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Tag: Diamond

  • Diamond Bank grosses N156.5b in 9 months

    Diamond Bank Plc grew its top-line by 3.2 per cent to N156.5 billion in the first nine months of this year, according to earnings report released at the Nigerian Stock Exchange (NSE).

    The nine-month report for the period ended September 30, 2015 showed that gross earnings rose from N151.6 billion recorded in third quarter 2014 to N156.5 billion in third quarter 2015, representing an increase of 3.2 per cent. Net interest income increased to N85.2 billion against N82.6 billion in comparable period of 2014. Profit before tax however dropped from N23.7 billion to N18.6 billion while profit after tax also declined from N20.19 billion to N18 billion.

    Chief executive officer, Diamond Bank Plc, Mr Uzoma Dozie, said the bank has gone through extensive transformation noting that innovation, technology and lifestyle priorities will drive banking in the future and Diamond Bank has been well positioned to take advantage of this.

    He expressed optimism about the growth and value to shareholders and restated his commitment to overseeing full implementation of the bank’s digital led retail strategy.

    According to him, the decline in total assets of the bank by 8.5 per cent from December 2014 was due to the continued rebuilding and strengthening of the bank’s balance sheet with focus on a more efficient structure that will deliver better returns to shareholders in the long term.

    “Our customer friendly products and services are showing positive results. By taking this approach we stand to benefit from further innovation, technology and lifestyle changes that will drive banking in the future. Our business has remained resilient despite challenges in the operating environment, and as the fastest growing retail bank in Nigeria, we have the resources and governance structures to enable us ride the current headwinds and take advantage of opportunities that may arise in the future,” Dozie said.

    According to him, in spite of regulatory headwinds that impacted business operations in third quarter, Diamond Bank stayed focused on strategy implementation showing strong resilience against the tide. The bank cleaned its books of additional toxic assets and recorded strong growth in revenue, while setting forth a clear and realisable business roadmap that would promote stronger and sustainable growth in the fourth quarter and the years ahead.

    Although industry watchers and analysts had predicted a decline in, or flat revenue at best, due to unfavourable macro environment and challenging regulation, Diamond Bank maintained its status as the fastest growing retail bank as well as displayed resilience in earnings..

     

     

  • Ezekwesili to deliver Foursquare diamond jubilee lecture

    Ezekwesili to deliver Foursquare diamond jubilee lecture

    A public lecture to mark the Diamond Jubilee Anniversary of the Foursquare Gospel Church in Nigeria holds in Abuja on Thursday at the National Christian Centre.

    It will be delivered by former Minister for Education, Mrs Oby Ezekwesili, will speak on the topic ‘The Role of the Church in Nation Building.’ It will be chaired by House of Representatives Speaker Yakubu Dogara. General Overseer of the Foursquare Gospel Church in Nigeria, Rev Felix Meduoye, will lead the District Overseers, Zonal Superintendents, pastors and members of the church, to welcome dignitaries and invited guests from all walks of life.

    The lecture is second in the series of such events to mark the 60th anniversary of the Foursquare Gospel Church, which was established in Nigeria by the missionary, Rev Harold Curtis, and his wife, in 1955.

    The international arm of the church had been founded in 1923 in Los Angeles, United States of America, by traveling evangelist, Aimee Semple McPherson. The maiden lecture marking the Diamond Jubilee had held in Lagos in May, and it was delivered by Professor Niyi Agunbiade, Vice Chancellor of McPherson University, Ogun State. The Diamond Jubilee Anniversary will be concluded in November with a special National Convention, which will attract delegates from different parts of the world, including the International President of the organization, Dr Glenn Burris Jnr.

  • Diamond Bank, NEPC partner on export delivery

    Diamond Bank Plc, in partnership with the Nigerian Export Promotion Council (NEPC), has reaffirmed its commitment to effective and efficient export service delivery.

    In a two-day training programme, hinged on managing effective export desk in banks, the lender stated that effective and efficient export service delivery is one of the surest ways the financial services sub-sector could help stimulate economic activity in the country.

    The training helped in improving the skills of the bank’s staff on the export desk and promoting efficient export service delivery in the bank. Benefiting staff were selected from its branch network across all the geo-political zones in the country.

