Mediacraft Associates

January 21, 2014

5 min read

Aganga Endorses Diamond Bank’s SME Blueprint

The Minister for Trade and Investment, Olusegun Aganga, has called for new strategies to support the Small and Medium Entreprises (SME) sector as government looks to positively impact the entire economic value chain. The minister made the call while receiving top executives of Diamond Bank Plc, a leading player in the Nigerian Retail Banking space, led by the Bank’s Group Managing Director/CEO, Dr. Alex Otti. Speaking at the event, the minister said, “The SME sector in Nigeria currently employs about 25million people and accounts for about 40 per cent of the Gross Domestic Product. Despite recent growths in the economy, government realizes that economic growth that does not reach the SMEs cannot make any meaningful impact. Diamond Bank has played a pioneering and leading role in growing not only the banking sector but also the Nigerian economy through its activities with SMEs, and government is willing to partner such professionals with proven experience in the sector to develop the entire economic value chain.” While presenting the bank’s blueprint on Improving Access to Finance to Micro, Small and Medium Enterprises (MSME), Otti recommended that a fund should be set up to take care of identified equity finance gaps. He also called for a risk-sharing guarantee to support the unsecured lending portfolio of banks that have established methodologies for assessing, disbursing, monitoring and collecting such loans.

January 21, 2014

4 min read

African Guarantee Fund Partners Diamond Bank To Support Small Businesses In West Africa

More support has come the way of leading retail bank, Diamond Bank PLC in its drive to provide adequate support for Micro Small and Medium Scale Enterprises (MSMEs) in West Africa. This time, the African Guarantee Fund (AGF) has entered into an agreement with Diamond to support the bank’s lending to small businesses in the region to the tune of USD 25 Million. Speaking at a press conference held after the partnership agreement signing ceremony, Executive Director –Retail Banking, Diamond Bank PLC, Mr. Uzoma Dozie, said the Bank was delighted by the partnership as it was an indication that the Bank’s support for MSMEs is laudable and that the Bank would continue to provide more support for the vital business segment. According to the Chief Executive Officer, African Guarantee Fund, Mr. Felix Bikpo, “In Africa, majority of the economic growth is trade driven. Once trade is backed out, we have little or nothing. AGF is positioned to drive real economic development that takes Africa back to what it was in the past where a lot of its growth was driven at the local level. What we are doing in the AGF is to partner with like-minded institutions to provide adequate support for MSMEs to function actively in the sector. We are glad to partner with Diamond Bank as we have found their MSME support strategy to be the right one.”

December 20, 2013

5 min read

Diamond Bank Renames Flagship Savings Account … Now To Be Called ‘DiamondXtra’

Diamond Bank PLC, a leading player in the Nigerian Retail banking space, has announced the name change of its flagship savings account in a bid to cater to a larger section of the public. Hitherto known as ‘Diamond SavingsXtra’, the account has now been renamed ‘DiamondXtra’. Commenting on the name change, Head, Corporate Communications of the Bank, Mrs. Ayona Trimnell said, “The name change was informed by the need to change a wrong perception on the target market of the Diamond SavingsXtra account. Over time we found that people perceived the account to cater to only the lower mass market segment, a wrong perception. With the name change we wish to communicate to everyone that the account is open to everyone who is willing to put away some money for the rainy day, as well as enjoy a number of rewards for saving.” DiamondXtra account is a special savings account designed for individuals who want to build up their savings gradually. It is an interest-yielding savings account which allows the deposit of both cash and third party cheques. In addition, DiamondXtra account holders receive a chequebook and an ATM card with which they can withdraw from their account at any Diamond Bank branch. It is a simple and straightforward savings account that comes with a low minimum opening amount of N5,000.

December 20, 2013

4 min read

Bank Rewards Customers In Special Year-End Draw

Diamond Bank PLC, a leading player in the Nigerian Retail banking space, has announced a Year-end special draw, under the DiamondXtra Reward Scheme, to reward loyal customers of its DiamondXtra account. The Draw will hold at the Iron and Building Materials Market, Orile Iganmu, Lagos, on Friday, December 27, 2013. At the Year-end special draw, 35 customers would win N1million each, 1 customer will win N2million and the luckiest customer will win Salary4Life (earns N100,000 every month for 20 years). Commenting on the draw, Head, Corporate Communications of the Bank, Mrs. Ayona Trimnell said, “The DiamondXtra account is a special savings account designed for individuals who want to build up their savings gradually. It is an interest-yielding savings account which allows the deposit of both cash and third party cheques. In addition, DiamondXtra account holders receive a cheque book and an ATM card with which they can withdraw from their account at any Diamond Bank branch. It is a simple and straightforward savings account that comes with a low minimum opening amount of N5,000.” The DiamondXtra Reward Scheme is currently the longest running reward scheme in Nigeria. It was launched in July 2008 in a bid to encourage a savings culture and also to reward customers for their loyalty. The draws are held weekly (every Friday), monthly (every last Friday of the Month) and to mark special occasions as determined by the Bank.