university and polytechnic graduates, also disclosed that the scheme is not a one-off project but will be taken to other locations in the nearest future.

Over the years Diamond Bank has continued to blaze the trail in supporting MSMEs in Nigeria, through several empowerment programmes. This has won both local and international recognition for the Bank.

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Fri, 06 Dec 2013 13:20:55 +0000
DIAMOND BANK RECEIVES FINANCIAL INSTITUTION OF THE YEAR AWARD http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/516-diamond-bank-receives-financial-institution-of-the-year-award http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/516-diamond-bank-receives-financial-institution-of-the-year-award Diamond Bank Plc, a leading commercial Bank in the country has received the financial institution of the year award from the Petroleum Technology Association of Nigeria (PETAN).

The award which was presented by the association during the recent 2013 PETAN Industry Achievement Awards in Lagos was in recognition of Diamond Bank’s support for various indigenous Oil and Gas companies in the country.

PETAN is a non-profit organization whose members are Nigerian Oil Service Companies operating in the Upstream and Downstream technical services sectors of the Nigerian Oil and Gas Industry. Top on its agenda is to promote the domestication of petroleum technology by striving for fair and extensive patronage of the efficient and competitive indigenous Nigerian Oilfield Service companies.

According to Mr. Emeka Ene, Chairman of PETAN, Diamond Bank’s award as the financial institution of the year was an unprecedented feat which is a testimony to its funding support to local companies.

Ene noted that after a survey of all the commercial banks in the country, Diamond Bank emerged as the most consistent bank in the support of indigenous companies in the oil and gas sector of the economy.

Speaking to newsmen at the event, the Group Managing Director/Chief Executive Officer, Diamond Bank Plc, Dr. Alex Otti, represented by Head, Infrastructure and Transport, Diamond Bank Plc, Mr. Ehianeta Ebhohimhen, ascribed the award to the Bank’s well defined operating strategy, the commitment of the employees and adherence to values that include hardwork, discipline, a passion for excellence and a service focused culture.

Otti noted that the award was a further demonstration of the Bank’s commitment to grow the economy and it is positive the Nigerian public appreciates the Bank’s activities.

He also expressed his deep appreciation for the recognition and pledged his organization’s continued support for the local content initiative.

Also, Head Energy, Diamond Bank Plc, Mr. Luqman Agboola, said the Bank has done a lot to support the Nigeria indigenous companies in the Oil and Gas sector.

“As a matter of fact, indigenous companies account for 90 per cent of our loan portfolio in Diamond. One thing that sets us apart in Diamond is that we have the people that understand the industry, and because of that we crave to add value to the economy. Winning the award shows that members of PETAN appreciate what we were doing to support the oil and gas industry. We are excited at receiving this award and we will continue to do more do develop our Oil and Gas industry in the future,” he said.

It will also be recalled that Diamond Bank has won the award of the Best Oil and Gas Investment Company in Africa by World Finance Magazine for the second year in a row.

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aoshilaja@diamondbank.com (Adewunmi Oshilaja) Mon, 02 Dec 2013 13:34:52 +0000
DIAMOND BANK LEVERAGES INNOVATIVE PRODUCTS TO POST N25.62BN PBT FOR Q3 2013 http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/514-diamond-bank-leverages-innovative-products-to-post-n25-62bn-pbt-for-q3-2013 http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/514-diamond-bank-leverages-innovative-products-to-post-n25-62bn-pbt-for-q3-2013 Diamond Bank PLC has announced its 2013 Quarter 3 results, reporting a 10% growth in profit before tax when compared to the corresponding period of 2012. The bank posted a profit before tax of N25.6 billion.

In a statement released to newsmen from its corporate head office in Lagos, the Group Managing Director and Chief Executive Officer of the Bank, Dr. Alex Otti, stated that the bank was delighted by the positive results as it demonstrated sustainable growth in its business. He added that the impressive figures were driven mainly by the wide acceptance of the Bank’s products.

According to Dr Otti, “We at Diamond Bank are pleased to report continued success in implementing our strategy across the group as demonstrated by sustained growth in our balance sheet and profitability. Our innovative product offerings have continued to gain traction and availed the Bank access to a larger portion of the un(der)banked population, with total deposits from customers increasing 17% from our December 2012 levels.”

Diamond Bank’s Q3 2013 results show improvement in various areas of the group balance sheet for the first nine months of the year with total assets increasing by 17% to N1.3 trillion; loans and advances to customers increasing by 17% to N681.8 billion; and a 9% decline in non-performing loans ratio amongst others.

 

It will be recalled that in the course of the year the bank embarked on a number of initiatives in a bid to consolidate its market leadership in the retail banking space and further improve on its performance. These include the launch of the Agency Banking model – the BETA product, in partnership with Women’s World Banking (WWB); the launch of a dedicated proposition targeted at secondary and primary schools –the Diamond School Xpress Proposition; and the signing of a Memorandum of Understanding with a leading telecoms services operator for the launch of a hybrid bank account –the Diamond Y’ello Account.

 

“We are delighted by these positive results and the achievement of sustainable growth in our business. Our sound risk management practices combined with the alignment of the Bank's service, control and other support functions have facilitated excellent service delivery across our market segments and positioned Diamond Bank to continue delivering sustainable returns at acceptable risk levels going forward,” concluded Dr. Otti.

Diamond Bank Plc is one of Nigeria’s leading banks, providing financial services to corporate and individual customers across Nigeria, West Africa and the United Kingdom.

