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Diamond Bank is not distressed

CBN Governor, Mr. Godwin Emefiele
CBN Governor, Mr. Godwin Emefiele

Diamond Bank Plc, one of Nigeria’s leading banks providing financial services across the shores of the country has dismissed a media report by Sahara Reporters suggesting that the bank is distressed.

Describing the story as “false and malicious”, the bank in a statement issued and signed by the Head, Corporate Communications Division, Mrs. Ayona Trimnell, Diamond Bank debunked the report, insisting that Diamond Bank is healthy and meeting its financial obligations as required by the regulatory body.

“Our attention has been drawn to a malicious story published by Sahara Reporters alleging that Diamond Bank Plc is one of nine commercial banks that have demonstrated a level of distress that requires they recapitalize to avert the banks possibly falling into distress.

“Our customers, stakeholders and indeed the general public should please disregard the said report and be informed that the story is false, baseless, mischievous and attention seeking. Diamond Bank’s Q3 2015 result approved by the Central Bank of Nigeria (CBN) and the Nigerian Stock Exchange (NSE) show capital adequacy ratio of 18%, which is 3% higher than CBN’s minimum requirement,” the statement said.

The bank would like anyone in doubt to check out its Q3 2015 financial results which can be found at http://www.diamondbank.com/images/banners/linkcreation/Financials/2015%20Nine%20Months%20Unaudited%20Financial%20Statement.pdf/

It could be recalled that the Central Bank of Nigeria has issued a statement recently condemning the same falsehood by Sahara Reporters, as the apex bank assured that no Bank in Nigeria is facing stress as alleged by the online news portal.

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