DIAMONDBNK Declares N1.79bn Profit in Q2 2018 Results,(SP:N1.40k)

Proshare

Monday, July 30, 2018 / 5:31PM/ NSE

Proshare Nigeria Pvt. Ltd.

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Today, Diamond Bank released its unaudited half-year financial result. Commenting on the results, Chief Executive Officer, Uzoma Dozie said: “At a macro level the Nigerian economy continued to record improvements because of stable, higher than anticipated oil prices. We have witnessed 15 months of expansion reflected in monthly PMI data but investor sentiment has remained mixed caused in part by the election season factor. We have capitalized on the positive macro environment to sustain interest income in the short run with positive prospects for growth, and have made progress in growing non-interest income.

Importantly, we have continued to build awareness of Diamond Bank in the wider financial ecosystem to develop new frontiers in retail banking. Amongst this activity were the Beauty Souk and TechFest events, targeted at entrepreneurs and emerging businesses in the fashion and technology sectors. Our partnership with Lagos Business School’s Entrepreneurs Development Center to support young entrepreneurs continued with the “Building Entrepreneurs Today” program.

In addition to retail banking, we are investing more resources in our mid-market business banking services to seize the opportunities emerging in that segment. In the second half of 2018, these investments will lead to improved profitability overall.

Despite a tough six months being reported, the outlook for 2018 remains bright for the bank as we continue to focus on a return to strong profitability and improvement in other KPIs.”

 

 

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