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Tag: Diamond Bank

  • Diamond Bank supports women in MSMEs

    Diamond Bank Plc, has lent its support to make women succeed in Micro Small and Medium Enterprises, (MSMEs).

    Head Regional Business, Northern Directorate, Sufiyanu Garba who disclosed this in Abuja, said the bank is in full support of women in Micro Small and Medium Enterprises, (MSMEs) and has introduced a lot of iniative for women in that area.

    Sufiyanu Garba disclosed this during the Diamond Bank first customer workshop in Abuja, where he stated that “the bank is in full partnership with women to ensure they succeed in their businesses.”

    According to him, “Diamond bank is a retail bank that has strong support for MSMEs. our customers are very important to us and we always want to support them. In Diamond we have different programmes each month and at different locations, this is among our programmes for the year.”

    He also revealed that “Diamond bank gives out loans for starters, what we do is prepare people to receive this loans, we teach them business principles and how to use their money for business, at the end of the day, they make the business bankable and we position and educate them on how to use this loans.”

    Garba urged women MSME operators with bankable businesses to “can come to us, the bank has been giving a lot of loans to MSMEs, and we are willing to do more. If a new customer under Diamond Bank wants loans, all you need to do is maintain an account with the bank for three months, as long as the customer knows its not a grant but a loan and payable at the due time.”

    He lamented that, challenges facing loan collection in Nigeria “is enormous, among them is unregistered businesses that want loans at all cost, in that case we take the pains of registering the company for the client.”

    Also speaking at the event, a business woman, Ijeoma Ndukwe who has grown her business into million naira worth advised other businesswomen to work on their success, remain with the strategy for your success. always know that there are business challenges to deal with, if this does not happen your business is dead. There is no business without challenges. Diamond Bank can only support your works in business not give you ideas on how to create a business.”

  • Diamond Bank backs youth entrepreneurship

    Diamond Bank Plc has promised to support youths and Small and Medium Scale Enterprises (SMEs) through the National Youth Service Corps Skill Acquisition and Entrepreneurship Development (NYSC SAED) initiative.

    The bank’s Head of Sales, Mrs. Ogechi Altraide, said Diamond Bank understands that the youth constitute about 60 per cent of the nation’s population and are the driving force of the economy.

    She said the NYSC SAED initiative was borne out of the bank’s passion for grooming young entrepreneurs who would become employers and future business leaders.

    She added that Diamond Bank is doing a lot to ease the pains of the young graduates in job search, which was why it created the first-ever Curriculum Vitae (CV) bank, which allows young graduate to upload their CVs into a digital bank where employers could easily assess the documents for employment.

    She urged the corps members to take advantage of the bank’s entrepreneurship grooming platforms, SAED and Building Enterpreneurs Today  (BET), to acquire the necessary skills to build a business career.

    A past winner of the BET programme, Mr. Abiodun Folawiyome, said: “The edge I have in business is as a result of the training and funding I got from the Diamond Bank’s full scholarship to Enterprise Development Centre (EDC), which fortified me for the task ahead.’’

    He urged corps members to tap into the SAED programme  to weather the tough business terrain.

    The NYSC State Coordinator, Prince Mohammed Momoh,   praised Diamond Bank for its effort in training and supporting young businesses and entrepreneurs.

    He charged the corps members to participate in the training to ensure that they benefit from it.

  • Diamond Bank to give out N433m to promo winners

    Diamond Bank Plc yesterday unveiled season 10 of the DiamondXtra promo in which over N433 million will be won by customers.

    Its Head of Mass Market Segment, Osita Ede, said the bank is excited because it has successfully run the DiamondXtra  promo for nine seasons, and this is the 10th season for the promo.

    “And for us, it is an opportunity to continue touching lives of Nigerians. People have been giving reports about how the promo has impacted positively on their lives. We monitor and advise the winners on how to make best use of the fund,” he said.

