Half Yearly Report

Diamond Bank Plc

Operating Results for the half-year period ending 30 June 2012

DIAMOND BANK PLC REPORTS CONTINUED GROWTH IN OPERATING PROFIT SUPPORTED BY A GROWING BALANCE SHEET

LAGOS, NIGERIA - 11 July 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 half-year ended 30 June 2012, prepared on the basis of International Financial Reporting Standards (IFRS).

Speaking from headquarters in Lagos, Dr. Alex Otti, Group Managing Director of Diamond Bank commented: "In Q2 we continued to build on the solid foundation we established following the completion of our balance sheet clean up in Dec 2011. We are reporting healthy asset growth (up 12% quarter on quarter) and have sustained strong deposit growth especially from the retail segment of the market. Our cost structure remained stable in Q2, with our risk indicators continuing to show sustainable asset quality improvements which adequately place the bank to deliver on target ROE by year end."

Financial Highlights

Group Profit & Loss

·; Net interest income of N42.0 billion up 71% (N24.5 billion June 2011)

·; Net operating expenses of N29.1 billion up 15% (N25.3 billion in June 2011)

·; Profit before tax of N15.4 billion up 413% (N3 billion in June 2011)

·; Provisioning for bad debt of N10.1 billion (N11.2 billion in June 2011)

 Group Balance Sheet

·; Loans and advances to customers N505.7 billion up 17% (N433.5 billion in March 2012) and up 29% (N392.0 billion in December 2011)

·; Total Assets of N960.1 billion (up 12% from N855.3 billion in March 2012) and up 20% (N802.7 billion in December 2011)

·; Deposits from customers N679.3 billion (up 6% from N641.1 billion in March 2012) and up 13% (N603.0 billion in December 2011)

Key Ratios and per share data

·; Cost/income ratio 53%

·; Capital adequacy of 12% for the Group and 14% for the Bank

·; Loan/deposit ratio of 80%

·; NPL ratio 7.6%

·; ROAE of 22.2 % (annualised)

·; Cost of Risk of 4.2% (annualised)

·; Liquidity ratio of 40% (CBNStatutory minimum of 30%)

·; EPS (diluted) of 137.84K

(For the detailed Profit and Loss Account, Balance Sheet, Cashflow statement and notes to the accounts, please visit our website - www.diamondbank.com)

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