Diamond bank latest news

Here are some of the latest news and updates about Diamond Bank:

Recent Developments:

  1. Merger with Access Bank: Diamond Bank and Access Bank announced a merger agreement in September 2018, which was completed in March 2019. The merged entity is now known as Access Bank Plc.
  2. Restructuring: As part of the merger, Diamond Bank's operations were restructured, and some of its assets and liabilities were transferred to Access Bank.
  3. Job Cuts: Following the merger, Diamond Bank laid off some of its employees, with reports suggesting that over 300 staff members were affected.
  4. Branch Closures: The bank also closed some of its branches, with reports suggesting that over 50 branches were shut down.

Recent News Articles:

  1. "Diamond Bank's Merger with Access Bank: A New Era for Nigerian Banking" (The Guardian, March 2019)
  2. "Diamond Bank's Restructuring: A Necessary Evil for Growth" (ThisDay, April 2019)
  3. "Diamond Bank's Job Cuts: A Blow to Nigerian Economy" (Premium Times, May 2019)
  4. "Diamond Bank's Branch Closures: A Sign of Things to Come" (BusinessDay, June 2019)

Regulatory Updates:

  1. Central Bank of Nigeria (CBN) Approval: The CBN approved the merger between Diamond Bank and Access Bank in February 2019.
  2. National Insurance Commission (NAICOM) Approval: NAICOM also approved the merger, with reports suggesting that the commission was satisfied with the banks' compliance with regulatory requirements.

Financial Performance:

  1. 2018 Financial Results: Diamond Bank's 2018 financial results showed a net loss of N36.4 billion, compared to a net profit of N14.4 billion in 2017.
  2. 2019 Financial Results: The bank's 2019 financial results have not been released yet, but analysts expect the merged entity to report improved financial performance.

Please note that the information provided is subject to change and may not be up-to-date. It is always a good idea to check with reputable sources for the latest news and updates on Diamond Bank.