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Diamond Bank’s balance sheet now N1tn

By on April 22, 2013

The Managing Director, Diamond Bank Plc, Dr. Alex Oti, has said the bank’s balance sheet in 2012 hit the N1tn mark.

He also said the bank would open more branches to meet the demand of its growing customers.

The managing director, who spoke in Jos at a customer forum, said the bank posted a profit after tax of N27bn in the 2012 fiscal year but regretted that dividend would not be paid to shareholders as it intended to plough back the amount set aside into the business as retail earnings.

Oti was represented by the Regional Manager, Northern Operations, Mr Dele Balogun.

Explaining why the bank could not pay dividends, Oti said the gains came after three years of no returns and could not pay dividend at the same time asking the same shareholders to give it capital.

He, however, appealed to them to remain calm and expect robust returns on their investments because of the many products and innovations the bank had introduced.

( The Punch)