    The bank’s Executive Director, OladeleAkinyemi, said its involvement in the training is to promote a stress-free and prompt transaction processes in export trade for the growth of the economy.

    He said: “It is imperative to encourage a synergy between government agencies and financial institutions to aid smooth flow of business in the exportation of Made-in-Nigeria goods. Diamond Bank as a financial institution seeks to be a leader in export trade by putting in place a system that is beyond ordinary banking for export customers. Our desire is to be on ground to offer professional advice that would add value to our customers in their business transactions. Therefore, we are training our staff members to think and act as exporters as well”.

    The Chief Executive Officer, NEPC, Segun Awolowo who was ably represented by Olajide Ibrahim, Executive Director, NEPC, praised the collaboration, adding that it will enhance capacity building for personnel that are assigned to manage export desks.

    “The NEPC has viewed the aspect of Export Desks-cum-finance as very vital to non-oil export promotion, hence the need for a deliberate intervention plan. This training and capacity building workshop will facilitate quick access to finance by the Nigerian exporters,” he stated.

    Facilitator of the session, Obiora Madu, Managing Director/Chief Executive Officer MultimMix Academy, praised the lender for being the first bank to approach the NEPC for consultation on such training.  According to him, “This is simply a reflection of the bank’s commitment to make exporters have strong backing in their business transactions”.

    The Area Comptroller, Nigeria Customs Service, Apapa Port, Lagos, Charles Edike, also lauded the bank for taking the initiative to train its staff and rightly position them for efficient export service delivery especially as the new government is very keen on promoting the exportation of goods from the non-oil sector.

    He said: “Nigeria has abundant resources that are yet to be harnessed for export trade. We are excited that Diamond Bank has taken this all-important issue to the academy to educate bankers on the export business. The knowledge gained here cannot be over emphasised as it will ensure that we have the best hands managing the export desks of the bank.”

     

  • SA Consul-General praises Diamond Bank’s e-banking

    South African Consul-General Ambassador Mokgethi Monaisa has lauded Diamond Bank Plc’s bold digital banking initiatives, saying businessmen and women from his home country would continue to patronise and enjoy the excellent electronic banking services, which have put the bank ahead of others.

    During a dinner organised by the bank for a team of South African business delegates to Nigeria, who were on an Outward Selling and Investment Mission (OSIM), Mokgethi said when he arrived in Nigeria, a few years ago, he and his team found financial home in Diamond Bank as a result of the quality of its products, customer friendly workforce and well-developed digital banking services.

    “When I arrived Nigeria in 2012, Diamond Bank was the only bank that rendered the kind of excellent electronic banking that we were used to in South Africa. We knew we had to work with them and over the years, they have continued to improve in their services.”

    He urged the delegates to consider Diamond Bank Plc for their transactions if and when they come to do business in Nigeria.

    The bank’s Chief Executive officer (CEO), Uzoma Dozie, assured them of the lender’s support when they eventually extend their businesses to Nigeria. He explained that Diamond Bank is keen in exploring the immense business opportunities that abound in markets that other banks have not gone into, in order to see that their respective businesses thrive when they eventually decide to come and invest in Nigeria.

    “For us at Diamond Bank, we go the extra mile by tapping into the unbanked to exploit available opportunities. As a bank, we do more than just giving out loans; we create payment structures with detailed information on cash flow which makes for easy connection between business owners and their partners. We also help to improve the quality of services they render  to build sustainable and long term relationships.”

    The leader of the delegation, Mzwandile Masina, South Africa’s Deputy Minister of Trade and Industry, praised Diamond Bank Plc for a rewarding and satisfying partnership over the years and assured investors of a great support base from the bank.

     

  • Diamond, Cortina eye Africa Bank deals

    Ex-Barclays Plc Chief Executive Officer Robert Diamond has a rival: Spanish billionaire Alberto Cortina, who is building a banking presence in West Africa to take advantage of demand from sovereign and corporate clients.

    Cortina is conducting due diligence on a retail bank in Senegal after his Banque de Dakar investment bank started operations in the West African nation this month, he said in an interview in Madrid. He’s also planning to set up an investment banking unit in Ivory Coast to the East by the end of the year.

