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Diamond Bank Opens UK Subsidiary

By on March 28, 2013

Diamond Bank Plc Wednesday said it has been granted approval by the Financial Services Authority (FSA) to operate a bank in the United Kingdom.

Group Managing Director/ Chief Executive Officer, Diamond Bank, Dr. Alex Otti, who disclosed this in a statement, expressed satisfaction over the feat.

According to Otti, the international subsidiary would offer the financial institution opportunity to offer wholesale financial services, including facilitating international trade to new and existing clients.

“This approval also provides a unique opportunity for Diamond Bank to establish its presence in London, which is a hub for finance and banking activities in Europe,” the Diamond Bank boss added.

Otti had during an investors conference last year, said that the bank was determined to leverage on its international banking license with the acquisition of a niche bank in Europe.

Otti had said: “This acquisition is another milestone in our drive to become the leading financial institution in Nigeria. We welcome staff and customers of the new acquisition into the Diamond Bank fold with our promise of unparalleled customer experience which has become our practice across our locations nationwide and the West African coast.”

Over the years the bank has grown its branch network in the domestic market to 228. In 2001 opened its first international office in Republic of Benin. It currently has 26 branches across Republic of Benin, Togo, Cote d’Ivoire and Senegal.

( This Day )