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Diamond emerge African Bank of the Year

Category: Investors NewsBeat

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Diamond emerge African Bank of the Year


Proshare NI
June 25, 2009 at 16:41 GMT
Diamond Bank Plc has emerged “African Bank of the Year” by winning the prestigious African Leadership Magazine’s award in the African Commerce and Industries Awards, 2009. African Leadership is an International magazine that profiles African leaders, their achievements and impact in the society, using international indices and benchmarks to measure performances.
In a congratulatory letter signed by Chief (Hon) Dugdale Badon, the Chairman, African Leadership Advisory Council, while announcing the award to Emeka Onwuka, Group Managing Director (GMD) of the Bank.
The organisers affirmed that the emergence of Diamond Bank was as a result of polling the highest sets of votes cast out of a shortlist of the most nominated names for this category, during an extensive online survey on the Magazines website, and Trans African research and polls conducted by African Leadership on-ground survey team.
“The award bestowed on the Bank was also in recognition of its outstanding contributions to the global economy, African growth and prosperity, and outstanding industry leadership” Chief (Hon) Badon said.
The organisers affirmed that Diamond Bank will be honoured with the award in a colorful ceremony billed to hold on Thursday July 30 2009 at the LAICO Grand Regency Hotel Nairobi, Kenya, as part of the activities marking the “African Commerce and Industries Conference, Exhibitions and Awards” slated for 29-31, July, 2009, with the theme “African Industries and the Global Financial Meltdown: Strategies for growth and recovery”.
Meanwhile, Mr. Charles Udoh, the Head Corporate Communications of Diamond Bank, in his reaction attributed the milestone to the support and confidence reposed in the bank by customers and shareholders.
Udoh also commended the Board of African Leadership Advisory Council and Board of its Editors and other stakeholders for recognising Diamond Bank’s contribution towards shaping the Nigerian financial landscape in particular and the African continent in general.
As earlier reported, Diamond Bank had emerged the Nigerian Bank of the Year at the 14th Annual Thisday Awards for excellence. Also last year, Diamond Bank was voted The Most Improved Bank of the Year at the same Annual ThisDay Award Festival.
The Bank had also won the Best Bank in Mergers and Acquisition in year 2007 following the seamless takeover and integration of former Lion Bank in year 2005, adjudged to be the first acquisition consummated by any bank in Nigeria during the Banking Consolidation.
However, Industry Watchers affirm that the  current award is an attestation to Diamond Bank’s excellent performance in a year in which it rewarded investors with both dividend and bonus payment.
Also as earlier reported, in year 2008, Diamond Bank became the first African Bank to be listed on the Professional Securities Market (PSM) of the London Stock Exchange (LSE) following the official listing of its $500million Global Depositary Receipts (GDRs).
As part of its universal banking strategy, Diamond Bank has investments in promising financial services sub-sectors, including insurance, mortgages, and pension fund custodians. Over the years, these have improved the growth, earning mix, profitability, and investors value of the Bank.

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