    He said the bank conducted surveys in during which it found new areas of interest to savers. “We did not add things, but have done surveys and found out that people wanted accommodation, education and so on. We have therefore included some of these solutions, including education grants where winners will take N100,000 monthly for five years.We are being careful about giving winners huge money at once. The rent advance is just N1 million once,” he said.

    Also speaking at the event, the bank’s Managing Director, Uzoma Dozie, said DiamondXtra is a very important solution to the bank’s customers as it does not only serve as a platform where they can save, but also gives them opportunity to win wonderful prizes.

    “We have seen how it transformed people’s lives in the last 10 years,” he said.

     

     

     

  • Court reserves judgment over N2.5m suit against Diamond Bank

    Court reserves judgment over N2.5m suit against Diamond Bank

    Justice Angela Otaluka of the FCT High Court, Lugbe, has reserved judgment till February 5 over a N2.5 million fake credit alert allegedly received by Olajide Friday from Diamond Bank arising from a car transaction.

    Mr Cyril Nwaogu, the Counsel to Friday, a car dealer, while closing his case urged the court to ask Diamond Bank to restore the amount to his client and other damages caused.

    According to him, “my client got an alert from a customer that the sum of N2.5 million has been credited to the plaintiff and he released the car, but on getting to the bank we discovered that the money was not credited to his account.

    ” We wrote to Diamond bank severally, but the bank promised to revert to us their findings, but we did not hear from it again, that was why we came to court.”

    According to Friday, “I had a N2.5 million transaction with my client and he called me that he has paid the money into my account, which I received a credit alert on the usual platform from the bank.”

    Read also: Court freezes lawyer’s account over alleged N40m fraud

    He said he never questioned the veracity of the alert because he had no reason, as it was the usual way he received alert from the bank.

    He said he had to release the car the moment he got the SMS alert from Diamond bank, adding that after three days, he went to the bank to claim his money and discovered that the money was not credited.

    He blamed the bank for such anomaly, adding that receiving SMS alert was the only medium he could know that payment had been made.

    He said he wrote to the bank and it promised to get back after investigation but to no avail.

    Mr Austin Uwanna, the Counsel to Diamond bank, told the court that his client would be applying for N500,000 damages from the plaintiff.

    He said the suit was baseless and unfounded because Diamond bank was not a party to the transaction.

    Uwanna said the plaintiff agreed with his customer that he would receive alert from the transaction, stressing that diamond bank was not a party to such agreement.

    The defence counsel said the plaintiff went to the bank and did not see any alert, adding that the bank could not be said to be culpable in such matter.

    NAN

  • Diamond Bank named WEF adviser

    Diamond Bank Plc has announced its appointment as a forum member adviser to the World Economic Forum (WEF). The forum aims to shape global, regional and industry agenda to deliver WEF’s mission of improving the state of the world.

    Diamond is the first Nigerian company and only the second African company to become a World Economic Forum Adviser. Membership is on invitation basis and is extended only to the most dynamic businesses that are using tech-driven innovation to drive growth.

    The bank’s Managing Director/CEO, Uzoma Dozie, will also attend the WEF Annual Meeting in Davos to discuss a number of key themes, including: promoting financial inclusion, particularly among women; Nigeria’s emerging technology-enabled entrepreneurial culture and Lagos as a hub for innovation and the role of digital, technology and data in transforming banking.

    Dozie is scheduled to speak on a panel at an interactive workshop session entitled: “A shared vision for Financial Inclusion at the Congress Centre, Jakobshorn.

    Commenting on the appointment and his attendance at the World Economic Forum’s Annual Meeting, Dozie said: “I am delighted that Diamond Bank was invited to join as a Forum Member Adviser of the World Economic Forum, as it is testament to our status as one of Nigeria’s leading innovators. I am also thrilled to be attending this year’s Annual Meeting in Davos, where I will be presenting my views on the three key areas of financial inclusion, Nigeria’s positive outlook and the future of banking.

    “In particular, I will be sharing Diamond Bank’s experience in the financial inclusion space where our Beta Proposition and Diamond Yello Account have made significant inroads in bringing previously un (under) banked people into the financial system. It will also be an opportunity to highlight the transformative role of technology and data in enhancing financial inclusion in a country of 180 million people where nearly half do not have a bank account.

