Diamond Bank Plc has partnered Nigeria’s largest food delivery platform, Jumia Food, to provide the bank’s customers with access to the tastiest foods from Nigeria and across the world.
The partnership has kicked off with a customer loyalty campaign to Diamond’s Xclusive customers in Lagos and Abuja and it will run till March 9, 2017.
Head, consumer banking, Diamond Bank, Mrs Aishah Ahmad, said the bank decided on the partnership because of its commitment to its beyond banking ethos, which seeks to integrate banking with customers’ lifestyles.
“With this partnership, our Xclusive customers will enjoy 30 per cent off their first order on Jumia Food, giving them access to the finest cuisines from Nigeria and across the world via over 200 select restaurants, delivered to their door,” Ahmad said.
Managing Director, Jumia Food, Olamide Bada, said the food outlet recognised Diamond Bank as a premier financial institution, which is often at the forefront of innovation in order to benefit its customers.
“Our common goal is great customer experience, which makes this partnership mutually rewarding,” Bada said.
Tag: Diamond Bank
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Diamond Bank, Jumia Food team up on customer experience
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Diamond Bank, Jumia Food partner to delight customers
Leading retail bank, Diamond Bank Plc, has partnered Nigeria’s largest food delivery platform, Jumia Food, to delight its customers with the food they love. The partnership kicked off with a customer loyalty campaign to Diamond’s Xclusive customers in Lagos and Abuja from January 9, 2017 for a two-month period.
Commenting on the bank’s decision to embark on the partnership, Mrs Aishah Ahmad, Head, Consumer Banking, said: “At Diamond, we are committed to our beyond banking ethos which seeks to integrate banking with our customers’ lifestyles.
“With this partnership, our Xclusive customers will enjoy 30% off their first order on Jumia food items, giving them access to the finest cuisines from Nigeria and across the world via over 200 select restaurants, delivered to their doors.”
Reiterating Aishah, Olamide Bada, Managing Director of Jumia Food, said: “We recognize Diamond Bank as a premier financial institution, often at the forefront of innovation in order to benefit its customers. Our common goal is great customer experience which makes this partnership mutually rewarding”.
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Diamond Bank unveils Diamond Future
Diamond Bank has opened a window of money management opportunity that enables parents and guardians plan and save for the future of their children through a simplified and high interest yielding target savings plan.
The financial product, known as Diamond Future does not only enable parents to save but also to teach their children to develop healthy savings habit and build prudent expenditure profile and diverse investment portfolios.
According to the Bank, Diamond Future was created and launched into the market in 2014 but now refreshed to help parents meet set savings targets for their children and easily accomplish their future financial goals and needs with excitement.
Information about the financial product on the bank’s website revealed that the product is a savings account designed for children between ages 0-17, and offers a well guided and structured plan with the opportunity of earning high interest rates. The plan is known as Diamond Future Target Savings Plan.
Its chief spokesperson, Chioma Afe, stated that a major reason for creating the product was to instill in children the value and dignity of starting early to chart healthy financial course in life, and also deepen financial inclusion by integrating the children into the banking community.
“We want young people to know that Diamond Bank is not just for adults, Diamond Bank is your Bank too. We have worked hard to be the bank that understands the financial needs of parents and their children and to provide the right products and support to help them save to achieve their dreams,” the bank stated.
The new offerings in the refreshed savings plan, provides customers with an opportunity to be rewarded with an additional interest accrual on agreed monthly savings. The reward increases as the number of years the customer has set in the savings plan increase.
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Diamond Bank maintains stable growth in Q3 2016
Diamond Bank yesterday released its Q3 2016 performance scorecard on the floor of the Nigerian Stock Exchange (NSE), showcasing moderate growth in key financial parameters.
For the nine months under review, the group recorded a growth of 16.9 per cent in total assets, which grew from N1.753 trillion in the same period last year to N2.05 trillion.
This was driven mainly by the value of the local currency and growth in customer deposits, which surged 13.6 per cent from N1.233 billion as at the end of September 2015 to N1.401 billion in the current business year, demonstrating the bank’s strong ability and network to generate cheap deposits from the retail and middle market segments.
Also, the bank grew its loan portfolio from N763.634 billion to N1.041 trillion, representing 36.4 per cent increase.
