Connect with us

BUSINESS

Diamond Bank Reaffirms commitment to Quality Service Delivery, Shareholder Value as it Drives its Retail Strategy

Avatar

Published

on

Diamond-bankk2

Despite the harsh operating environment and strict regulatory framework which calls for caution in the financial industry, Diamond Bank reaffirms its commitment to quality service delivery, sustenance of strong fundamentals and stable profitability for its shareholders.

In a press release made available to the media, 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.

BUSINESS

UBA Partners LCCI For 2019 Lagos International Trade Fair, Promises Customers 20% Discount On Registration

Peter Okunoren

Published

on

Pan African financial services institution, United Bank for Africa (UBA) Plc, and the Lagos Chamber of Commerce and Industry(LCCI) have partnered to organize the 2019 edition of the Lagos International Trade Fair.

The Fair, which holds between November 1st and 10th, 2019, is the 33rd edition and is expected to provide an avenue for networking and other business opportunities that will assist to catapult business activities in Africa’s largest and busiest city, Lagos and in Nigeria.

UBA, which is the headline partner will be working together with LCCI, to provide a veritable platform that is intended to grow both domestic and international trade. It further presents participants and visitors with opportunities to seal medium and top business deals.

In line with UBA’s unflinching support to the growth of small and medium enterprises (SMEs), the bank is giving a 20% discount to its Small and Medium business customers who register to attend the fair.

UBA’s Group Head, Marketing, Mrs. Dupe Olusola, who expressed excitement at the partnership, noted that the bank, with its extensive spread across Africa and other major economies of the world, is always on the lookout for partnership opportunities that will benefit the business environment and the economies where it operates.

Olusola noted that the Bank is delighted as this year’s Lagos International Trade Fair is coming after a very successful organization of UBAmarketplace by the Bank in Abuja, where over 120 SMEs from 20 African countries exhibited their products, attracting over 50,000 footfalls.

She said, “UBA, the Pan African financial institution, has branches in 20 African countries, including the United Kingdom, the United States of America and France and has always been involved in activities that aim to strengthen business connections and networks across key economies.

“Thus, we have decided to partner with LCCI to promote this year’s fair which is in its 33rd edition because the Lagos International Trade Fair has become a genuine avenue for both domestic and international trade through business to business meetings, product launches, enlightenment opportunities for government agencies’ programmes, and international trade partnership deals across borders” she explained.

She added that the partnership will also offer the bank the opportunities to showcase its array of products to its teeming and new customers, adding that the bank will set up stands at various points to serve its customers and attend to various concerns.

The Director-General of the Lagos Chamber of Commerce and Industry, Mr. Muda Yusuf who praised the collaboration between both institutions, noted that it is a partnership that is expected to yield great benefits, owing to the fact that the LITF hosts an average of 2,000 exhibitors annually, with over 200 foreign exhibitors from 16 countries.

He also added that arrangements have been put in place to make this year’s fair even bigger and better than the previous editions, adding that already, existing and potential exhibitors have been responding positively to register and participate at the Fair.

“We at LCCI believe that this is part of the bold initiatives of the bank with a corporate culture founded upon strong organizational values and performance-driven operating standards”, Yusuf said.

Yusuf stressed that the Chamber would maintain the brand promise of the Fair, with the theme ‘Connecting businesses, Creating value’, adding that this will be sustained this year in all its marketing campaigns.

Continue Reading

BUSINESS

Win N200,000 Cash Prize In The Zenith Bank #ZBZeroBalanceChallenge

Gbemileke Ajayi

Published

on

Win big in the Zenith Bank #ZBZeroBalanceChallenge ⠀
How to win?
(1) ‎Post your one minute video on Instagram before 12 noon on Sunday the 18th of August 2019.⠀
(2) Use the hashtag #ZBZeroBalanceChallenge and tag + follow @zenithbankplc on Instagram.⠀
Click Here to view and download the Zero Balance song.⠀
Note!  ‎
  • Winners will be announced on Tuesday the 20th of August 2019.
  • The participant must have zenith zero account
  • To Open zero account, kindly dial #966*0# and follow the prompts

Prizes🎁

1st prize: N200,000 
2nd prize: N100,000 
3rd prize: N50,000 ‎
The promos run from Sunday the 18th of August 2019.
Continue Reading

BUSINESS

Zenith Bank Introduces Free Banking For Senior Citizens

Gbemileke Ajayi

Published

on

Zenith Bank Plc has introduced the Zenith Timeless Account, which allows Nigerians aged 55years and above to enjoy free financial services.

The Zenith Timeless Account is a product offering targeted at senior citizens (aged 55 years and above), pensioners, potential and existing retirees, that allows them bank for free and conduct banking transactions with ease.

Holders of the Zenith Timeless Account enjoy interest on Savings Account and are not required to pay maintenance, debit card, cheque book, or SMS notification fees. They also enjoy priority treatment at all Zenith Bank branches nationwide, and have access to a wide range of travel and holiday offers on tickets.

Do you have an old saving or current account with Zenith Bank and you are above 55 years old?

Quickly reactivate the account and begin to enjoy all the benefits of the Zenith Timeless Account.

You can visit the bank’s website, www.zenithbank.com , or any of our branches to open the account or reactivate your old account.

 

 

Continue Reading

Most Popular