Augusto & Co, a well respected locating rating agency, in October 2008 assigned Diamond Bank Plc a rating of A+. This was better than the A rating assigned the bank in the previous year.

The A+ rating was based on good domestic franchise, good liquidity, strong capitalization and acceptable asset quality. The rating also reflects its satisfactory profitability and its stable, conservative and experienced management team. More so, the bank's profitability is satisfactory by industry standards; the capitalization is strong with a Base ratio of 29%. All aforementioned, make the Bank to be ranked among the top ten banks in the country on the basis of its core capital of N116.9 billion as at 30 April, 2008.

The Bank's total balance sheets and contingents liabilities stood at N743.7 as at 30 April, 2008, this represents an increase of 83% over the previous year. As at April 2008, the assets of the bank were primarily in loans which accounted for 35% of total assets, liquid assets 30%, contingent assets 20% and placement with other banks 8%. It's portfolio of liquid assets was predominantly in treasury bills. In same period, Diamond Bank gross loans stood at N259. Loan growth was driven by increase in capital and deposits which strengthened the lending capacity of the bank.

Augsto & Co also affirmed that the pre-tax on equity stood at 17.6 while the pre tax return on assets was 2.6%. Diamond Bank net earnings increased to N39.6billion. This was derived by increase in lending and transaction related activities. Interest income grew by 40% to stand at N34 billion. With total local currency deposit at N743.7 billion and core capital of N116.9billion, the Bank's A+'s capacity to earnest business cannot be questioned.

The bank has made sizable investments and taken initiatives in credit risk management in areas of loan approval, product programmes, credit appraisal processes to strengthen risk management and stem non performing loans. The bank has also invested in credit scoring models in order to strengthen its credit risk management.

Diamond Bank's capitalization has improved over the last accounting year on account of inflow of equity derived from the issue of Global Depository Receipts on the flour of London Stock Exchange. The Bank was able to raise $500 million and this culminated into massive expansion of branch network, refurbishment of branches, business development, ATM deployment, investment in e-banking and expansion to other West African countries.