Sunday, July 21, 2019

Tag "diamond bank"

    Merger: Access, Diamond Banks get final approval from CBN

Merger: Access, Diamond Banks get final approval from CBN

Access Bank and Diamond Bank saythe Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have given them the final approval to merger.The two financial institutions announced this in separate corporate disclosures issued on the Nigerian Stock Exchange (NSE) over the weekend.“Access Bank Plc is pleased to announce that the bank has received the final approval of [...]

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    RANKING: Best and worst performing banks of 2018

RANKING: Best and worst performing banks of 2018

The year 2018 has been very challenging and equally eventful for the Nigerian banking sector. Skye Bank morphed into Polaris Bank, while Access Bank and Diamond Bank are fixing the bolts and nuts of the biggest banking deal of 2018.The banking sector, which controlled trillions of naira in market value and transactional strength in 2018, also had a bleeding year, [...]

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    Diamond Bank market cap rises to N26.4bn after acquisition

Diamond Bank market cap rises to N26.4bn after acquisition

The market has remained happy with the decision of Diamond Bank to merge or be acquired by Access Bank as share price continues to rise.Diamond Bank shares have gained over nine percent in value every day after TheCable broke the news of its acquisition by Access Bank on Sunday night.On Monday, the bank gained 9kobo per share to close at [...]

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    CLOSE-UP: Pascal Dozie, the investment guru who ‘sold MTN shares’ to rescue Diamond Bank but failed

CLOSE-UP: Pascal Dozie, the investment guru who ‘sold MTN shares’ to rescue Diamond Bank but failed

Pascal Dozie, founder of Diamond Bank Plc, will remember December 17, 2018, as the day his bank began its journey into extinction. Once described by Forbes as the 'Rolling Stone That's Never At A Loss', the Imo-born businessman is known to have ties with several business enterprises.Apart from being Diamond Bank chairman, he was a former director at the Central [...]

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    ‘We’ll become biggest retail bank in Africa’ — Diamond announces merger with Access Bank

‘We’ll become biggest retail bank in Africa’ — Diamond announces merger with Access Bank

Diamond Bank has announced its decision to merge with Access Bank Plc, as earlier reported by TheCable.In a statement on Monday, the bank said the strategic decision will help it become the biggest retail bank on the African continent."The Board of Diamond Bank Plc (“Diamond Bank”) today announces that following a strategic review leading to a competitive process, the Board has [...]

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    Access, Diamond Bank share prices jump after ‘acquisition’

Access, Diamond Bank share prices jump after ‘acquisition’

Diamond Bank share price is on the rise, following the conclusive acquisition by Access Bank PLC.On Sunday, TheCable reported the acquisition by Access Bank, as midwifed by the Central Bank of Nigeria to consolidate the banking sector in the country.At the Nigeria Stock Exchange (NSE) on Monday, investors seem to be voting their monies into Diamond Bank, following the expectations [...]

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    EXCLUSIVE: Access Bank acquires Diamond Bank

EXCLUSIVE: Access Bank acquires Diamond Bank

Access Bank has finally acquired Diamond Bank, TheCable can report.According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria (CBN).The acquisition was midwifed by the CBN in a bid to further consolidate the banking industry, sources informed TheCable.A Diamond Bank official who spoke to TheCable said [...]

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    Diamond Bank chairman, three directors resign

Diamond Bank chairman, three directors resign

Oluseyi Bickerseth, chairman of the board of Diamond Bank, and three other directors of the bank has resigned.The bank announced the resignation in a notice sent to the Nigerian Stock Exchange and signed by Uzoma Uja, company secretary, on Thursday."We wish to notify the Nigerian Stock Exchange (NSE) and the public that the following Non-Executive Directors have resigned from the [...]

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    CBN ‘reviewing’ sanctions placed on MTN, four banks

CBN ‘reviewing’ sanctions placed on MTN, four banks

The Central Bank of Nigeria (CBN) says it is reviewing the recent sanctions placed on MTN and four commercial banks.In a statement released on Wednesday, the apex bank said the parties involved have submitted fresh documents in response to the sanctions.CBN had ordered MTN to refund $8.1 billion which it claimed the company repatriated using irregular certificates of capital importation.It [...]

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    MTN shares plunge to nine-year low after CBN sanction

MTN shares plunge to nine-year low after CBN sanction

Shares belonging to MTN have taken a big knock after sanctions by the Central Bank of Nigeria on allegations that the company illegally repatriated $8.1 billion.Early trading on the Johannesburg Stock Exchange saw the shares dip to 86.99 rand, a drop of 18% and its lowest level since March 2009.At the time of filing this report, the telecommunications company's shares [...]

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    CBN fines four banks N5.8bn, asks MTN to refund $8bn

CBN fines four banks N5.8bn, asks MTN to refund $8bn

The Central Bank of Nigeria (CBN) has ordered four banks to pay a total sum of N5.87 billion for allegedly issuing irregular certificates of capital importation (CCIs) on behalf of some offshore investors of MTN Nigeria Communications Limited.The apex bank has also written to MTN, asking it to refund $8 billion to the coffers of the central bank.The affected banks [...]

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    ‘Pay your taxes or we shut down your operations’ — 10 banks receive warning in Kaduna

‘Pay your taxes or we shut down your operations’ — 10 banks receive warning in Kaduna

The Kaduna state Internal Revenue Service says it will close the branches of 10 commercial banks who are owing taxes if they do not pay in one week.Francis Kozah, the legal adviser to the revenue agency, told NAN that the N2.3 billion was the total withholding tax the banks failed to remit between 2011 and 2016.The affected banks are United [...]

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    Diamond Bank closes UK operations to ‘focus on Nigeria’

Diamond Bank closes UK operations to ‘focus on Nigeria’

The management of Diamond Bank says it has disposed its entire shares in its UK subsidiary to a member of the GFG Alliance.This, it said, is in line with its objectives of streamlining its operations to focus its resources on the opportunities in Nigerian retail banking.According to a statement made available by Uzoma Uja, the company's secretary, the assets were [...]

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    Diamond recovers as Skye Bank continues on losing streak

Diamond recovers as Skye Bank continues on losing streak

Diamond Bank recovers for the first time in four trading days, after losing about 27 percent of its share value in the past three trading days.Skye Bank however continued on its losing streak for the fourth day after the Central Bank of Nigeria (CBN) dissolved the top management boards of bank.On Tuesday, Diamond Bank gained 3.78 percent, to close at [...]

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Exchange Rates

July 12, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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