Thursday, May 17, 2012

DIAMOND BANK PLC REPORTS CONTINUED OPERATING PERFORMANCE IMPROVEMENTS IN FIRST QUARTER 2012


DIAMOND BANK PLC REPORTS CONTINUED OPERATING PERFORMANCE IMPROVEMENTS IN FIRST QUARTER 2012
Diamond Bank’s operating performance has continued to show significant improvement even as the bank reissues its first quarter 2012 results in line with the International Financial Reporting Standards (IFRS). The bank’s reissued results indicate it made a profit before tax of N7.8billion for Q1 2012.

According to a press statement made available to our correspondent, Group Managing Director/CEO of the Bank, Dr. Alex Otti, stated that the first quarter results prepared according to IFRS shows a consistent improvement in PBT growth indicates that the bank is on track towards delivering significant ROE in 2012. 

While the bank recorded a net interest income of N20.2 billion, operating expenses stood at N13.5 billion and profit before tax at N7.8 billion,. These figures  are consistent with the results prepared based on Nigerian General Accepted Accounting Practice (NGAAP) where the bank recorded  N18.1billion, N13.4billion and N7.5billion for net interest income, operating expenses and profit before tax respectively.

Said Dr. Otti: “Our customer base is growing with recurring monthly fee income improving and our growing retail liabilities have continued to sustain our low cost of funds. We have shown that we have a leading position in net interest margin which is sustainable. In addition, our operating efficiency is robust and yielding strong operating performance.”

Diamond Bank’s group balance sheet results for Q1 2012 indicate that its cash balances with Central Bank is N61.8 billion, loans and advances to customers are N433.5 billion, total assets are N855.3 billion and deposits from customers are N641.1 billion. These IFRS results are similar to the one prepared according to NGAAP where the bank recorded N61.7billion, N440.3 billion, N858.3 billion and N640.1 billion respectively. Indeed, the bank’s loans and advances to banks, and deposits from banks were uniform at N92.7 billion and N7.1 billion respectively for both standards.

 “We are delighted by these encouraging figures and will continue to maintain focus on growing our operating profitability at acceptable risk levels that ensure we deliver growing returns to our shareholders in 2012 and the years ahead,” concluded Dr. Otti.

DIAMOND BANK COLLABORATES WITH LAGOS BLACK HERITAGE FESTIVAL TO REWARD CHILDRENS’ CREATIVE TALENTS


DIAMOND BANK COLLABORATES WITH LAGOS BLACK HERITAGE FESTIVAL TO REWARD CHILDRENS’ CREATIVE TALENTS

Intent on supporting and growing the creative talents of the next generation, Diamond Bank Plc recently announced its collaboration with the Lagos Black Heritage Festival to sponsor the Vision of the Child Painting Competition. The Vision of the Child  is one of the key events of this year’s Lagos Black Heritage Festival which is running from April 2- 9, 2012.

According to a statement issued by the Head, Corporate Communications, Diamond Bank, Ms. Akpo Daniyan, Diamond Bank’s decision to sponsor the Vision of the Child Painting Competition of the Lagos Black Heritage Festival was informed by the bank’s commitment to capacity development, especially of the next generation.
Said Ms. Daniyan, “Diamond Bank is proud to sponsor an initiative that celebrates children, promotes their creative development and empowers them to share their vision of their country.”

The Paintings of the thirty Children who participated in the competition are currently being exhibited at Kongi’s Harvest Gallery, Freedom Park, Lagos Island. The Exhibition would culminate in the selection of the winners who would receive cash and non-cash prizes at the awards and dinner nite for the Lagos Black Heritage Festival holding on April 8 at the Civic Centre in Victoria Island, Lagos.

It will be recalled that the painting competition was flagged off by Nobel Laureate, Prof. Wole Soyinka on March 17 2012 at a press conference at Freedom Park, Lagos Island. Also in attendance at the press conference were the Lagos State Commissioner for Culture and Intergovernmental Relations, Mr. Disu Holloway; and Executive Director, Corporate Banking and Regional Businesses, Lagos/ West, Diamond Bank, Mr. Uzoma Dozie. 