 

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aaderibigbe-banzi@diamondbank.com (Adebowale Aderibigbe-Banzi) Wed, 30 Oct 2013 08:35:11 +0000
DIAMOND BANK PLC ANNOUNCES GROWTH IN OPERATING INCOME http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/484-diamond-bank-plc-announces-growth-in-operating-income http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/484-diamond-bank-plc-announces-growth-in-operating-income Diamond Bank remains on track to deliver superior returns to Shareholders at year end with an impressive H1 result after declaring a profit before tax of N17.6 billion- an increase of 14% from N15.4 billion in June 2012.

 This is reported in the Bank’s Unaudited H1 Results for 2013 prepared in accordance to the International Financial Reporting Standards (IFRS), released to the Nigerian Stock Exchange (NSE) and made available to financial correspondents in Lagos, Nigeria.

 Speaking from the Bank’s Corporate Head Office in Lagos, Dr. Alex Otti, Group Managing Director/CEO of Diamond Bank commented, “We are proud of the latest set of results which underline the sustainable financial robustness we have achieved following our consistent growth and overall balance sheet efficiency.”

A closer review of the Profit in the period under review, Diamond Bank recorded an operating income of N57.2 billion in H1 of 2013 compared to N44.5 billion reported in the same period of year 2012.

Similarly, interest income of the Bank rose by 35% in the H1 period which ended June 30, 2013 as Diamond Bank posted N70.1 billion compared to N52.1 billion in the corresponding period of 2012.

According to Dr. Otti, “Our innovative and customer focused services gives us access to a faster growing share of Nigeria’s newly emerging bankable population, while maintaining our strong net interest margin in an increasingly competitive environment.”

The Bank showed good appetite in funding the real sector with loans and advances to customers going up by 7% to N624.5 billion as against N585.2 billion in December 2012.

 Total Assets of the Bank now stand at N1.3 trillion up 13% from N1.2 trillion in December 2012, while deposits from customers rose to N1.03 trillion up 13% from N910 billion in December 2012.

“With a strong Retail product innovation strategy showing positive results as well as consistent sound risk management practices, Diamond Bank is firmly positioned to continue delivering sustainable returns in 2013 and beyond.” concludes Dr. Otti.

Diamond Bank Plc, is one of Nigeria’s foremost banks, providing comprehensive banking and other financial services to Corporate and individual customers across Nigeria, West Africa and the United Kingdom.

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aaderibigbe-banzi@diamondbank.com (Adebowale Aderibigbe-Banzi) Wed, 31 Jul 2013 17:11:18 +0000
DIAMOND BANK- “THE LARGEST EMPLOYER OF TALENT IN THE NIGERIAN BANKING INDUSTRY” http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/482-diamond-bank-the-largest-employer-of-talent-in-the-nigerian-banking-industry http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/482-diamond-bank-the-largest-employer-of-talent-in-the-nigerian-banking-industry
Diamond Bank has recently concluded its Annual Performance Review exercise. This is in line with global best practices where institutions periodically review their human resource talent as a means of driving their corporate growth agenda.


According to Mrs. Ayona Trimnell, Head, Corporate Communications, Diamond Bank PLC, “The recent performance review is an annual exercise for us at Diamond as we seek to continuously recognize and reward members of staff who have excelled. We believe that the Bank’s performance is linked to the quality of the staff it retains. As such, in the last few days, 677 staff members who have excelled have been promoted, while 61 members of staff, who have consistently performed poorly over the last three years, have been disengaged.”


The statement also indicates that the performance review exercise is hinged on the Bank’s Enterprise Assessment Framework called the Balanced Score Card. The framework spells out carefully itemized parameters with which members of staff are measured and these parameters are communicated to all staff at the beginning of each financial year.


With well over 1,600 new recruits in the last financial year, of which 1,352 are fresh graduates from reputable Universities around the country, Diamond Bank is the largest employer of Talent in the Nigerian Banking industry. The Bank boasts of a robust personnel engagement strategy that helps it to continually attract and retain the best talent in the industry. This is in fulfillment of its corporate vision of becoming a leading financial institution, with the best people, providing unequalled customer experience and delivering superior shareholder value.

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adcsolutions@diamondbank.com (Super User) Fri, 12 Jul 2013 13:01:10 +0000
DIAMOND BANK LAUNCHES NEW CAMPAIGN http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/480-diamond-bank-launches-new-campaign http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/480-diamond-bank-launches-new-campaign Diamond Bank is set to break its new campaign to undoubtedly claim its position as one of the leading financial institutions in Nigeria- providing customers with tangible financial solutions tailored specifically to suit their lifestyle.

Following a successful brand refresh in November 2012 where the Brand saw changes in its colours moving away from the monosyllabic greys and dark tones to more vibrant colours, the motive was to make the brand more approachable in line with its’ positioning as a leading Retail bank in Nigeria.

For more than twenty years, Diamond Bank has built equity as a strong reliable salient bank. Relatively unscathed by the upheavals of the Nigerian Banking sector in the 1990s and more recently, the Bank is now considered one of the foremost banks in lending to customers, SME banking and corporate banking especially in the oil and gas sector.

In a highly delicate and competitive banking environment with little or no product differentiation and where products are easily replicated, Banks must seek to clearly define their role and product positioning. Diamond Bank’s new media campaign “you need a new bank,” reminds customers of the power of choice especially when it comes to choosing a bank. As customers are becoming more discerning of banking products and services, the Bank is putting a stake in the ground- armed with a portfolio of products and technology to produce faster and more efficient services, the question becomes ‘’why do you stay with a Bank that does not meet your needs?” said Ayona Trimnell, Head Corporate Communications, Diamond Bank Plc.

