| Stock & Analyst Updates |    4306 VIEWS  |
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Monday, November 06, 2017 5:56PM /
Proshare Markets
Diamond Bank Plc held its Q3’17 Investors and
Analyst Conference Call Earnings Presentation. Proshare NG participated along
with leading market analysts and professionals.
The management of the bank stated that the
naira, within the macroeconomic environment, stabilizes after consistent CBN
interventions and in foreign reserves just as oil productions also stabilizes
as attacks on oil and gas infrastructures reduces while prevalent high food
prices remain a concern amidst slowing inflation rate. The economy was said to
be still vulnerable as output in many sectors are still negative.
Key developments around the bank’s 2017
financial year reflected that impairment charges decreased year on year due to
strengthened risk management and credit process yielding results. The bank’s
net interest income increased year on year whilst non-interest income declined
as the bank expects increased transactions and product offerings on digital
platforms to improve non-interest revenue in the medium to long term.
According to the
bank, its retail banking is delivering the strategy as its retail loan
portfolio remained flat Q-o-Q but declined by N14 billion Y-o-Y. This reflects
a conservative approach to underwriting with many loans of a short term nature
i.e. less than 12 months. The bank’s deposits declined Y-o-Y and Q-o-Q, reflecting attractive government
securities while the Mobile banking share of transactions increased Q-o-Q and
Y-o-Y as branch banking continues to decline. Thus, digital service delivery is
now preferred.
In a nutshell, below are the key takeaways from
the Q3 2017 earnings presentation made by the bank’s management;
1.
2. The bank’s flagship app, Diamond Mobile continues to
deliver conveniences in banking to its customers with over 2.6m customer
on the platform. Over 160,000 signed on in Q3 2017 alone.
3. The bank recorded drop in the number of accounts driven
by internal recategorization of accounts and not as a result of customers
leaving the bank.
4. The bank’s gross loan breakdown by business segments
showed that corporate banking accounted for 83%; business banking 11% ;and
retail banking 6%; and
5. Its gross loan breakdown by sectors also showed that
the oil and gas sector accounted for 40% of the group’s lending at
September 2017.
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Bank Reported Pre-tax and After-tax Losses of -N4.1bn and -N2.3bn Respectively
in Q3 2017
3.
DIAMONDBNK
Declares N5.91 billion PAT in Q3 2017 Result,(SP:N1.02k)
4.
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Bank Plc Announces Closed Period and Board Meeting
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Bank Plc - Best Foot Forward in H1 Still?
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7. Diamond
Bank Plc Reports Q2 2017 Results – OPEX Grew by 13% YoY
8. Diamond
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9. Diamond
Bank Plc Announces Closed Period and Board Meeting
10. Diamond
Bank Plc Appoints Ms. Uzoma Uja as Company Secretary and Legal Adviser
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