Commenting on the results, Chief Executive Officer, Uzoma Dozie, stated that the bank’s modest growth in the last nine months despite the inclement operating environment, was the result of management’s focus on key strategic projections across the three core segments of retail, business and corporate banking, noting that the bank will continue to passionately pursue its technology-driven retail strategy to optimise cost and reap predictable bountiful results in the medium to long term.
Uzoma said: “We believe the macro conditions and other external factors will remain challenging for the rest of the year and well into 2017. However, by pursuing our technology-led retail strategy and with our focus on innovation and scalability, we believe the bank is well-placed to benefit in the medium to long term from the favourable fundamentals in Nigeria, namely a large population, many of which remain unbanked. This strategy stands to benefit all stakeholders, including our shareholders and customers in the long run.”
Monetarists and analysts had, amidst the regulatory headwinds that characterized the industry in the last nine months, and the catalogue of macroeconomic challenges rocking the economy, predicted greyed results in the industry. But despite analysts’ predictions, Diamond Bank recorded strong growth in non-interest income, which leapfrogged by 38.1 per cent to N37.6 billion. The bank grew its retail customer base to over 13 million, while the use of its mobile app by customers continues to grow as transaction count increased from 4.3 million to 7.9 million with volume surging from N4.3 billion to N8.5 billion year on year.
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Diamond Bank chief Dozie joins Women’s World Banking board
Diamond Bank’s Managing Director/Chief Executive Officer Uzoma Dozie has joined leaders in financial services, business leadership and financing. He is to advise global non-profit organisations devoted to giving more low-income women access to financial services
Mr. Dozie was named to the Board of Trustees of the global non-profit Women’s World Banking, joining a group of global leaders advising Women’s World Banking in its mission to ensure women and girls have access to the financial tools and resources they require to achieve security and prosperity.
“Uzoma and his team at Diamond Bank are valued partners for Women’s World Banking in their mission to serve low-income women with innovative financial products. Through this partnership, Uzoma has already become a close ally and advisor to Women’s World Banking’s work,” Mary Ellen Iskenderian, President/Chief Executive Officer of Women’s World Banking, said.
“We’re thrilled to formalise this role and welcome him to the Board of Trustees”, she added.
Diamond Bank began partnering with Women’s World Banking to develop financial products for women in 2012, while Dozie joined the institution in 1998, expanding the Bank’s Oil and Gas Group, setting up the Personal Banking Group, serving as its Executive Director in charge of Lagos Businesses and Deputy Managing Director overseeing the Retail Banking Directorate of the Bank before becoming CEO in 2015.
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Diamond Bank, others partner for SMEs growth
Diamond Bank Plc has teamed up with Microsoft, Intel, HP and MTN in a strategic partnership focused at providing SMEs in the country with essential tools required to give them the competitive edge in a dynamic business environment.
In furtherance of this objective, Diamond Bank and its partners hosted an event tagged “accelerate your business” in Ikeja, Lagos, featuring an idea-pitching competition involving five young business enterprises. Greenville Organic Foods, an agro-allied company emerged the winner of a N4 million business solution from Microsoft.
Addressing over 200 participants at the event, head, emerging businesses, Diamond Bank Plc, Njideka Esomeju said that most Micro Small and Medium Enterprises (MSME) are saddled with the problem of access to finance, access to market and access to skills, pointing out that 80 per cent of over 35 million business ventures in Nigeria fall under the MSME category.
Njideka said that Diamond Bank is focused on going beyond banking to take people to the next level in life.
“At Diamond Bank, we back our passion with action as we continually seek to deepen inclusive financing in all sectors across the country,’’ Njideka said.
She noted that most start-ups are designed with borrowed business plans and are consequently wired to fail from the start adding that Diamond Bank has embraced the challenge of serving small and growing businesses by setting up a focused unit to drive MSME initiatives.
“The bank’s emerging business propositions team recognizes that finance is not the only need of small and growing businesses, which is why we have developed interventions that go beyond the traditional services offered by most banks. Our capacity building, access to markets and access to finance offerings are specifically designed to assist businesses realize their growth potential,” Njideka said.
She pointed out that the proposition comprised of special accounts for different vocations and practices ranging from schools to agriculture, entertainment and medical practice all tailored to suit industry needs.
She said that the theme for the year at Diamond Bank is focused on the digital revolution and the bank has designed revolutionary tools and platforms in line with this drive.
According to her, Diamond Mobile app, Online Loan application platform and the Diamond E-susu scheme are some of the digital products created to give customers the competitive edge.