The concept for the new campaign has been developed in collaboration with X3treme Media a young dynamic Agency based in Lagos. The message, albeit intently challenging, pulls in humour and tongue in cheek dialogue to drive the message to the customer.

The campaign will be carried across all touch points- print, radio, outdoor and television and will be aired Monday June 17th 2013.

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adcsolutions@diamondbank.com (Super User) Tue, 02 Jul 2013 18:29:38 +0000
DIAMOND BANK LAUNCHES BRANCHLESS BANKING ON BANKONE http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/479-diamond-bank-launches-branchless-banking-on-bankone http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/479-diamond-bank-launches-branchless-banking-on-bankone London-listed Nigerian banking behemoth Diamond Bank has intensified its focus on delivering financial services to the under-banked in the informal sector by launching its "branchless banking" service on BankOne, a mobile banking application which allows instant account opening and registration. The application is designed and developed by AppZone, a fast-growing technology company.

The integration of the branchless banking on the BankOne platform, will allow Diamond Bank acquire and easily migrate all mass market accounts and ensure customers get quality service.

BankOne shall be deployed alongside Diamond Bank’s core banking platform to ensure an up-to-date record of customers using the new product plus a robust central accounting and reporting system.

The pilot phase of this value-added service named ‘Beta Friends’ will involve the recruitment and deployment of agents to the streets of Lagos to push the new product. These agents will be armed with mobile phones equipped with the BankOne mobile banking application which will enable them to open bank accounts on the field and also issue instant debit cards.
 
This unique banking product is tailored to provide target customers with "branchless" access to basic financial services via more than 10,000 ATMs nationwide as well as through numerous mobile Agents.
A range of value added services including Mobile Banking, Inter-Bank transfers, and bills payments are also available to customers.

To facilitate this, Appzone has integrated the Bankone system into Diamond Bank’s core banking platform to enable real-time visibility of transactions as they occur on customer accounts and integration into Interswitch's system to facilitate ATM access.

The partnership between Diamond Bank and Appzone will lead to a significant surge in the number of accounts created for customers in the informal sector which in turn shall contribute to the Bank’s target of delivering quality financial services to customers in this sector of the economy.

BankOne is the leading core-banking and electronic payments platform for microfinance and primary mortgage banks.

BankOne's parent company AppZone has partnerships with five commercial banks and two financial switches in Nigeria.

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adcsolutions@diamondbank.com (Super User) Tue, 02 Jul 2013 18:16:43 +0000
Diamond Bank and Inspire Africa discover Naija Diamonds http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/248-diamond-bank-and-inspire-africa-discover-naija-diamonds http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/248-diamond-bank-and-inspire-africa-discover-naija-diamonds As Nigeria turns 50, Diamond Bank and Inspire Africa have rolled out the drums to celebrate the true Nigerian Spirit by unveiling Naija Diamonds; a 6-part TV documentary series.

According to a statement issued by Mo Abudu; the founder of Inspire Africa and Executive Producer of hit talk-show Moments with Mo, Naija Diamonds is created to showcase and celebrate 36 “unsung heroes and world class Nigerians whose lifestyles and values serve as a standard for generations to come.

Naija Diamonds will bring to limelight everyday people who have done significant things to change and challenge their environment positively, those who have come up with creative solutions to manage and change their situations. They are the unsung heroes in our mist. You can find feel or notice the impact of their actions, their initiatives, their solutions. But you can hardly find them on the list of achievers,” she stated.

Mo further stated that selection would be via a thorough screening of nominations made by the general public. Nominations are open to undiscovered Nigerians who have by their own tenacity and determination, accomplished something or have been catalysts for outstanding feats that make them worthy of celebration.

Nominees must be worthy Nigerians with no gender, ethnic, religious or other restrictions. Nominations open on May 30 and closes June 27, 2010 while nomination forms are available at www.naijadiamonds.com. Naija Diamonds will be on air on major satellite and terrestrial TV stations; every Friday for 6 weeks, starting from October 1, 2010.

Speaking on Diamond Bank’s involvement in the project, the Head Corporate Communications of the bank; Charles Udoh noted that Naija Diamonds is part of the bank’s commitment towards giving unsung Nigerian heroes their pride of place in the annals of the country’s history. According to Udoh, the project is another platform through which Diamond Bank gives back to the society.

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 18:02:08 +0000
Diamond Bank Crashes Retail Loan Rates http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/246-diamond-bank-crashes-retail-loan-rates http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/246-diamond-bank-crashes-retail-loan-rates As part of its initiatives to ease the effects of the global credit crunch and boost consumer lending, Diamond Bank, one of Nigeria’s leading banks, is once more blazing the trail as it has crashed all its retail lending rates. In addition, the Bank is launching Nigerian’s first ever fixed mortgage rate.

Speaking to journalists in Lagos, the Head, Corporate Communications, Diamond Bank, Charles Udoh revealed that the Bank has dropped interest rates on all retail lending products by up to 5% per annum, adding that the rates apply to all new lending from 1st April, 2010. They will also apply to all existing borrowing that is not delinquent. All delinquent debt or customers in default will stay on their existing rate until the accounts are regularized.

“As part of our contributions towards boosting the growth and development of the Nigerian economy, especially at this critical period of recession, we are expanding our lending window. We have even moved a notch up in this initiative by crashing all our retail lending rates. Doing this, we strongly believe will create access to facilities required to drive the economy” said Mr. Udoh.