    “I will also be passionately championing the success of increasing numbers of technology-enabled entrepreneurs and the culture of innovation that is taking hold in Nigeria, particularly Lagos. This innovation is leading to a new wave of business leaders that are shaping the Nigeria of tomorrow, as well as helping fuel economic growth today.

    “Despite historic challenges, I will also use the World Economic Forum Annual Meeting as a platform to promote Nigeria’s excellent fundamentals and its recent progress.”

    As a pioneer in the banking sector and beyond, Diamond is an industry leader in promoting financial inclusion, supporting entrepreneurs and digital transformation. Key initiatives include Building Entrepreneurs Today (BET),  a capacity building and business education initiative, designed to empower entrepreneurs, and Diamond Woman, a dedicated lifestyle proposition for women of all ages.

  • 14th Diamond business club cocktails, together towards tomorrow

    14th Diamond business club cocktails, together towards tomorrow

    The one place to successfully mix business and pleasure is the Diamond Business Club Cocktail event.

    Keen on capacity building, business development, and an understanding that businesses thrive on connections to be successful, Diamond Bank launched the 14th edition of the Diamond Business Club Cocktail.

    The cocktail event aimed to provide Diamond Business account holders and emerging entrepreneurs access to market opportunities under a relaxed atmosphere where they can network and share ideas amongst themselves.

    The event which took place at the Diamond Bank, Central Business District, Abuja featured keynote speaker- Omolara Fatunbi, CEO Ashers Boutique and other thriving entrepreneurs. It was one of glitz and glamour as guests looked ready to kick off new business terrains in various attires including some classy and colourful traditional outfits.

    Programme of event included an interactive session with the guest speaker, an introduction to Strategy Games, rib-cracking moments by a guest comedian, and an abundance of refreshments to mention a few.

    Returning guests couldn’t help but rave about how the Diamond Business Club Cocktail event gets better with each passing year.

    Diamond Bank has over the years recorded milestones with its business development initiatives including:

    ● 20,000+ business representatives physically in attendance.

    ● Increased Customer participation at Diamond Business Clinics/ Clubs/Seminars

    ● Fostered Customer participation at capacity building collaborations (Beauty Souk, SME Growth Conference, Creative Lessons over tea, 25 under 25 awards, Lagos State
    Business Summit, Megacity Fair, School Stakeholder Forum etc).

    ● 1000+ entrepreneurs participating in Beauty Souk, with 5 out of these sponsored with free stores at the Beauty Souk event.

    ● BET Series
    -Trained 300 businesses from inception to date.
    -30 businesses awarded grants
    Opportunities. Knowledge. Networking is a key requirement for businesses to reach their peak.

    The bank advised individuals who are interested in the Business club to visit any branch of its bank.

  • Diamond Bank to sell foreign subsidiaries

    Diamond Bank to sell foreign subsidiaries

    Diamond Bank is quitting other West African markets to focus efforts at home and deploy its resources on personal banking business, it said yesterday.

    The move by Diamond Bank ends the mid-tier lender’s 18-year push abroad.

    Diamond Bank has agreed to sell its operations in Benin, Togo, Cote d’Ivoire and Senegal to Manzi Finances S.A., a Cote d’Ivoire-based financial services holding company. Regulatory approvals have been obtained in all jurisdictions for the transaction, which is anticipated to close before December 31, 2017.

    “After 18 years of building the Diamond Bank franchise in other markets in West Africa, the time has come to fully apply our resources to Nigeria,” Diamond Bank Chief Executive Uzoma Dozie said in a statement.

    It said it wanted to apply its resources to Nigeria to develop a profitable technology-driven retail banking business.

    The bank said yesterday it had agreed to sell its operations in Benin, Togo, Cote d‘Ivoire and Senegal to a Cote d‘Ivoire-based financial services company, Manzi Finances S.A., for 61 million euros. It expects the deal to close this year.