She urged the attendants to utilize the bank’s SME club events where it partners with relevant industry stakeholders to organize events bringing together people within an industry to create value chain networking.
Head, SME Customers’ Marketing, Microsoft Nigeria, Mr. Adeniyi Adebote added that MSMEs have to leverage technology to deepen consumption in their various industries.
He said that Microsoft is driven to empower each individual to achieve more pointing out that this is reflected in Microsoft 365 which has been developed to narrow the generational gap and enable people to grow their businesses innovatively.
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Diamond Bank delights South-south customers with SUV, N25m
Diamond Bank Plc has reiterated its commitment to the promotion of a savings culture and customers’ satisfaction. It gave out a brand new SUV and N25 million in the SavingsXtra promotion draw for its South-south customers which took place recently in Port-Harcourt at the Odual Road branch of the bank.
The event, which attracted industry stakeholders, relevant regulatory bodies, customers, shareholders, journalists and management staff of the bank, saw Mr Imariagbe Austin of the Sapele Road branch, Benin City emerge as the winner of the star prize of a brand new SUV. Other winners emerged on the day as 10 lucky customers went home with 1million naira each and a further thirty won N500, 000. The draws were conducted through an electronic process certified by the top audit firm KPMG who had a representative present to monitor the event.
Mr Osita Ede, Head of Mass Market Segment, Diamond Bank Plc, in his opening speech informed that the Diamond SavingsXtra account was created to promote a savings culture and enhance financial inclusion among Nigerians. He stated that the reward scheme was just one of the ways in which the bank sought to appreciate customers for their loyalty to the bank. Mr Edeh pointed out that coming up in the no-too-distant future is Diamond Bank’s nationwide monthly draw in which thirteen people will be awarded the sum of N1m Naira each, two people the sum of N2 million each and one lucky person will win the salary-for-life which sees the winner earn a salary from Diamond Bank plc every month for a period of twenty years. To qualify for the monthly draw, Mr. Osita Edeh informed the gathering that all a customer needs to do is maintain a minimum monthly balance of N5,000.00 while additional deposits would count as multiple entries thereby increasing the customer’s chances of winning.
Present at the draw were past winners from draws within the region. Mr Duru Chukwuebuka Francis, a salary-for-life winner who emerged from the Eket branch of Diamond Bank plc, said he didn’t believe he had won until he got the first credit alert from the bank. Mr. Duru a trader in building materials, went further to state that representatives from the bank have continuously proffered invaluable advice on investment opportunities making him a better business manager.
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Diamond Bank to exceed shareholders’ expectation
Diamond Bank Plc has projected that it would exceed shareholders’ expectations at the end of its current business year and beyond. The bank’s management also reinforced its business strategy and strengthened its firm position as one of Nigeria’s biggest financial institutions with world-class customer service delivery.
Apart from beefing the human capacity, the bank deployed cutting edge digital mobile technology, which reduced cash cycle and consolidated its hold on the Micro Small and Medium Enterprises (MSMEs) segment, while growing its corporate market. These, it said, have helped in expanding its local market share and deepened its global reach.
To align with current business realities and point the future direction of its service delivery, Diamond Bank also refreshed and renamed some of its financial products.
The Chief Executive Officer, Uzoma Dozie, affirmed that although the industry is going through numerous challenges due to a lot of internal and external influences such as the slump in crude oil price in the international market, foreign exchange volatility and regulatory headwinds, the bank is continually on the lookout to optimise new opportunities for growth presented by these realities.
“Our growth drive begins from the inside as we have put in place a human capacity development system that ensures that we attract the best people in the business, train them to be able to perform at the best level in their jobs and motivate them well enough to stay with us.
“We are aware that the future of banking is digital and Diamond Bank is recognised for its innovative value added solutions that have changed the banking system to suit the customer lifestyle. These include Diamond Mobile App, Diamond Y’ello Account, Diamond Xclusive and Beta Proposition.”
According to the CEO, the bank recognises the place of MSMEs as the engine that catalysis economic production and therefore, will continue to deepen the market segment by improving MSMEs stakeholders’ access to funds, market and advisory services.
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Diamond Bank promotes entrepreneurship
Diamond bank Plc has launched this year’s edition of Building Entrepreneurs Today(BET) programme.