Among the affected consumer products, according to Udoh, are Mortgages loans now pegged at 20% variable with 2% one off fee (no annual fees) and the usual security and insurance requirements; auto Loans which is now 22% variable with 2.5% one off fees (includes free death cover); Personal Loans and Leases which he said is now 23% variable with 2.5% one off fees (includes free death cover); while the Macro, Small, Medium Enterprises (MSME) that are (secured)- revolving credit and asset purchase loans is 24% with 2.5% one off fee (includes free death cover on nominated key person); MSME (unsecured) - revolving credit and asset purchase loans is 25% plus 2.5% one-off fee (includes free death cover on nominated key person).

“We are fully aware ofthe challenges many Nigerians are passing through in acquiring their dream homes, that is why we are setting the pace in the mortgage industry with the introduction of our new Fixed Rate Mortgage pegged at 18.75% fixed until 30th September 2011. It comes with a fee of N125,000 plus the normal 2% fee in addition to security and insurance arrangements. This is the first of its kind in Nigeria,” he stated.

Mr. Udoh stated that Diamond Bank is proud to offer a wide range of consumer loan products for a variety of purposes. “We are leading the industry in driving down rates. We are open for business and keen to lend. We are innovative (Nigeria’s first ever FIXED RATE MORTGAGE).  We are being fair to all new customers and all existing borrower. We care about our customers. Whether you are ready for a new car, the pleasure a new house can bring, to take that dream vacation you have always wanted or to consolidate your existing debt into a more manageable monthly payment, we can help make your dreams and plans a reality. Most importantly, applying for loan is now easy and convenient,” he said.

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:59:52 +0000
Diamond Bank Honors Staff at Long Service Award Night http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/244-diamond-bank-honors-staff-at-long-service-award-night http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/244-diamond-bank-honors-staff-at-long-service-award-night As part of its culture of appreciating staff contributions to its rapid growth, Diamond Bank Plc recently in Lagos, rewarded some of its staff that have spent 10 years and above in service to the Bank.

Speaking at the annual Award Night, the Group Managing Director of Diamond Bank Plc, Mr. Emeka Onwuka stated that the Bank has a culture of rewarding excellence and loyalty. The recognition of performance and long service is a vital aspect of our corporate strategies.  Clearly, we could not have reached the height we have attained today if we did not have the crop of staff with the capacity and the desire to serve and serve well at all levels, he stated.

He urged the younger staff to emulate the old ones, saying that long serving staff have wealth of knowledge, skills and institutional memory to handle most tasks. The long serving staff we are celebrating today have deep knowledge and understanding of the Bank's culture and operational dynamics which the younger ones can easily learn from. Many of them today remained loyal to the Brand even during trying times. To them, I want to offer my sincere congratulations and to the young ones, I will urge you to emulate the long serving staff, he said

Onwuka stated that Diamond Bank had recently embarked on several in-house initiatives, aimed at making it an employer of choice.  Being an employer of choice is all about recognizing and rewarding staff for their outstanding contributions to an organization. For us in Diamond Bank, we seek to continually manage the aspirations of our employees through adoption of best practices in our Human Capital Management. And to retain some of the best talents in the industry, we have also introduced some measures such as competitive wage structure, performance linked incentive, employee development programmes, he said

In addition, Onwuka stated that Diamond Bank tries as much as possible to create an enabling environment which inspires an innovative, competent and loyal workforce. At Diamond Bank, listening to our employees through various feedback mechanisms and acting upon them have been a key part of our culture. And I can assure you that we will continue to strengthen our workforce competencies, reward performance and continue to create  professional development opportunities, job flexibility as well as defined career paths that nurture an employees career growth he stated.

It could be recalled that Diamond Bank had in furtherance to its strategy of being the employer of choice, recently reviewed its working hours, pegging all official works to close by 7.pm to enable its staff join their respective families before night falls. This initiative was applauded both in the Bank and the industry in general.

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:58:11 +0000
DG National Lottery Regulatory Commission Endorses DIAMOND SAVINGSXTRA's Draw Process http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/241-dg-national-lottery-regulatory-commission-endorses-diamond-savingsxtra-s-draw-process http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/241-dg-national-lottery-regulatory-commission-endorses-diamond-savingsxtra-s-draw-process The transparency and efficiency embedded in the Diamond Bank’s Savingsxtra draw process have been commended by the National Lottery Regulatory Commission.
Speaking at the December Surprise Draw of the Savingsxtra reward campaign held in Lagos on December 30, 2009, the Director General of the commission, Mr. Peter Ighoh, who was represented by the Deputy Director (Regulation/Monitoring), Prince Emmanuel Jeminiwa, stated that the commission was impressed by the level of transparency and efficiency with which winners emerged in the draw.
“Having witnessed today’s draw, we can categorically say that the draw process was transparent, rigorous and efficient. We have seen the sincerity of purpose in what the Bank is doing and its promise to customers, fulfilled”, he said.
He further maintained that part of the commission’s responsibility is to ensure that draws follow the guidelines as stipulated by the law. Adding that having witnessed the Bank’s draw process, he can say that it followed the rules.
“We will continue to support those who do the right things and as for Diamond Bank, we will advise your customers to continue to participate in the draws as there are equal opportunities for each of them. It is not easy to put together over 7million tickets, analyze them and electronically generate winners randomly”, he stated.
Also speaking during the draw was John Anyanwu, an auditor representing KPMG, who was there to oversee all the proceedings at the draw, stated that since the inception of the draw in 2008, Diamond Bank had remained consistent with the outlined rules and guidelines for the draw. “There is absolute transparency in the draws and I can assure everybody that all the results from the draws so far have remained credible and transparent. I can equally testify that the draw held here today is in line with all the laid down procedures guiding this campaign.  All account holders of the Bank who are eligible to participate in this draw participated, and no customer was given undue advantage to emerge as a winner. All winners emerged from a free and fair draw process today,” he stated.  
For a customer to qualify to participate in Diamond Banks SavingsXtra campaign a customer is required to have a minimum balance of N5, 000 in their SavingsXtra account to stand a chance of winning. New customers, however, will be required to open a SavingsXtra account and start maintaining a minimum balance of N5, 000 until the qualifying date for the draw which is the last day of every month.
The SavingsXtra “Salary for Life” Season 2 campaign is a continuation of the Banks SavingsXtra campaign it launched last year to reward its customers. The Bank made history in the first phase of the campaign when it gave away a whooping sum of N50 million to two of its customers as the star prize its campaign.
The SavingsXtra Season 2 is another ground breaking rewards scheme in which Diamond Bank pledged to pay a total of 24 lucky customers a sum of N100, 000 every month for the next 20 years.

