24th Jul 2015 13:58
Diamond Bank Plc
Unaudited Results for the Half Year ended June30, 2015
http://www.rns-pdf.londonstockexchange.com/rns/0569U_-2015-7-24.pdf
DIAMOND BANK PLC REPORTS 6% INCREASE IN GROSS REVENUE IN 2015 HALF YEAR
"We at Diamond Bank, are pleased to announce continued success in implementing our strategy for profitable business growth.
Despite the challenging macroeconomic environment, the Group's revenue increased by 6.4% to N103.0 billion from N96.8 billion recorded for the same period in 2014. Profit before tax however dropped by 12% compared to first half of 2014, on the back of deteriorating macroeconomic environment.
Our total asset declined by 5.3% from December 2014 as we continued to restructure the deposit structure in particular, and balance sheet in general for efficiency and more profitable outcome in the quarters ahead.
The Bank's capital adequacy ratio increased to 18.6%, in excess of the required minimum of 15%, and signposts our preparedness for business in the months ahead. On the risk side, we have continued to address areas of concern, even as cost of risk and NPL ratio dropped to 3.2% and 5.0%, from 3.4% and 5.1% respectively as at end of 2014 Financial year.
Our innovative, customer friendly services and retail banking strategy are showing positive results and will enable us to sustain low cost of funds into the future.
In the quarters ahead, we will focus on premium quality risk assets, as we continue to explore opportunities to grow our market share responsibly. We shall expand customer relationships, enhanced by our electronic channels and excellent service delivery"
Uzoma Dozie Group Managing Director/CEO
Key Ratios & Per Share Data
• Capital Adequacy Ratio of18.6% (18.4% Dec 2014) • Loan to deposit ratio at58.6% (55.6% Dec 2014) • Liquidity ratio 35.7% (41.7% Dec 2014) • Cost of risk 3.2% (3.4% Dec 2014) • Coverage Ratio of 87.9% (93.3% Dec 2014) • Net Interest Margin of 6.5% (6.6% Dec 2014) • Cost to income ratio of 65.3% (64.6% Dec 2014) • NPL ratio of 5.0% (5.1 % Dec 2014) • ROAE of 11.3% (14.7% Dec 2014) • EPS of 105k (166k Dec. 2014)
For the detailed Profit and Loss account, Balance Sheet, Cash flow statement and notes to accounts, please visit our website - http://www.diamondbank.com
About Diamond Bank plc
Diamond Bank Plc is a leading retail bank in Nigeria and West Africa. It serves over 8 million customers and this number is expected to cross 10 million by the end of 2015. It began as a private limited liability company on March 21, 1991 andin January 2005, following a highly successful Private Placement it became a public limited company.
Today, Diamond Bank is one of the most respected Nigerian banks -leading in the issue of local currency credit cards and having a wide portfolio of products and services that allow greater choice for customers - women, families, youth and lifestyle segments.
We have retained excellent banking relationships and developed frameworks that connect corporate clients to their customers through multiple digital platforms. Our signature "Diamond Mobile" is Africa's leading banking application and first with touch ID, and this supports Nigeria's cashlite policy.
As the preferred bank, frequently selected by multilateral development finance institutions to partner on financial inclusion, we are continuously investing in building a local agency network to provide more domestic banking facilities. We are leaders in banking governance standards to promote financial stability and sustainable economic growth.
We partner 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, 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
Group Statement of Financial Position
Conference Call for Results
Diamond Bank Plc (Bloomberg: DIAMONDB NL / Reuters DIAMONB.LG) will be hosting a teleconference call for analysts and investors on Monday27th July 2015 at 3pm Lagos (3pm London / 10am New York / 4pm Johannesburg & Cape Town) with its senior management to discuss Diamond Bank Plc's unaudited results for the period ended 30th June 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
And then entering the following access code:
13521085#
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 Monday, July27th2015 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
IfeatuOnwuasoanya [email protected] Head, Inv. Relations +234 (1) 448 9866
Abdulrahman Yinusa [email protected] Chief Financial Officer +234 (1) 448 9842
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