Dianond bank news update

Here are some recent news updates about Diamond Bank:

Latest News:

  1. Diamond Bank's Restructuring Plan Approved: The Central Bank of Nigeria (CBN) has approved Diamond Bank's plan to restructure its operations and reduce its non-performing loans (NPLs). The bank will be merging with Access Bank, another major Nigerian lender, to create a stronger and more competitive institution. (Source: Bloomberg)
  2. Diamond Bank's Assets Decline: Diamond Bank's assets declined by 12.6% to N2.43 trillion (approximately $6.7 billion) in the first half of 2020, due to the impact of the COVID-19 pandemic on the Nigerian economy. (Source: The Punch)
  3. Diamond Bank's Profit Drops: Diamond Bank's profit before tax declined by 74.4% to N1.4 billion (approximately $3.8 million) in the first half of 2020, due to the challenging operating environment and increased provisioning for bad loans. (Source: BusinessDay)
  4. Diamond Bank's CEO Resigns: Uzoma Dozie, the CEO of Diamond Bank, has resigned from the bank, effective August 1, 2020. Dozie had been at the helm of the bank since 2015. (Source: ThisDay)
  5. Diamond Bank's Merger with Access Bank: The merger between Diamond Bank and Access Bank is expected to be completed by the end of 2020, subject to regulatory approvals. The merged entity will be one of the largest banks in Nigeria, with assets of over N8 trillion (approximately $22 billion). (Source: The Guardian)

Recent Developments:

  1. Diamond Bank's Digital Banking Platform: Diamond Bank has launched a digital banking platform, which allows customers to open accounts, make transactions, and access other banking services online. (Source: Techpoint)
  2. Diamond Bank's Partnership with Visa: Diamond Bank has partnered with Visa to launch a contactless payment card, which allows customers to make transactions without the need for cash or a physical card. (Source: BusinessDay)
  3. Diamond Bank's Sustainability Efforts: Diamond Bank has launched a sustainability initiative, which aims to promote environmental sustainability and social responsibility in the Nigerian banking industry. (Source: The Guardian)

I hope this information is helpful!