Fitch Ratings on 14 February 2017 affirmed Long-and Short-term National Ratings of Diamond to BB+(nga) and B(nga) respectively whilst our Long-and Short-term Foreign Ratings were affirmed at "B- and B" respectively.

The Bank's Short-term and Long-term Foreign Currency Issuer Default Ratings (IDR) and that of nine other Banks was retained or affirmed. However, the outlook (probability of default) of Diamond Bank IDR and that of three other banks was reversed to "Negative" from "Stable".

The outlook on Diamond's IDR is a reflection of the impact of Nigeria's sovereign risk rating.
Diamond Bank's affirmed IDR rating of "B-" implies that Diamond Bank has the capacity to meet financial commitments and remains in a very strong position despite the deteriorating operating environment as evidenced by our strong gross earnings.

Our strong liquidity position of 42.3% is well above the regulatory 30% and remains one of the best in the market and we will continue to meet all our obligations to the customers as they fall due.
Our current retail strategy is expected to protect us from the volatility in the market and continue to drive us on the path of sustainability as evident in current gains.

With over 6 million customer base and growing customer confidence evidenced in over 2 million Mobile app subscriber base and more than 2 million active DYA customers with over N1 trillion customers deposit with over 70% in low cost funds, the bank's fundamentals remain stronger than ever and our brand still remains one of the strongest in the market.

With Global Credit Rating Co. (GCR) affirming the banks Long-and Short-term National Ratings as "BBB+ and A2" respectively and a "Stable" Outlook, Diamond Bank Plc has established a strong position within the highly competitive Nigerian banking space (in terms of balance sheet size) and ranks among the leading Tier 2 banks in the country.

This accorded rating incorporates Diamond's status as a systemically important bank ("SIB").
GCR noted that capital grew by 5.1% to N253.2bn at FYE15, underpinned by internal capital generation as well as currency translation adjustments.

Nonetheless, given the growth in risk weighted assets, GCR noted that the bank's capital adequacy ratio declined to 16.3% in F15, from 17.5% in the prior year, although still above the regulatory minimum of 15%.
On a statutory basis, the bank's liquidity remained well above the statutory minimum during the year, closing at 53.8% against the stipulated 30% by the regulator.

Diamond Banks continues to strengthen its financial performance and market share by growing its retail business and expanding the scope of its activities in the MSME segment and Financial Inclusion space. We expect the Bank to remain profitable in 2017 and beyond.

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