Tag: Diamond Bank
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Diamond Bank appoints new chair to oversee merger arrangements with Access Bank
Diamond Bank Plc on Thursday named Mr. Dele Babade as its acting chairman. He succeeds Mr. Oluseyi Bickersteth, who recently resigned as a director and chairman of the bank. In a statement signed by the bank’s Company Secretary and Legal Adviser, Uzoma Uja, the bank indicated that Babade’s appointment took effect on December 24, 2018.…
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Shareholders list conditions to approve Diamond, Access Banks merger
The proposed merger between Diamond Bank and Access Bank is still generating mixed reactions from different stakeholders. Some hours after the information was confirmed by both banks, shareholders of Diamond Bank gave their views on the issue. It is important to note that before the merger can scale through, both shareholders of the financial institutions…
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Merger: We are yet to receive official notification from Access, Diamond Banks – SEC
The Securities and Exchange Commission (SEC) on Monday said it was yet to receive official notification of the proposed merger between Access Bank Plc and Diamond Bank Plc. The apex capital market regulator, insisted that only the formal application will form the basis of regulatory approval. “The SEC received on Monday, Dec 17 2018, notice…
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Access Bank acquires Diamond Bank
Access Bank, a Nigerian multinational commercial bank, owned by Access Bank Group, has finally acquired Diamond Bank. The official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN), insiders told TheCable. According to the report, the acquisition was midwifed by the CBN in a…
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Diamond Bank woes worsen as customers lament non-payments
Customers of Diamond Bank Nigeria using the bank’s mobile app eSUSU feature for group and personal savings have lamented non-payments, indicative of a probable financial crisis at the bank. TheNewsGuru (TNG) reports this is following downgrade of Diamond Bank, reflecting uncertainty over its solvency and liquidity in view of very weak asset quality, highly vulnerable…
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JUST IN: Diamond Bank speaks on ‘acquisition talks’ with Access Bank
The management of Diamond Bank on Monday reacted to news making the rounds that it is in talks with Access Bank for acquisition. The bank in a statement signed and released by its secretary/legal adviser, Uzoma Uja on Monday said it is not in merger or acquisition discuss with any financial institution for now. It…
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Access Bank set to acquire Diamond Bank
Indications emerged that Access Bank is set to add Diamond Bank’s portfolio to its assets in the next few months. Talks on the acquisition are on, according to sources, who said the fusion is set for the first quarter of next year. According to a report by The Nation, both financial institutions have reached an…
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JUST IN: Diamond Bank chairman, three other directors resign
The chairman and three non-executive directors of Diamond Bank have resigned from their positions. This was confirmed by the bank in a letter sent to the Nigerian Stock Exchange. In the letter titled “RESIGNATION OF CHAIRMAN AND NON-EXECUTIVE DIRECTORS,” the bank notified “the Nigerian Stock Exchange (NSE) and the public that the following…
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Diamond Bank to conclude sale of UK subsidiary before year end – Official
The Managing Director/Chief Executive Officer (CEO) of Diamond Bank Plc, Mr Uzoma Dozie, has disclosed that the bank will conclude the sale of its subsidiary in the United Kingdom before the end of this year. According to the bank chief, the exercise is still under the change of ownership process. Recall that earlier this year,…
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Diamond Bank profit after tax declines by 77.6 per cent in second quarter
Diamond Bank Plc has released its unaudited financial statements for the period ended June 30, 2018. During the period, the profit after tax went down by N6.2 billion or 77.6 percent to N1.8 billion from N8 billion, while the profit before tax declined by 69.3 percent from N9.5 billion to N2.9 billion. However, the gross…