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:52:14 +0000
Diamond Bank Celebrates Its Customers http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/235-diamond-bank-celebrates-its-customers http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/235-diamond-bank-celebrates-its-customers The Group Managing Director of Diamond Bank Plc, Emeka Onwuka has reiterated the Bank's commitment in delivering quality service to its numerous customers at any point in time, stressing that the Customer is the King.

Speaking through the Executive Director, Technology and Customer Service, Oladele Akinyemi who represented him at the flag off of the 2009 International Customer Week at the Bank's Head Office in Lagos, Mr. Onwuka stated that Diamond Bank opens a vista of history as it joins other service oriented organizations world-wide in celebrating and recognizing the importance of the Customer to the survival of any organization.

At Diamond Bank, superior service delivery has; over the years, remained the fulcrum of our business strategy. Indeed, it is the only way we can seek to differentiate ourselves in the market place. Our brand is built essentially around proving excellent customer service that is equal to none, he stated.

Onwuka noted that at Diamond Bank, staff are encouraged to go the extra mile to ensure customer satisfaction which explains the myriad of life changing products that Bank has introduced into the market to touch its customers in a variety of ways.

The introduction of our life changing products in the market and our recent expansion schemes are meant to strengthen our partnership with our customers so they could excel in their respective businesses, especially in today's fiercely competitive business environment. Clearly, these initiatives continue to enhance our quality service delivery, and at the same time enables us pay adequate attention to the needs of our customers in different market segments, he stated.

He assured customers of the Bank's continued commitment to deliver quality services to them in an efficient, seamless and cost-effective manner by leveraging on the latest technology, adding that wherever, whenever and whatever services they require from Diamond Bank, he is assuring that they will get it.

Onwuka also thanked customers for choosing Diamond Bank and promised that the Bank will remain resolute in proving tailor-made financial services that best meet their banking needs.

It could be recalled that Diamond had in 2008 introduced SavingsXtra Account, a product solely designed as the Bank's strategy of rewarding its customers for their loyalty. Since the inception of the draw in July, 2008, over 200 customers have won various prizes cutting across cash, cars, Plasma TVs, Motorcycles, generators and above all, Salary 4life etc.  

The reward system expresses Diamond Bank's commitment to enhancing the life style of its customers and the Bank's resolve to rewarding customer loyalty. The Bank has consistently rolled out creative and innovative products and services with positive effects on customer experience.

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:46:44 +0000
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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:35:52 +0000
Diamond Bank grows earnings to N724 billion in 9 months http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/231-diamond-bank-grows-earnings-to-n724-billion-in-9-months http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/231-diamond-bank-grows-earnings-to-n724-billion-in-9-months Diamond Bank has again reaffirmed its position as one of the top players in the premier league of banks in Nigeria with its latest financial report card for the first 9 months of its 2008 / 2009 financial year showing very healthy growth on all indices.

According to the profit and loss statement for the period ended 31 January, 2009, made public by the Bank, its gross earnings grew by 74% from N41.7 billion in the corresponding period of the last year to N72.4 billion. The bank also recorded a profit before tax of N19.8 billion for this 9 months period. This is a 65% increase in profits from N11.966 billion recorded in the corresponding period last year.

Going by these results, industry watchers have projected that the bank; which was recently voted Nigeria's Bank of the year at the annual ThisDay awards, would exceed its performance projections for the full year and continue the trend of rewarding its investors with both dividend and bonus payment annually. According to Bank's Group Managing Director and Chief Executive, Mr. Emeka Onwuka, this impressive scorecard is testimony to the bank's steadfast commitment to quality service delivery, professionalism, transparency and accountability. He also noted these factors have also been the secret of the bank's recent successful forays into Francophone West Africa.

Diamond Bank has over the years maintained a preeminent position as a major player in the Nigerian financial service industry through its consistent remarkable achievements. Only last year, Diamond Bank was voted The Most Improved Bank of the Year at the Annual ThisDay Award Festival. The Bank had earlier emerged as the Best Bank in Mergers and Acquisition following the seamless takeover and integration of former Lion Bank in 2005, adjudged to be the 1st acquisition consummated by any bank in Nigeria during the Banking Consolidation.

Renowned for its innovative and pace-setting role in the Nigerian financial landscape, Diamond Bank; in 2008, became the first African Bank to be listed on the Professional Securities Market (PSM) of the London Stock Exchange (LSE) following the official listing of its $500million Global Depositary Receipts (GDRs). The Bank is also the first Nigerian financial institution to venture into Francophone West Africa with the establishment of a subsidiary in Republic of Benin.