    Diamond Bank posted a 71.5 per cent rise in nine-month pretax profit to N6.67 billion in September.

    Several lenders have adapted their business models after low crude prices put pressure on the once lucrative oil and gas loan book. Nigeria exited recession in the second quarter but growth is fragile.

    Dozie said Nigeria’s unbanked population and the rise of cost-effective digital banking platforms provided it with the opportunity to reach millions of customers in a market where it already had over 15 million clients.

    Diamond shares, which have risen 15 per cent so far this year, climbed five per cent yesterday to N1.06. They had fallen 62 per cent last year. Fundamentally, this strategy stands to benefit all the key stakeholders – shareholders, customers and employees – in the immediate, medium and long term.

  • Diamond Bank grows Q3 profit by 71%

    Diamond Bank Plc yesterday presented its third quarter ended September 30, 2017 financial result to the Nigerian Stock Exchange (NSE). The lender’s financials displayed moderate growth in key financial parameters despite the lull trailing economic activity after the country exited recession.

    For the nine months business period, the bank’s gross earnings jumped by 11 per cent year-on-year to N168.4 billion while profit before tax surged by 71 per cent to N6.7 billion. Impairment charges shrunk by 16 per cent to N35.3 billion year-on-year, reflecting management’s prudent approach to loan underwriting.

    Although operating costs rose by 16 per cent to N54.3 billion from N46.7 billion in the corresponding period last year; this increase, according to the bank, is due to the huge investment in technology acquisition in line with the management’s strategic set goal to continue to lead the digital revolution in driving the development and delivery of world-class financial products and services in the sub-sector.

    During this business period, the Bank curtailed staff costs, which shrank by five per cent year-on-year. This was because of the migration of more transactions from branches and the banking hall to the digital mobile platforms, leading to 95 per cent increase in online banking and mobile transactions.

    Commenting about the results, Chief Executive Officer, Uzoma Dozie, stated that the bank’s modest growth in the last three business quarters under review despite the lull in economic activity and hazy operating environment, was the result of management’s focus on key strategic projections across the three core segments of retail, business and corporate banking.

    He added that the Bank has a lot to do as the management will continue to passionately pursue its technology-driven retail strategy to optimise cost, boost financial performance in the medium to long term and strengthen support for MSMEs.

    “We are happy with the progress we have made against our technology-led retail strategy and in areas of our financial performance, but there is more to do in the remaining quarter and beyond.

    Specifically, we are committed to further developing our technology and operational infrastructure that allows us to scale rapidly, efficiently and cost effectively across Nigeria”, Uzoma said.

    Economists and keen industry observers are of the view that as the economy waddles on the path to full recovery and strong economic activity after the exit from recession, Diamond Bank’s resolve to strengthen its partnerships with domestic and international bodies.

  • Updated: Tanker drivers burn two banks in Lagos

    Updated: Tanker drivers burn two banks in Lagos

    Tanker drivers on Wednesday morning went on rampage at Apapa, Lagos, and set ablaze two commercial banks – Sterling and Diamond.

    The tanker drivers were protesting the killing of their colleague by a mobile policeman.

    It was gathered that the policeman, attached to one of the banks, had accosted and shot dead the driver for indiscriminate parking and blockade of the bank’s entrance.

    According to witnesses, the unknown mobile policeman had approached the drivers to give way to bank customers but they refused.

    He reportedly fired several gunshots in the air but one of the bullets hit the deceased driver who bled to death.

    While the policeman fled the scene, the deceased driver’s colleagues stormed Creek Road and stabbed any policeman on sight.

    It was gathered that they injured at least three policemen, who were going about their businesses, before proceeding to set the banks ablaze.

    Attempts by men of the Lagos State Fire Service, Iponri, who rushed to the scene to put out the fire, were rebuffed by the tanker drivers.

    Our correspondent learnt that the firemen had to leave the area for fear of being assaulted by the drivers.

    It took the combined efforts of policemen from the Rapid Response Squad (RRS), Area B command, operatives of Nigerian Navy Ship (NNS) BEECEOFT and their colleagues from Nigerian Army Signal Corps to contain the situation.