Diamond Bank’s sponsorship of the Vision of the Child Painting Competition of the Lagos Black Heritage Festival is one of the bank’s sponsorships of activities that celebrate arts and culture in the country.

DIAMOND BANK AND VISA DEMONSTRATE INNOVATION IN CARD DESIGN


DIAMOND BANK AND VISA DEMONSTRATE INNOVATION IN CARD DESIGN
Visa, one of the world’s leading payment solution providers, has partnered with Diamond Bank Nigeria PLC to launch a premium card service to provide customers with increased credit card capabilities, convenience and rewards.
This offering brings the first diamond-embedded Visa card to Nigeria and the African continent. Aptly named the Visa Diamond Card, this card forms part of Diamond Bank’s private banking proposition known as Diamond Privilege, a service that caters to the needs of high net worth individuals.
The exclusive Visa card, which is available to Privilege Banking clients by special invitation only, holds an authentic certified diamond which demonstrates the level of thought and detail that has gone into its design. The card was conceptualised to offer added value to Privilege Banking clients, allowing them to transact with ease whilst getting rewards in return.
Some of the benefits of the card include easy access to credit and higher limits for larger transactions, as well as a dedicated relationship manager to take care of their every need. As it is a card for Privilege Banking clients, the card offers a reward scheme that gives customers access to numerous airline lounges, free flights and upgrades with the bank’s local and international airline partners.
Ms. Akpo Daniyan, Head of Corporate Communications for Diamond Bank, said: “We named it the Diamond Card because true to its name, it has a real diamond in it. Our clients deserve the very best and so we wanted to do something special.  Working with our partners, Secure ID and Visa, we added a real diamond stud and implanted the Diamond Bank name with real platinum. Our customers who already have this card tell us how proud they are to use it.”
Ade Ashaye, Country Manager for Visa West Africa, said: “We are very proud to partner with Diamond Bank on this exclusive card which is the first card in the market, and in Africa, to have a real diamond embedded. The card can be used at the point of sale, at ATMs and online with the added benefit of Verified by Visa security when transacting [online].”
Speaking further on the partnership between Diamond Bank and Visa, Ms. Daniyan said: “Our partnership with Visa is based on a mutually beneficial professional relationship.  The bank prides itself on being an innovator in payments and retail banking. We find it refreshing to work with like- minded organizations such as Visa, who are there to provide expert support and advice on projects such as this one.” 
Diamond Bank issued one of the first truly international revolving Visa credit cards in Nigeria and has continued to innovate since then.  This card is just another great example of the array of unique products and services the bank offers its customers.

DIAMOND BANK SPONSORS ENTREPRENEURS TO THE PAN AFRICAN UNIVERSITY


DIAMOND BANK SPONSORS ENTREPRENEURS TO THE PAN AFRICAN UNIVERSITY 

As part of its contribution towards economic development in Nigeria and in living up to its reputation as a frontline organization in the provision of support for Micro, Small and Medium Scale Enterprises (MSMEs), Diamond Bank Plc has announced the selection of fifty entrepreneurs for the second phase of its Building Entrepreneur Today series tagged BET 2.

According to the Head, Corporate Communications, Diamond Bank Plc, Ms Akpo Daniyan, the bank is once again partnering with the Enterprise Development Centre of the Pan African University to teach budding entrepreneurs various skills for running profitable businesses. 

Said Ms Daniyan: “Diamond Bank has always demonstrated its commitment to help entrepreneurs develop capacity to run profitable businesses. The BET programme has proved to be a very successful means to achieving this. That is why we are once again sponsoring resourceful entrepreneurs to learn how to run their businesses successfully. It is our hope that they will make good use of the lessons learnt and run thriving businesses in the not-too-distant future.”

