Diamond Bank Reinforces Business Strategy

Diamond BankA Diamond Bank Plc. branch

In a bid to boost its bottom-line and meet shareholders’ expectations, the management of Diamond Bank Plc has reinforced its business strategy and strengthened.

A statement yesterday explained that apart from beefing up its human capital, the bank has deployed cutting edge digital mobile technology, which reduced cash cycle and consolidated its hold on the MSME segment while still growing its corporate market.

According to the bank, these helped in expanding its local market share and deepened its global reach. Also, in order to align with current business realities and point the future direction of its service delivery, the bank said it recently refreshed and renamed some of its financial products.

The Chief Executive Officer, UzomaDozie, affirmed that although the industry is going through numerous challenges due to a lot of internal and external influences such as the slump in crude oil price in the international market, foreign exchange volatility and regulatory headwinds, Diamond Bank is continually on the lookout to optimise new opportunities for growth presented by these realities.

“Our growth drive begins from the inside as we have put in place a human capacity development system that ensures that we attract the best people in the business, train them to be able to perform at the best level in their jobs and motivate them well enough to stay with us. We are aware that the future of banking is digital and Diamond Bank is recognised for its innovative value added solutions that have changed the banking system to suit the customer lifestyle. These include Diamond Mobile App, Diamond Y’ello Account, Diamond Xclusive and Beta Proposition,” he was quoted to have said.

According to the CEO, the bank recognises the place of MSMEs as the engine that catalysis economic production and therefore, will continue to deepen the market segment by improving MSMEs stakeholders’ access to funds, market and advisory services.

“We are well recognised for our commitment to the MSMEs and even play an advisory role to government and many development partners in this regard. We currently do business with over 500,000 MSME customers in the key areas of access to financing, access to markets and advisory services. We also provide them with specialised technical support from institutions such as the International Finance Corporation (IFC), Women Banking, European Development Agency and others. These, we are leveraging on for our future growth and consolidation,” he added.

KPMG, a leading global advisory and consultancy firm, in its recent survey, ranked Diamond Bank among the three best in Nigeria in the customer satisfaction index (CSI).

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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