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1st Quarter Results

13th Apr 2015 14:37

RNS Number : 0420K
Diamond Bank PLC
13 April 2015
 

 

Diamond Bank Plc

Unaudited Results for the First Quarter ended 31 March 2015

 

http://www.rns-pdf.londonstockexchange.com/rns/0420K_-2015-4-13.pdf

 

 

DIAMOND BANK PLC REPORTS N8.4 BILLION PROFIT BEFORE TAX

IN FIRST QUARTER 2015

 

"Following our recent performance in financial year 2014, Diamond Bank is once again pleased to announce continuing all round business growth in the first quarter of 2015.

 

Interest income grew by 6% over the corresponding period in 2014 while operating expense increased by 3%. Overall, the bank's comprehensive income grew by 12.8% in the first quarter of 2015 when compared to 2014.

 

Our total asset shrank by 3% from December 2014. Our balance sheet has however become more efficient as a result of a deliberate effort to replace higher priced deposits with low cost ones from the retail segment of the market. Through the year, we shall maintain cautious growth in our loan portfolio.

 

We are encouraged by these results, and are well positioned to deliver healthy shareholder returns in 2015."

 

 

 

Uzoma Dozie

Group Managing Director/CEO

 

 

 

 

 

 

 

 

 

 

 

 

 

Key Ratios & Per Share Data

 

• Capital Adequacy Ratio of 18.2% (18.4% Dec 2014)

• Loan to deposit ratio at 61.3% (55.6% Dec 2014)

• Liquidity ratio 37.3% (41.7% Dec 2014)

• Cost of risk 3.1% (3.4% Dec 2014)

• Coverage Ratio of 111.8% (93.3% Dec 2014)

• Net Interest Margin of 6.3% (6.6% Dec 2014)

• Cost to income ratio of 62.0 % (64.6% Dec 2014)

• NPL ratio of 5.0% (5.1 % Dec 2014)

• ROAE of 13.4% (14.7% Dec 2014)

• EPS of 123k (166k Dec. 2014)

 

For the detailed Profit and Loss account, Balance Sheet, Cashflow statement and notes to accounts, please visit our website - http://www.diamondbank.com

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

About Diamond Bank plc

 

Diamond Bank Plc began as a private limited liability company on March 21, 1991 (the company was incorporated on December 20, 1990). Ten years later, in February 2001, it became a universal bank. In January 2005, following a highly successful Private Placement share offer which substantially raised the Bank's equity base, Diamond Bank became a public limited company. In May 2005, the Bank was listed on The Nigerian Stock Exchange.

 

Today, Diamond Bank is one of the leading banks in Nigeria - respected for its excellent service delivery, driven by innovation and operating on the most advanced banking technology platform in the market. Diamond Bank has over the years leveraged on its underlying resilience to grow its asset base and to successfully retain its key business relationships.

 

We have retained excellent banking relationships with a number of well-known international banks, allowing us to provide a bouquet of world class banking services to suit the business needs of our clients. These international banking partners include Diamond bank UK, Bank of Beirut; BanqueLibano-Francaise, BHF Bank, BNP Fortis, BNP Paribas, Byblos Bank, Citibank, Commerzbank, Credit Suisse, Deutsche Bank, FBN (UK) Limited, HSBC Bank, ING Bank, KBC Bank, Mashreq Bank, Nordea Bank, SMBC Ltd, Standard Bank, Standard Chartered, SvenskaHandelsbanken, UBS Zurich.

 

More information can be found at www.diamondbank.com

 

 

 

Group Statement of Comprehensive Income

31 Mar. 2015

N'000

31 Mar. 2014

N'000

YoY

Change

Interest and similar income

40,487,320

38,244,830

5.9%

Interest expense

(11,641,622)

(10,753,950)

(8.3%)

Net interest income

28,845,697

27,490,880

4.9%

Net fee and comm. and other income

10,183,760

9,943,144

2.4%

Impairment Charge

(6,467,525)

(4,992,144)

(29.6%)

Net operating income

32,561,932

32,441,573

0.4%

Employee benefit expenses

(8,581,121)

(8,033,036)

(6.8%)

Operating expenses

(15,613,560)

(15,167,689)

(2.9%)

Profit/(loss) before tax

8,367,252

9,240,848

(9.5%)

Income tax

(1,199,709)

(794,206)

(51.1%)

Profit/(loss) after Tax

7,167,543

8,446,642

(15.1%)

Other comprehensive income (net)

2,075,088

(250,230)

929.3%

Total comprehensive income

9,242,631

8,196,412

12.8%

 

Group Statement of Financial Position

31 Mar. 2015

N'000

31 Dec. 2014

N'000

 

Change

Cash and bal. with central banks

302,304,137

301,393,080

0.3%

Financial assets held for trading

6,934,578

3,481,299

99.2%

Derivative assets

333,099

50,012

566.0%

Assets pledged as collateral

103,397,647

103,397,647

0.0%

Loans to banks

272,980,549

296,098,561

(7.8%)

Loans and advances to customers

810,991,568

791,094,667

2.5%

Investment securities

255,295,270

342,834,637

(25.5%)

Investment in associates

2,718,000

2,918,000

(6.9%)

Assets held for sale

4,326,784

4,333,658

(0.2%)

Fixed and intangible assets

59,732,671

58,600,696

1.9%

Deferred tax

4,987,386

4,987,386

0.0%

Other assets

45,546,490

23,933,731

90.3%

Total assets

1,869,548,179

1,933,123,374

(3.3%)

Deposits from Banks

17,620,273

68,760,427

(74.4%)

Deposits from Customers

1,400,233,061

1,493,081,203

(6.2%)

Current income tax liability

3,631,580

2,448,756

48.3%

Other liabilities

78,116,213

53,312,429

46.5%

Borrowings

114,019,216

74,637,231

52.8%

Long term debt

37,627,796

31,858,561

18.1%

Equity

218,300,040

209,024,767

4.4%

Total equity and liabilities

1,869,548,179

1,933,123,374

(3.3%)

 

 

Conference Call for Results

 

Diamond Bank Plc (Bloomberg: DIAMONDB NL / Reuters DIAMONB.LG) will be hosting a teleconference call for analysts and investors on Wednesday 15th April 2015 at 3pm Lagos (3pm London / 10am New York / 4pm Johannesburg & Cape Town) with its senior management to discuss Diamond Bank Plc's financial results for the year ended 31stDecember 2014 and the period ended 31st March 2015. There will be an opportunity at the end of the call for management to take questions from investors and analysts.

 

The teleconference call facility can be accessed by dialing:

 

UK Toll Number: 02031394830

UK Toll-Free: 08082370030

 

US Toll Number: 1 718 873 9077

US Toll-Free Number: 1 866 928 7517

 

South Africa Toll Number: 021 672 4008

South Africa Toll-Free Number: 0800 222 290

 

 

And then entering the following access code:

 

45683044#

 

Participants should register for the call at least five minutes before the start of the presentation.

 

The presentation will be posted to Diamond Bank's website on the morning of Wednesday, April 15th 2015 at www.diamondbank.com.

 

 

 

 

 

Address:

 

PGD's Place,

Plot 4, Block 5, BIS Way,

Oniru, Lekki, Off Lekki-Epe Expressway,

Lagos, Nigeria

 

 

Investor Relations Contacts

 

Diamond Bank Plc

 

Abdulrahman Yinusa [email protected]

Chief Financial Officer +234 (1) 448 9842

 

IfeatuOnwuasoanya [email protected]

Head, Inv. Relations +234 (1) 448 9866

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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