The BET programme is in three phases. In the first stage, from a host of applicants, fifty entrepreneurs are selected to undergo a thirty day intensive Entrepreneurial Management Training. In phase two, fifteen entrepreneurs emerge and embark on a Business Development Support programme. In the final stage, 5 entrepreneurs will be selected for the Next Level Award and they will be entitled to N3million each and a nine month Support Service provision by the bank.

Continues Ms Daniyan, “In addition to the BET programme, Diamond Bank boasts of the biggest portfolio of programmes supporting the Micro Small Medium Entrepreneurs (MSME) sector. These include our Diamond BusinessXpress Seminar, where entrepreneurs come to learn new ways of running successful businesses; Diamond BusinessClinic, where they get a one-on-one chance to meet with Consultants in various fields; and the Diamond BusinessXpress Club which affords entrepreneurs the opportunity to network and exchange business ideas.”

It will be recalled that the first edition of the BET programme took place in 2010 when Diamond Bank empowered five entrepreneurs with a seed capital of N3 million each after they emerged tops in the business training at the Enterprise Development Centre (EDC) of the Pan African University.
“Our commitment to this initiative in particular, and support for MSMEs in general, is predicated on the fact that indigenous business will stimulate growth in the nation’s economy,” concludes Ms Daniyan.

DIAMOND BANK PARTNERS WITH FOUNDATION TO BRING SUCCOR TO THE LESS PRIVILEDGE

DIAMOND BANK PARTNERS WITH FOUNDATION TO BRING SUCCOR TO THE LESS PRIVILEDGE

Diamond Bank Plc has once again partnered with the Daniel Ogechi Akujobi Memorial (DOAM) Foundation to raise funds for the execution of the foundation’s programmes. This was made known on Saturday, 10 March 2012 at the cocktail event heralding the end of the 2012 Charity Golf Tournament in Ikoyi Club 1938.

In his remarks at the cocktail event which also doubled as the prize presentation ceremony, Chairman of the foundation, Mr. Daniel Akujobi, said the event was put together with the help of sponsors in a bid to raise funds for the foundation. He thereafter highlighted some of the foundation’s activities around the country. These include the Daniel Ogechi Akujobi Memorial Accident and Emergency Centre in Mowe off the Lagos-Ibadan Expressway, which was constructed in partnership with Diamond Bank Plc; donations of orthopaedic mattresses and pillows to equip sick bays in public schools in Lagos state; provision of scholarship to over 40 students in primary, secondary and tertiary institutions nationwide amongst others.

Mr. Akujobi, while thanking sponsors and members of the Ikoyi Club 1938 Golf section for the huge support they have given the foundation over the years, said proceeds from the charity golf tournament would serve to further equip the Accident and Emergency Centre. He said the centre would be opened as soon as they secure the go-ahead from the Ogun state government.

The chairman of the Ikoyi Club 1938 Golf section - Mr. Ebiyemi Pinnick, who had earlier spoken, enjoined members of the public to donate generously to the DOAM Foundation as it seeks to help the less privileged access better health care and educational facilities. He lauded the foundation’s initiative in providing facilities without the help of the government and asked others to emulate it.

Meanwhile, Diamond Bank Plc has expressed its delight in partnering with the successful charity golf tournament. This was made known by the Head, Corporate Communications of the bank, Ms Akpo Daniyan. In a brief chat with our correspondent on Diamond Bank’s involvement with the foundation, Daniyan said the bank was pleased to partner with the foundation again as the DOAM’s vision aligns with the bank’s Corporate Social Responsibility goals.

Said Daniyan, “Diamond Bank finds partnering with the DOAM Foundation rewarding on many fronts. Not only is the foundation providing healthcare for the disadvantaged and downtrodden across the country, it also offers them a chance for a better tomorrow by granting them educational aid. Our involvement with the foundation is one of the many ways we show we are a caring bank.”

The Daniel Ogechi Akujobi Memorial (DOAM) Foundation was set up in 2006 in memory of Master Ogechi Akujobi who died from injuries he sustained in a ghastly motor accident on his way back to school on the Lagos – Ibadan expressway at the tender age of 13 years. He was the only son of his parents.