    Africa is attracting investor interest as growth outstrips that of many developed countries. Diamond and Ugandan entrepreneur Ashish Thakkar set up Atlas Mara Ltd. to acquire African financial service companies and is in talks to invest in Banque Populaire du Rwanda. David Bonderman’s TPG Capital is also looking at deals, and said last week it partnered with billionaire philanthropist Mo Ibrahim’s Satya Capital to invest in African healthcare, consumer and financial services.

    “We want to create a financial institution for Africa,” Cortina said. “Senegal has a history of political stability.”

    The businessman and partners, which he declined to name, plan to operate in the West African Economic and Monetary Union region, known by its French acronym UEMOA. The region enjoys relative political calm and a common currency, the West African CFA franc, backed by the French central bank, he said.

    Through the investment bank, the company aims to act as an adviser on corporate deals as well as sovereign and company issuances and private banking, said Cortina, speaking alongside Vasco Duarte-Silva, a former banker at Citigroup Inc. and Banco Santander who is leading the BDK Group in Senegal.

    Cortina says he felt the “special call of Africa” when visiting for the first time in the early 70s. While he made his wealth in construction more than four decades ago, he has a wide range of investments, from oil to dairy products, including a dairy venture in Nigeria. He also owned a farm in Kenya for several years and was married to a heiress in the 70s.

  • Diamond Cuts Salon opens shop

    Diamond Cuts Salon opens shop

    Diamond Cuts Salon, an upscale unisex salon, specializing in hair and scalp treatment and other beauty accessories, has opened shop in Lagos.

    The multi-purpose beauty outlet owned by American- trained Oluseyi Sofola and located at Kings Plaza, Adeniran Ogunsanya, Surulere, Lagos, offers services in all types of haircuts, wash and set, blow dry, relaxing, fixing extension, braiding and colouring.

    Other services available include hand and foot care like manicure, gel nail polish, acrylic, nail designing and pedicure as well as all types of facial and natural make-up, bridal, engagement, photo shoots, headgear tying and massaging.

    Sofola, a Theatre Arts graduate of Delaware University, USA, said the motivation to set up the shop was borne out of the desire to offer unique services to people in the areas of beautification and physical fitness.

  • AfDB, Ecobank, Diamond, UBA lift Benin with 1150billion CFA franc

    AfDB, Ecobank, Diamond, UBA lift Benin with 1150billion CFA franc

    The West African Development Bank (BOAD) has hinted of plans to raise XOF115 billion to support the 2014-2015 cotton season in Benin. Members of the banking pool include ECOBANK (Agent Bank), BOA, Banque Atlantique, BGFI, Diamond Bank, BSIC and UBA.

    The BOAD in its capacity as arranger is raising funds to support the cotton season in Benin for the third consecutive year. The agreement relating thereto was signed by and between Mr. Christian Adovelande, President of BOAD and the Managing Director of the Office national de soutien des revenus agricoles (National office for farm income support) (Borrower) and the Managers of local banks involved in the transaction.

    This agreement was signed as part of the mandate on technical and financial assistance entrusted to BOAD by the Government of Benin in February 2014 with the aim of mobilising funds for the 2014-2015 cotton seasons. BOAD succeeded in rallying around itself local banks to raise a facility of XOF115 billion, to which the local banking system contributed to the tune of 79 per cent.

    Funds mobilised will be used to cover financial needs during the 2014-2015 cotton season, including cotton purchase from producers, ginning as well as storage, evacuation and marketing of cotton fibre and by-products.

  • Diamond Bank Hosts first Woman Summit

    Diamond Bank’s Head, Micro Small and Medium Enterprise Propositions Chima Nnadozie has said the bank has restructured to focus on women.

    He spoke at the first Diamond Woman summit in Ibadan held at Mauve 21 Event Center, Ring road.

    He said the bank was working with women but is now prepared to take an advanced step with the Diamond Woman package targeted at women in all sectors.

    The event started with a lecture from Dr Tola Owolabi of the Enterprise Development Centre, Pan African University.

    Speaking on “Pricing:Getting it Right from the Beginning”, Owolabi said: “Pricing is one of the best strategy of advertising and promoting your business and optimality is the key to ensuring happiness between the businesswoman and her customer.

    The Regional Head, Southwest, Diamond Bank, Akin Ogunleye, said importance will be attached to empowering women because when they are empowered there will be development. He added that Ibadan was chosen for the first summit because the women are quite enterprising and very productive.