The Diamond Bank BET is an SME initiative aimed at generating interest in entrepreneurship and to express Diamond Banks readiness to support and encourage entrepreneurs in Nigeria.
In a statement, the bank said the BET programme was started in 2001 and is in its sixth edition with this year’s theme tagged as ‘Let’s Build Our Own’.
Diamond Bank’s Chief Executive Officer, Uzoma Dozie said the BET programme is not about financing, but providing access to advisory services, market potentials and countless opportunities.
He said that the monies provided to the winners of the BET was not a loan but more of a grant.
The individuals were not expected to pay back the money but rather channel it into growing their businesses.
He said the programme was geared towards equipping businesses and their owners in order to create more jobs in Nigeria. The top five people would be given a N3 million boost to inject into their business.
Director, Enterprise Development Centre, Pan Atlantic University, Peter Bankole, one of the partner organisations working with Diamond Bank on the BET programme, said the the programme is not the first empowerment program that Diamond Bank has embarked on.
He noted that the bank initiated ‘right ideas’ which was also an empowerment program aimed at supporting and creating more business opportunities for people with the right ideas.Mr Bankole pointed out that the ‘’right ideas’’ initiative has developed over the years to become the BET program.
He said the applications expected for the BET programme would exceed 15,000 from which 300 businesses would be selected and trained over a six months period in an intensive program with Diamond Bank.
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Diamond Bank reaffirms commitment to quality service
Despite the harsh operating environment and strict regulatory framework which calls for caution in the financial industry, Diamond Bank has reaffirmed its commitment to quality service delivery, sustenance of strong fundamentals and stable profitability for its shareholders.
In a statement the bank stated that keeping in view with the 2015 full year results as approved by the Central Bank of Nigeria, the Q1 2016 results submitted to the Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) as well as the strategic roadmap for Q3 and Q4, its revenue yield and profitability will exceed analysts’ expectations and forecast.
In its operations in Q1, Q2 and extending into Q3 2016, the Bank has continued to deploy new technologies and digital applications to drive financial inclusion, convenient banking, enhanced customer friendly services and its overall retail banking strategy that will enable it focus on driving non-interest income and strengthen explored opportunities to grow its market share. These have positioned the Bank for a better future with strong expectation for improved financial performance in the rest of the business year.
In the Bank’s Q1 2016 result presented to the NSE and SEC, Diamond Bank resiliently buoyed itself above sundry industry turbulences and posted PBT of N6.7bn, averaging monthly PBT of N2.3bn, thus scaling industry expectations and meeting the minimum target for its shareholders for the period under review.
In the first quarter of the financial year, the Bank displayed a strong will to reduce its operating costs and interest expense, which shrunk by 2.8% and 10.3% respectively compared to Q1 2015.
Diamond Bank’s Capital Adequacy Ratio submitted to the the NSE and SEC for Q1, 2016 stood at 16.2%, which is 1.2% higher than the CBN minimum requirement of 15%, with the Bank’s liquidity position standing at 52.4%, higher than the 30% minimum requirement set by the CBN. The Bank also recorded an asset base of N1,821.6 billion at the end of Q1, 2016, making the Bank one of the 10 most solvent banks in Nigeria.
As a “systemically important bank” in Nigeria, Diamond Bank Plc has continued to maintain its global relevance as a financial service provider with a strong and focused management; and is rated one of the biggest banks in the world in the latest Top 1000 World Bank ranking by Financial Times. Diamond Bank Plc, standing as the 6th biggest bank in Nigeria, 20th biggest bank in Africa and 711th biggest Bank in the world, according to the latest ranking, is one of the most liquid and capitalised financial institutions in Nigeria.
According to the Bank’s chief spokesperson, Ayona Trimnell, “Diamond Bank in the last half decade, has continued to sustain strong fundamentals, expand its operational offices across the country, improve on its service delivery, increase its revenue yield and maintain stable profitability for its shareholders”.
Diamond Bank Plc is Nigeria’s fastest growing retail bank, leveraging innovation and technology to enhance customer experiences and drive financial inclusion in what it terms Beyond Banking.
Since incorporation in December 1990, Diamond Bank has challenged the market environment by introducing new products, innovative technology and setting new benchmarks through international standards. Today, Diamond Bank is best placed to respond to changing lifestyles and is leading the digital transformation in response to these societal shifts. Diamond Mobile app, for example, is Africa’s leading banking app and the first with the touch ID feature.