    The security operatives also prevented the rioters from setting a tank farm ablaze.

    It was learnt that hoodlums attempted to seize the opportunity to loot the affected banks but they were prevented by RRS operatives led by the Commander, Tunji Disu, an Assistant Commissioner of Police (ACP).

    A senior police officer who was ground said: “Those tanker drivers are very irrational. When the policemen attached to one of the banks shot at the tanker driver, they regrouped and stormed the bank in anger.

    “They first demanded that the policeman who shot their colleague be released to them. When their demands proved abortive, they took laws into their hands.

    “They contributed fuel from their tanks and set the banks ablaze. The entire situation caused a stampede as both workers and bankers scrambled to escape from the back of the bank to safety.

    “The drivers were still on rampage in the first bank when they heard that the policeman had taken refuge in the next bank.

    “Armed with that information, they simply went over to the said bank and carried out same carnage, irrespective of the presence of innocent bystanders.

    “They also attacked innocent policemen going about their own businesses. They stabbed no fewer than three policemen who didn’t know what was happening.

    “Six of them were arrested. The mobile man was also handed over to the DPO Apapa. Calm has returned to the place now.”

    Reacting to the arson, Sterling Bank said the mobile policeman ran into it premises to avoid being mobbed, urging customers at the branch to patronage nearby branches.

    The bank said: “An armed mobile policeman fleeing from an irate mob after shooting a tanker driver disrupted banking operations at the Sterling Bank branch on Creek Road this morning. He ran into the premises of the bank to escape being lynched.

    “Security operatives attached to the bank disarmed and arrested the fleeing mobile policeman but did not hand him over to the irate mob.

    “The mob got upset and attacked the bank with the intention of unleashing mayhem on staff and customers. The branch’s reception area was vandalized and set ablaze.

    “The security operatives attached to the branch prevented the mob from entering the branch while evacuating staff and customers before the arrival of police reinforcement. The branch has been temporarily shut down.

    “We wish to inform all our customers that normal services will continue at nearby branches and through all our electronic channels.

    “Sterling Bank is working with security agencies to resolve the issue.”

  • Diamond Bank deepens internet banking

    Diamond Bank Plc has launched its revamped internet banking platform as part of efforts to enhance the delivery of financial services to its customers.

    Its Head, Corporate Communications, Chioma Afe, in a statement, said the overhauled and refreshed internet platform reflects the bank’s strategic set goal to drive its financial operations and expand its global reach through the deployment of cutting-edge digital technology with unique and dedicated value added financial services.

    According to her, the added innovative solutions on the platform will help deepen the bank’s financial inclusion strategy and enhance the service offerings, which are tailored to align with customers’ needs and changing lifestyle.

    She said the bank is on the lookout to optimise new technological opportunities presented by current realities for customer satisfaction and the growth of its market share.

    “We are excited to unveil this online platform that offers our customers best in-class financial services that goes beyond banking. We are deeply committed to maintaining our leadership in creating customer-centric products and services that will continue to recognise, appreciate, laud and applaud customers constantly changing lifestyle,” Afe said.

    She said the new online platform goes beyond providing best in-class financial services to customers as it also includes a wide range of value added benefits that guarantees day-long secure and hassle-free online banking experience in any part of the world.

    Among other numerous functionalities, the online platform enables customers to monitor activities on accounts, view and print out statements in many forms, view images of issued cheques presented for clearing, maintain a library of beneficiaries account details for reoccurring payments, transfer foreign currency from domiciliary account, make bills payment instantly to over 30 billers, search, book and pay for local and international flights and create savings group with friends and family in the traditional esusu.

    Other benefits include, creating and maintaining an automatic debit instruction from a customers’ account to another account, cheque book request, confirmation and stoppage, credit card repayments, receiving western union directly to a customer’s Diamond Account, opening a term deposit account on Diamond online, request for debit card and setting transaction limit on account and transfer funds to accounts within and outside the bank. The refreshed platform also offers a mobile friendly interface.