As part of its universal banking strategy, Diamond Bank has investments in promising financial services sub-sectors, including insurance, mortgages, and pension fund custodianship. Over the years, these have improved the growth, earning mix, profitability, and investor value of the Bank. Similarly, the bank has remained firmly focused on achieving its mission of providing world class solutions to its customers. This is evident in the several innovative products the bank has consistently churned out.


For more information, contact
Head, Corporate Communications
+234-1-7741215

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:28:45 +0000
Diamond Bank deepens interest in Oil and Gas Industry http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/229-diamond-bank-deepens-interest-in-oil-and-gas-industry http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/229-diamond-bank-deepens-interest-in-oil-and-gas-industry Diamond Bank Plc has reaffirmed its commitment and support for the Oil & Gas industry in the country as it actively participates as one of the sponsors of the 9th Nigeria Oil & Gas (NOG9) Exhibition and Conference, holding at the International Conference Centre Abuja, starting from February 23-26, 2009.

In a statement, the Bank disclosed that sponsoring the conference is part of its contribution to the development of local content competencies amongst the indigenous oil and gas operators. In addition, it is also putting up a stand to show case its strength in financing specialized projects in the industry.

NOG9 is the premier industry event for professionals, service industries and suppliers to gather and discuss common issues of special mineral development. Technological innovations and forums on economic, social, and political aspects of resource development and environmental protection have been the mainstay of this August gathering.

The statement further revealed that the conference will afford Diamond Bank the opportunity to exhibit its products that are beneficial to participants with a view to creating awareness and assisting the development of Nigerian oil & gas industry especially the local content initiative which is very technical as well as capital intensive. It will also serve as a forum for the Bank to identify constraints that Nigerian contractors face, which are militating against their competitive and active participation in the oil and gas sector.

"Diamond Bank is poised to partner with relevant operators and parastatals within the Oil and Gas industry to meet its set objectives for the sector. To this end, Diamond Bank is showcasing its numerous products tailored to suite the needs of operators in the industry. These products mainly focus on Contract Financing, Loans and Mortgage facilities," the statement said

One of such products is Diamond VISA Credit Card which is the only Credit card in the Nigeria that accepts ONE currency- Naira, for the payment of transactions both within and outside the country.

For Diamond Bank, customer satisfaction and convenient service offering remains the primary reason for business, hence the Bank’s promise to continuously solve customers’ business problems with an absolute commitment to quality.

It could be recalled that Diamond Bank Plc was early in the year, voted the Nigerian Bank of the Year, 2008, at the ThisDay Awards, in recognition of its quality customer service delivery maintained over the years and numerous tailor-made products aimed at meeting the financial needs of its customers.

For more information, contact
Head, Corporate Communications
01-7741215

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:26:59 +0000
Diamond Bank committed to Quality Service Delivery says GMD http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/227-diamond-bank-committed-to-quality-service-delivery-says-gmd http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/227-diamond-bank-committed-to-quality-service-delivery-says-gmd The Group Managing Director and Chief Executive Officer of Diamond Bank Plc, Mr. Emeka Onwuka has reassured of the Bank's commitment to remain customer-centric in its financial service delivery, as he urged its numerous customers to take advantage of the Bank's life changing bouquet of products

Speaking at the Bank's Customer Forum which held during the weekend in Ibadan, Oyo State capital, Mr. Onwuka hinted that the increase in the Bank's product offerings and its aggressive expansion scheme are practical demonstration of the Bank's appreciation of the need to provide superb financial services to its customers, especially with the reality of the present world economic melt down.

"The introduction of our life changing products in the market and our recent expansion schemes are meant to strengthen our partnership with our customers so they could excel in their respective businesses, more especially in today's fiercely competitive business environment. Clearly, these initiatives will enhance our quality service delivery, as well as, enable us pay adequate attention to the needs of our customers in different market segments," he stated.

Emeka assured customers of the Bank's full preparation to deliver quality services to them in an efficient, seamless and cost-effective manner by leveraging latest technology, adding that wherever, whenever and whatever services they require from Diamond Bank, he is assuring that they will get it.

"We first came to Ibadan about ten years ago and since then, we have commissioned three branches and as I speak to you, we have approval to do more. All these are geared towards bringing banking services closer to your doors. In addition, we will not rest on our oars to ensure that our customers remain at the centre of our business. For us, our customers are our kings and we will continue to revere them at all times," he said.

Onwuka also thanked the customers for choosing Diamond Bank and promised that the Bank will remain resolute in proving tailor-made financial services that best meet their banking needs.

Diamond Bank remains one of the strongest Banks in the country and its core strengths lies in its unique SME business model which has made the Bank a leading bank in small to medium size enterprise market. The Bank's proven market track record gives it competitive advantage in understanding clients' needs and risk profiles in the diverse Micro, Small and Medium scale Enterprises (MSMEs) sector. Another key strength of the Bank lies in the solid Diamond Brand which is associated with integrity, professionalism and high ethical standards. As a matter of fact, this culture has been imprinted on the organization by the founding fathers of the Bank. The Bank is also blessed with exceptional, experienced and cohesive management team with a clear strategic objective to deliver profitable growth to stakeholders.

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:25:05 +0000
Diamond Bank gives away 14 more prizes in her monthly SavingsXtra Promo http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/225-diamond-bank-gives-away-14-more-prizes-in-her-monthly-savingsxtra-promo http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/225-diamond-bank-gives-away-14-more-prizes-in-her-monthly-savingsxtra-promo As part of its effort in encouraging saving culture in the country and as well reward its loyal customers, 14 new winners emerged from Diamond Bank's monthly SavingsXtra promo draw.

