9th Oct 2012 13:26
Diamond Bank Plc
Financial Results for the nine-month period ended 30 September 2012
DIAMOND BANK PLC REPORTS INCREASED PROFITS SUPPORTED BY A GROWING ASSET BASE
LAGOS, NIGERIA - 09 October 2012 Diamond Bank Plc, (Bloomberg: DIAMONDB NL) ("Diamond Bank" or the "Bank"), the provider of comprehensive banking and other financial services to corporate and individual customers across Nigeria and Africa releases group results for the nine-month period ended 30 September 2012, prepared on the basis of International Financial Reporting Standards (IFRS).
"We are delighted to announce that Diamond Bank has achieved a balance sheet size that has crossed the one trillion naira mark as at the end of Q3 2012. We have increased operating income figures by 107%, having turned around the performance of the Bank to profitability from the loss recorded last year. Our deposit base is growing at an accelerated pace, evidencing the Bank's ability to attract retail deposits that mitigate our cost of funding. We are now in a robust position to carry this performance through to the end of the year and deliver a sustainable double digit ROE in 2012." said Dr Alex Otti, Group Managing Director of Diamond Bank speaking from Lagos.
Financial Highlights
Group Profit & Loss
·; Interest and similar income of N88.4 billion up 46% (N60.7 billion September 2011)
·; Net interest income of N72.4 billion up 39% (N52.2 billion September 2011)
·; Other Income of N21.0 billion up 163% (N8.0 billion September 2011)
·; Operating expenses of N46.8 billion up 15% (N40.7 billion September 2011)
·; Profit before tax of N23.2 billion (N6.9 billion loss September 2011)
·; Provisioning expense of N23.4 billion (N26.4 billion June 2011
Group Balance Sheet
·; Loans and advances to customers N539.6 billion up 7% (from N505.7 billion in June 2012) and up 38% (N392.0 billion in December 2011)
·; Total Assets of N1.03 trillion up 7% (from N960.1 billion in June 2012) and up 28% (N802.7 billion in December 2011)
·; Deposits from customers N776.8 billion (up 14% from N679.3 billion in June 2012) and up 29% (N603 billion in December 2011)
·; Non Performing Loans of N30.0 billion down 28% (N41.4 billion in June 2012) and down 24% (N39.4 billion in December 2011)
Key Ratios and per share data
·; Cost/income ratio: 50.1%
·; Capital adequacy ratio: 16.2%
·; Loan/deposit ratio: 74.4%
·; NPL ratio: 5.2% (7.6% June 2012)
·; ROE: 24.3% (annualized)
·; Cost of Risk: 6.3% (4.2% June 2012)
·; Liquidity ratio: 34.1% (CBN Statutory minimum of 30%)
·; EPS (diluted): 125.53K
(For the detailed Profit and Loss Account, Balance Sheet, Cashflow statement and notes to the accounts, please visit our website - www.diamondbank.com)
- ENDS -
Conference Call for Results
Diamond Bank Plc (Bloomberg: DIAMONDB NL / Reuters DIAMONB.LG), the provider of comprehensive banking and other financial services to corporate and individual customers across Nigeria and Africa, will be hosting a teleconference call for analysts and investors on Tuesday 16 October 2012 at 3pm London and Lagos (10am New York / 4pm Johannesburg & Cape Town) with its senior management to discuss Diamond Bank Plc's results for the nine month period ended 30 September 2012. 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 dialling:
+44 (0)203 140 0668 in the UK and for international
+ 1 866 928 6049 in the US
+ 27 11 019 7051 in South Africa
And then entering the following access code:
771824#
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 16 October 2012 at www.diamondbank.com
For those who are unable to listen to the live call, a replay facility will be available until 16th November by dialling + 020 3140 0698 (UK) and entering access code 387433#
For further information please contact:
Chiugo Ndubisi [email protected] +234 (1) 448 9832
Africa Practice
Lagos:
Nick Chambers [email protected] +234 813 574 3544
Oberhi Majoroh [email protected] +234 805 193 7592
Please click on the link below to view the associated PDF Document.
http://www.rns-pdf.londonstockexchange.com/rns/2879O_-2012-10-9.pdf
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