Diamond Bank Says Talks with Third Party on Capital Injection Hoax

October 26, 2018/NSE

Our attention has been drawn to recent media reports concerning new equity investment in Diamond Bank Plc. Such reports have speculated on the identity of a new investor, with permutations on the structure of the investment.

We wish to notify the Nigerian Stock Exchange (NSE) and the General Public that these reports are far from the truth.

Diamond Bank is not in talks with any party, global or otherwise, for any capital injection. While previous communication from the bank has highlighted a need to shore up the Bank’s Capital Adequacy Ratio (CAR), the preferred option is an internal capital management programme that has been explained in detail to analysts and investors.

While we recognize the need to expand our options in the short term, we have no concrete new development to report and will notify The Exchange once there is any.

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