    “The invitation is not only for the Diamond Bank customers alone, because we believe that once a woman is really convinced of her benefits from a product then you have a good ambassador with that woman,” Ogunleye said

     

  • Miss African Diamond TV show launched

    IT was another moment of glory on Wednesday when Ebunola Resources unveiled Miss African Diamond, a reality TV show aimed at checking the shift in cultural values, at the Federal Housing Estate, Ipaja, Lagos.

    According to the organisers, the show is designed to restore cultural heritage and encourage exchange of cultures among African countries, thereby promoting African unity.

    Contestants will demonstrate the true African heritage, teach the world all sorts of African dishes, the nutritional value of African foods, as there will be debates on the differences between African traditional foods and the contemporary Western dishes.

    “We are poised to correcting the misplacement of priorities, as it relates to our languages, dressing, food and mannerism. We desire to deliberately reposition our perception of foreign ideologies and values,” said Adegbami Adewole, a deputy director, Ebunola Resources.

    Also, the Assistant Director of Training, Okafor Victor, stated that the whole essence of the pageant is to correct an imbalance. With entry forms entirely free and available on the pageant’s website, Okafor also revealed that the competition is open to females from 18 to 30 years.

    “We are looking at running the programme for about 10 weeks. But the strategic entry into the house will take about four or five days. Thereafter, winners will be ushered into the house. We are not here to contest. The aim is to unite Africa. Everyone who qualifies is a winner. To avoid scandals, the queen will emerge strictly by voting,” he further added.

    He also stated that though every contestant will win a prize, the 10 finalists will receive consolation gifts, while the winner will go home with N1million and a brand new car.

    Meanwhile, contingents from three African countries, including Ghana, Togo and Ivory Coast, are already available in the house, while more are expected to arrive the country soon.

    The pageant will be aired on Miss African Diamond TV as well as on terrestrial and cable stations.

  • CWG, MTN XaaS power Diamond Y’elloAccount

    Computer Warehouse Group (CWG) Plc has extended the MTN XaaS platform to power the Diamond Y’elloAccount in collaboration with Diamond Bank and MTN Nigeria. The technology firm said it is to further drive the cashless initiative of the Central Bank of Nigeria (CBN).

    MTN XaaS runs on indigenous software from CWG designed to provide efficient cloud based banking services.

    Diamond Y’elloAccount is a mobile banking product built on MTNXaas platform to enable MTN subscribers, including the unbanked and under-banked populace in Nigeria enjoy the banking services from Diamond Bank. The Diamond Y’elloAccount allows automatic account opening just at the dial of *710# by all MTN subscribers, presently put at 58.4 million.

    During the launch of this innovative service, the Managing Director/Chief Executive Officer, Diamond Bank, Dr. Alex Otti, said the move was aimed at deepening the cash-less initiative, considering that only about 40 million out of the estimated over 150 million Nigerians have been banked.

    He said the development would afford millions of Nigerians who have mobile phones but are alienated from banking activities due to procedures to seamlessly key into the formal banking system.

    Chief Technology Officer, CWG, Mr. James Agada, said Diamond Y’ello Account is riding on indigenous technology provided by the CWG. He said: “This technology and many others in the pipeline which include our SMERP platform, our PosApp solution and our teleport services all form part of the CWG 2.0 initiative where we are working with several partners to deploy solutions and services to the wider MSME and consumer markets.

    ‘’The teleport services have been announced with SES and will democratise digital broadcasting in Nigeria. Partners such as MTN and Diamond Bank are making these initiatives real. We expect CWG 2.0 to be a transformative programe for not just CWG but also the national economy.”

    Managing Director/Chief Executive Officer, MTN Nigeria, Mr. Michael Ikpoki, said the telco was ready to absorb the anticipated surge into its digital solutions, allaying fears of disruptions.

    During the MTNXaas launch,  founder/Chief Executive Officer, CWG Mr. Austin Okere said MTNXaaS is one of the technology platforms that the firm provides for operation enhancement.

    He said: “This is the beginning of so many innovations we are going to unveil; we are going to look at hospitals, hotels, insurance and all those who are locked out of being able to provide competitive services due to IT deficiency. We will develop suitable technology that will enhance their business growth. CWG and MTN will break the digital barrier.”