Wednesday, 9 January 2019

Access Bank Acquires Diamond Bank


--DOWNLOAD BLOG MALL NIGERIA APP--
Connect all your favorite blogs and website in one app. Get latest post on the go
Download on Playstore Here


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.

Access Bank Acquires Diamond Bank

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.

Weeks ago, 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.”

Diamond Bank Q3 2018 report had showed that the bank was under some financial stress with profit after tax falling from N3.9 billion in 2017 to N1.6 billion.



--DOWNLOAD BLOG MALL NIGERIA APP--
Connect all your favorite blogs and website in one app. Get latest post on the go
Download on Playstore Here

comment here

SPONSORED LINKS
AD-Place Ur Text Link Advert Here/Advertise Here
AD-You Can Be A Model Too! Click Here To Sign Up


Get Our Latest Post via Sms. Kindly sms FOLLOW BLOGMNIG to 40404. On Any Network And Sms is free.

Place Your Advert Here Place Your Advert Here

Have Something Interesting/Informative you want us to Post? Send to
blogmnig@gmail.com
Previous Post
Next Post


I'm a passionate Blogger. I spend most of my time on the internet, Researching, Reading and Blogging || i Love Hip Hop and RnB E.T.C || Always Share.|| ****Blog Mall Nigeria****
Related Posts

0 comments:

Disclaimer: Although every comment is appreciated, Opinions expressed in comments are those of the comment writers alone and does not reflect or represent the views of Blog Mall Nigeria. Keep in mind that comments are moderated and may take some time to appear. All spam comments will be deleted. Thanks for understanding!

FOR Adverts or Articles email BMNADVERTS@GMAIL.COM, BLOGMNIG@GMAIL.COM OR CALL 07039732276