According to a statement by the Bank, the draw which was conducted under the supervision of KPMG took place at the Bank's WAAST Avenue branch, Owerri, Imo state, with customers and staff of the Bank in attendance. Kate Ezeifedi, a trader at Alaba International Market, Lagos emerged the winner of the star prize of a brand new Toyota Yaris car.

In the same vein, Mr. Bafa Attahiru Magaji, a Lecturer at the Federal College of Education Kano, won the second star prize of N1 million cash. Also on the winners list are 12 other customers that won various prizes such as LCD TV's, generators, Air Conditioners and music iPods.

Addressing the audience, Regional Manager-South East, Mr. Charles Nkata, explained that the idea behind the Savingsxtra promo is to encourage Nigerians to develop a culture of saving for the rainy day which could also be used for investments. "It's the only way we can secure our future. What one can achieve with money well saved cannot be overemphasized. This promotion is all about appreciating our customers and also saying thank you to all of them for their loyalty. We would like to use this opportunity to assure all our customers that this campaign has come to stay," he stated.

For a customer to qualify for the monthly national draws existing Savingsxtra account holders only need to maintain a minimum balance of N10, 000.00 stand a chance of winning. No documentation is required. New customers, however, will require to open a savingsxtra account and start maintaining the minimum balance until the qualifying date for the draw.

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:23:28 +0000
Diamond Bank donates 200 motocycles to Sokoto State Govt. http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/224-diamond-bank-donates-200-motocycles-to-sokoto-state-govt http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/224-diamond-bank-donates-200-motocycles-to-sokoto-state-govt As part of its corporate social responsibility strategy, Diamond Bank Plc has donated 200 units of motorcycles to the Sokoto State Government which is the Bank's support to the Poverty Alleviation Programme of the state government.

Speaking during the well attended presentation ceremony in Sokoto recently, the Governor of Sokoto State, Alhaji (Dr.) Aliyu Magatakarde Wammako, described the gesture from the Bank as a good example of Public/Private partnership, which is the strategy his lead administration has adopted for the socio-economic development of the state. According to the Wammako, "with this kind of attitude from banks, it will not take long to bring the much needed development and democratic dividends to the people of Sokoto State," he stated.

He further reiterated his earlier call that the private sector needs to form a partnership with the government of Sokoto state to ensure that rapid development is brought to the citizens of the State. "The government cannot carry the burden of development alone, so we are appealing to all stakeholders in the private sector to emulate this good gesture from Diamond Bank and contribute to the development efforts of the government to ensure that the desired level of development is attained in the state in the shortest possible time," he said.

Wammako revealed that the 200 units of motorcycles will go a long way to support his administration's Poverty Alleviation Programme, which he said has touched and transformed the lives of many people in the state who were before now unemployed.

"I will like to use this opportunity to thank Diamond Bank again for their untiring support towards the development of our state and my promise to Diamond Bank is that we shall put the motorcycles to good use," Wammako stated.

Also speaking during the ceremony, The Head, Business Banking Upcountry, Diamond Bank Mr. Victor Ezenwoko, said the gesture is in line with the Banks philosophy of building an enduring partnership with the state government in its bid to check the poverty level in the state of poverty through its poverty alleviation programme.

"We at Diamond Bank believe and buy into the government's plans to alleviate poverty amongst the people of Sokoto State through its poverty alleviation programme and we are committed to joining hands with the state government and its people to make this laudable objective programme a success."

He further stated that like other parts of the North, Sokoto state is a home to Diamond Bank, considering the age long relationship and businesses that have taken place between the state government on one hand and the people of the state on the other.

According to him, "The presentation of these motorcycles is also a continuation of our support to all the various developmental programmes of the state. Diamond Bank is also willing to do more, particularly in the area of agriculture and industrial development and we are set to partner with the government in these areas whenever they are ready to launch the programmes."

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 17:22:37 +0000
Diamond Bank appointed Primary Dealer/Market Maker for FGN Bonds http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/219-diamond-bank-appointed-primary-dealer-market-maker-for-fgn-bonds http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/219-diamond-bank-appointed-primary-dealer-market-maker-for-fgn-bonds The Federal Government of Nigeria (FGN) through the Debt Management Office (DMO) has given Diamond Bank Plc the nod to perform the functions of a Primary Dealer Market Maker (PDMM) in FGN Bonds.

Speaking at brief presentation ceremony held in his office in Abuja on Friday, June 12, 2009, the Director-General of Debt Management Office, Dr. Abraham Nwankwo, stated that the presentation exercise marks the final stage of the PDMM appointment process, meaning that the Bank has fulfilled the DMO's criteria for the purpose.

"Your appointment as PDMM is based on our expectation that you would be an active participant in both the primary and secondary markets, and that your activities will contribute to the attainment of the DMO's objectives which include, deepening the market, as well as, promoting efficiency and transparency in the market," he stated.

Dr. Nwankwo further stated that DMO believes that Diamond Bank Plc will make use of its large customer base and branch network to provide the much needed depth to the FGN Bond investor base and most importantly, support the DMO's mission to develop the domestic bond market through initiatives such as the introduction of new products.

In his acceptance speech, the Executive Director/Chief Financial Officer, Diamond Bank Plc, Mr. Ohis Ohiwerei who represented the Bank stated that Diamond Bank feels honored to be licensed as a PDMM. "It is a very important day for us in the Bank and we appreciate it. I can assure you that the trust that DMO reposed on us will be rewarded. We are committed to the laudable ideals of DMO and the Federal Government of Nigeria and we will continue to support DMO's initiatives and products," he stated.

