DIAMOND BANK RECEIVES FINANCIAL INSTITUTION OF THE YEAR AWARD

Head, Infrastructure &Transport, Diamond Bank Plc., Mr. Ehianeta Ebhohimhen, receiving the Financial Institution of the Year Award from Secretary, Petroleum Technology Association Of Nigeria (PETAN), Mr. Dapo Oshinusi (right), at the PETAN Industry Achievement Awards of Excellence  celebration in Lagos recently.

Diamond Bank Plc, a leading commercial Bank in the country has received the financial institution of the year award from the Petroleum Technology Association of Nigeria (PETAN).

The award which was presented by the association during the recent 2013 PETAN Industry Achievement Awards in Lagos was in recognition of Diamond Bank’s support for various indigenous Oil and Gas companies in the country.

PETAN is a non-profit organization whose members are Nigerian Oil Service Companies operating in the Upstream and Downstreamtechnicalservices sectors of the Nigerian Oil and Gas Industry. Top on its agenda is to promote the domestication of petroleum technology by striving for fair and extensive patronage of the efficient and competitive indigenous Nigerian Oilfield Service companies.

According to Mr. Emeka Ene, Chairman of PETAN, Diamond Bank’s awardas the financial institution of the year was an unprecedented feat which is a testimony to its funding support to local companies.

Ene noted that after a survey of all the commercial banks in the country, Diamond Bank emerged as the most consistent bank in the support of indigenous companies in the oil and gas sector of the economy.

Speaking to newsmen at the event, the Group Managing Director/Chief Executive Officer, Diamond BankPlc, Dr. Alex Otti, represented by Head, Infrastructure and Transport, Diamond Bank Plc, Mr. EhianetaEbhohimhen, ascribed the award to the Bank’s well defined operating strategy, the commitment of the employees and adherence to values that include hardwork, discipline, a passion for excellence and a service focused culture.

Otti noted that the award was a further demonstration of the Bank’s commitment to grow the economy and it is positive the Nigerian public appreciates the Bank’s activities.

He also expressed his deep appreciation for the recognition and pledged his organization’s continued support for the local content initiative.

Also, Head Energy, Diamond Bank Plc, Mr.LuqmanAgboola, said the Bank has done a lot to support the Nigeria indigenous companies in the Oil and Gas sector.

“As a matter of fact, indigenous companiesaccount for 90 per cent of our loan portfolio in Diamond.One thing that sets us apart in Diamond is that we have the people that understand the industry, and because of that we crave to add value to the economy. Winning the award shows that members of PETAN appreciate what we were doing to support the oil and gas industry.We are excited at receiving this award and we will continue to do more do develop our Oil and Gas industry in the future,” he said.

It will also be recalled that Diamond Bank has won the award of the Best Oil and Gas Investment Company in Africa by World Finance Magazine for the second year in a row.

DIAMOND BANK PARTNERS MTN ON NEW RETAIL SERVICE

L-R  Chief Executive Officer (CEO), MTN Nigeria, Mr. Michael Ikpoki and Group Managing Director (GMD), Diamond Bank Plc, Dr. Alex Otti during an engagement to formalize a new retail strategic partnership towards the launch of the Diamond Y’ello Account in Lagos.

A comprehensive Memorandum of Understanding, MOU, to accelerate the launch of a hybrid bank account, the Diamond Y’ello Account that offers an unparalleled combination of financial, telecom, loyalty and lifestyle benefits has been jointly signed by Diamond Bank Plc. and MTN Nigeria. Tagged the Diamond Y’ello Account, the service allows customers to open a Diamond Bank account conveniently from their MTN lines even as the account also offers interest earning benefits as well as access to micro credit. In addition, customers will enjoy friendly call rates and earn loyalty points as they carry out transactions.

Group Managing Director/ CEO of Diamond Bank Plc, Dr. Alex Otti said, “One of the major benefits of the Diamond Y’ello Account is that as soon as a customer opens the account from their mobile phones, transactions are done with ease and convenience via their mobile phones. With nearly 100% mobile phone penetration in Nigeria, many more un-banked and under banked Nigerians, regardless of their location, can

now enjoy access to banking with this novel service.”

According to MTN’s Chief Executive Officer, Michael Ikpoki: “We are absolutely delighted once again to be offering our existing and potential subscribers a new and innovative product that will most definitely change their life styles and the way they manage their finances. We are really excited about Diamond Y’ello Account, and we plan to make use of our existing network and infrastructure all over the country to ensure that we reach as many people as possible especially those who do not have access to banking services.”

IFC PARTNERS DIAMOND BANK TO DEVELOP AGRICULTURAL FINANCING IN NIGERIA



(L-R): Executive Director, South Business, Diamond Bank PLC, Victor Ezenwoko

and Financial Markets Manager, Sub-Saharan Africa, IFC, Ian Weetman signing

the technical assistance and advisory agreement to build Diamond Bank’s capacity

to increase access to finance for agriculture small and medium enterprises in Nigeria recently.



International Finance Corporation (IFC), a member of the World BankGroup, has signed a partnership agreement with Diamond Bank Plc for the bank's agricultural financing activities.
The partnership which was sealed on Wednesday at the Bank’s corporate headquarters in Lekki, Lagos is designed to provide advisory services by IFC to Diamond Bank on strategy, product development and risk management, and help develop a financing model to viably lend to small and medium agric-businesses. It will also help the bank increase access to finance in Nigeria’s agricultural sector by up to $33 million (about N5.1 billion) over the next two years, strengthening a vital but severely under-financed sector in Nigeria’s economy and boosting small businesses.

The projected lending will be extended to small and medium enterprises across the sector, including livestock farmers, producer groups, distributors, processors, traders and retailers. It will also target almost 2,000 small holder farmers.

Commenting on the agreement,Dr. Alex Otti, Group Managing Director/CEO, Diamond Bank PLC, said, “Diamond Bank has always demonstrated market leadership in the provision of innovative financial services and solutions to all segments of the society. Through this partnership with IFC, we are better positioned to serve a faster growing share of Nigeria’s newly emerging bankable population in the agricultural sector, and create more growth opportunities for the players as well as the economy.”

Mr. Ian Weetman, Manager, Financial Markets, Sub-Saharan Africa, said the agreement reflects the priority the World Bank group placed on agric development in the African continent. Weetman noted that Diamond Bank was one of the financial institutions in Sub-Saharan Africa that IFC had maintained a long standing relationship with to create value for SMEs and agriculture. “Increasing growth and employment in the agricultural sector is a critical objective for IFC in Nigeria and Sub-Saharan Africa. To this end, IFC’s Advisory Services aim to increase access to finance throughout the agricultural and food supply chain. We are very pleased to be working with our longstanding partner, Diamond Bank, in the pursuit of these objectives,” he said.

Weetman said the agreement will help both parties to improve agriculture in Nigeria.

Mr. Victor Ezenwoko, Executive Director, Regional Business-South, said the agreement was another milestone for the bank which would herald a new phase in agricultural development in the country.

Ezenwoko noted that the Bank’s commitment is to see the investment in agricultural development in Nigeria evolve into a truly successful commercial sector and provide employment, export and food for many families in Nigeria.

He noted that the venture would not only provide food for the teeming population but also provide employment opportunities to the unemployed youths in the country. Ezenwoko expressed optimism that the technical agreement with IFC will go a long way towards actualizing the Bank’s dream in making agriculture assume its pride of place in the Nigerian economy.