I
can't categorically say what's happening within Diamond Bank but this news may
come as a shock to their customers.
ccording
to the Vanguard :
Access
Bank Plc has finally acquired Diamond Bank Plc. According to insiders, the
official announcement of the transaction will be made in the course of the week
by the Central Bank of Nigeria, CBN, according to TheCable. Another source said
confirmed that the deal has been sealed, awaiting final ratification from the
regulatory body.
The acquisition was midwifed by the CBN in a
bid to further consolidate the banking industry, sources informed. Last week,
Diamond Bank announced its decision to drop its international operating licence
to focus on national operations following capitalisation issues.
Uzoma
Dozie, the bank’s Chief Executive Officer, confirmed the development in a
statement released on Friday. Dozie had said: “With this approval, the bank will
cease to operate as an international bank. “The re-licensing as a national bank
supports Diamond Bank’s objective of streamlining its operations to focus
resources on the significant opportunities in the Nigerian retail banking
market, and the economy as a whole.
The
move follows Diamond Bank’s decision to sell its international operations,
which included the disposal of its West African Subsidiary in 2017 and Diamond
Bank UK, the sale of which is currently in its final stages.” Broadcasting: NTA
drops foreign satellites for NiGCOMSAT1R “The change to national bank status
also enables the bank to maintain a lower minimum capital requirement of 10 per
cent, as against 15 per cent required for international banks.” The bank
recorded its worst month on record in November with share plunging to 0.61k per
unit on November 30, 2018.
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