Ohiwerei further said that Diamond Bank will put its skills, experience and professionalism into use while transacting in the market. "We have what it takes to support the market and make it grow. We have the reach, capacity and technological muscle to drive the market. And I can tell you that this is apparently the best time to play in the market because it is a risk free investment and we will welcome Nigerians to take advantage of its potentials," he stated.

"In order to ensure that our customers and the general public enjoy the above benefits, Diamond bank has put in place structures that will facilitate our customers' participation at the FGN Bond auctions. Customers can equally dispose the instruments in the secondary market anytime through the bank's market making capability," he said.

He maintained that Bond markets play an important role in mobilizing capital investments that are critical for economic development in the country, adding that an efficient bond market will help promote economic growth and reduce the risk of financial crises.


The approval for Diamond Bank to participate in the market came after extensive review of the operations and technical ability of the Bank and its staff. The Bank leverages on its specialty as a Financial Services institution with expertise in trading government debt securities to get the approval.

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adcsolutions@diamondbank.com (Super User) Fri, 15 Feb 2013 15:23:36 +0000
Diamond Bank Collaborates with Lagos Black Heritage Festival to Reward Childrens Creative Talents http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/151-diamond-bank-collaborates-with-lagos-black-heritage-festival-to-reward-childrens-creative-talents http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/151-diamond-bank-collaborates-with-lagos-black-heritage-festival-to-reward-childrens-creative-talents Intent on supporting and growing the creative talents of the next generation, Diamond Bank Plc recently announced its collaboration with the Lagos Black Heritage Festival to sponsor the Vision of the Child Painting Competition. The Vision of the Child is one of the key events of this year's Lagos Black Heritage Festival which is running from April 2- 9, 2012.

According to a statement issued by the Head, Corporate Communications, Diamond Bank, Ms. Akpo Daniyan, Diamond Bank's decision to sponsor the Vision of the Child Painting Competition of the Lagos Black Heritage Festival was informed by the bank's commitment to capacity development, especially of the next generation.

Said Ms. Daniyan, Diamond Bank is proud to sponsor an initiative that celebrates children, promotes their creative development and empowers them to share their vision of their country.

The Paintings of the thirty Children who participated in the competition are currently being exhibited at Kongiâ's Harvest Gallery, Freedom Park, Lagos Island. The Exhibition would culminate in the selection of the winners who would receive cash and non-cash prizes at the awards and dinner nite for the Lagos Black Heritage Festival holding on April 8 at the Civic Centre in Victoria Island, Lagos.

It will be recalled that the painting competition was flagged off by Nobel Laureate, Prof. Wole Soyinka on March 17 2012 at a press conference at Freedom Park, Lagos Island. Also in attendance at the press conference were the Lagos State Commissioner for Culture and Intergovernmental Relations, Mr. Disu Holloway; and Executive Director, Diamond Bank, Mr. Uzoma Dozie.

Diamond Bank's sponsorship of the Vision of the Child Painting Competition of the Lagos Black Heritage Festival is one of the bank's sponsorships of activities that celebrate arts and culture in the country.

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adcsolutions@diamondbank.com (Super User) Tue, 29 Jan 2013 14:32:15 +0000
Diamond Bank and Visa Demonstrate Innovation in card designs http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/115-diamond-bank-and-visa-demonstrate-innovation-in-card-design http://www.diamondbank.com/index.php/component/content/article/63-news/press-releases/115-diamond-bank-and-visa-demonstrate-innovation-in-card-design Visa, one of the world's leading payment solution providers, has partnered with Diamond Bank Nigeria PLC to launch a premium card service to provide customers with increased credit card capabilities, convenience and rewards.

This offering brings the first diamond-embedded Visa card to Nigeria and the African continent. Aptly named the Visa Diamond Card, this card forms part of Diamond Bank's private banking proposition known as Diamond Privilege, a service that caters to the needs of high net worth individuals.

The exclusive Visa card, which is available to Privilege Banking clients by special invitation only, holds an authentic certified diamond which demonstrates the level of thought and detail that has gone into its design. The card was conceptualised to offer added value to Privilege Banking clients, allowing them to transact with ease whilst getting rewards in return.

Some of the benefits of the card include easy access to credit and higher limits for larger transactions, as well as a dedicated relationship manager to take care of their every need. As it is a card for Privilege Banking clients, the card offers a reward scheme that gives customers access to numerous airline lounges, free flights and upgrades with the bank's local and international airline partners.

Ms. Akpo Daniyan, Head of Corporate Communications for Diamond Bank, said: We named it the Diamond Card because true to its name, it has a real diamond in it. Our clients deserve the very best and so we wanted to do something special. Working with our partners, Secure ID and Visa, we added a real diamond stud and implanted the Diamond Bank name with real platinum. Our customers who already have this card tell us how proud they are to use it.

Ade Ashaye, Country Manager for Visa West Africa, said: We are very proud to partner with Diamond Bank on this exclusive card which is the first card in the market, and in Africa, to have a real diamond embedded. The card can be used at the point of sale, at ATMs and online with the added benefit of Verified by Visa security when transacting [online].

Speaking further on the partnership between Diamond Bank and Visa, Ms. Daniyan said: Our partnership with Visa is based on a mutually beneficial professional relationship. The bank prides itself on being an innovator in payments and retail banking. We find it refreshing to work with like- minded organizations such as Visa, who are there to provide expert support and advice on projects such as this one.

Diamond Bank issued one of the first truly international revolving Visa credit cards in Nigeria and has continued to innovate since then. This card is just another great example of the array of unique products and services the bank offers its customers.

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adcsolutions@diamondbank.com (Super User) Fri, 11 Jan 2013 09:28:51 +0000