Diamond Bank Refutes Report on Cash Injection by Investor

November 9, 2018/Diamond Bank Plc

The Board of Diamond Bank Plc (Diamond Bank or the Company) notes the media speculation relating to comments attributed to its former Chairman, Mr Oluseyi Bickersteth.

Contrary to such media articles, the Board wish to clarify that the Company has not received an offer from an investor to inject cash. Further to the Company’s announcement of 26 October 2018, Diamond Bank and its Board of Directors continue to review all strategic options on a regular basis. Diamond Bank would also like to clarify it enjoys the support of its major shareholders, including The Carlyle Group and Kunoch Holdings who are, as ever, working in cooperation with the Board and management as appropriate to ensure the successful operation of its business in Africa’s most dynamic banking market.

Further to the announcement of 24 October 2018, Diamond Bank is in active discussions with regards to the appointment of  new non-executive directors to the Board and, subject to CBN approval, these will be announced in due course.

Diamond Bank’s recent Third Quarter results published on October 26, 2018 show the business continues to execute its clearly articulated tech-led retail strategy despite headwinds in the Nigerian economy.

opan



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