DBP.L Regulatory News (DBP)

Diamond Bank Plc

1st Quarter results for the three months ended 31 March 2012

DIAMOND BANK PLC REPORTS N7.5 BILLION PBT IN FIRST QUARTER 2012 ON THE BACK OF ROBUST OPERATING EFFICIENCY AND THE COMPLETION OF BALANCE SHEET CLEAN-UP

LAGOS, NIGERIA - 3 April 2012 Diamond Bank Plc, (Bloomberg: DIAMONDB NL / Reuters: DIAMONB.LG) ("Diamond Bank" or the "Bank"), the provider of comprehensive banking and other financial services to corporate and individual customers across Nigeria and Africa announces Group results for the three months ended 31 March 2012.

Chief Executive Officer of Diamond Bank Plc Dr. Alex Otti commented: "Our first quarter results indicate that we are on track towards delivering significant ROE improvement and PBT growth in 2012. We have shown that our industry leading net interest margin is sustainable and that our operating efficiency is robust and yielding strong operating performance. With our balance sheet clean-up now complete, our cost of risk is returning to acceptable levels allowing for our operating performance to trickle down to the bottom-line and translate into a return to profitability as demonstrated by our significant rise in year on year PBT at the end of the first quarter. We are delighted by these encouraging figures and will continue to maintain focus on growing our operating profitability at acceptable risk levels that ensure we deliver steady and growing returns to our shareholders in 2012 and the years ahead."

Financial Highlights

Group Profit & Loss - recovering profitability on significant operating profit growth and falling cost of risk, now 4.7% (11.6% December 2011)

·; Gross earnings of N30.7billion, an increase of 51.2% (N20.3 billion March 2011 )

·; Net interest income of N18.1 billion, up 47.2% (N12.3 billion March 2011)

·; Operating expenses of N13.4 billion, up 12.6% (N11.9 billion March 2011)

·; Operating profit of N12.7 billion, up 101.6% (N6.3 billion March 2011)

·; Profit before tax of N7.5 billion, up 316.7% (N1.8 billion March 2011) 

Group Balance Sheet

·; Total Assets and Contingents crossed the N1.0 trillion mark to N1.1 trillion (N991 billion Dec 2011 and N874.9 billion Mar 2011)

·; Total Assets up 6.8% quarter on quarter to N858.3 billion and up 34.8% year on year (N803.7 billion Dec 2011 and N636.8 billion Mar 2011)

·; Risk Assets (net) up 10.8% quarter on quarter to N440.3 billion and up 34.6% year on year (N397.4 billion Dec 2011 and N327.0 billion Mar 2011)

·; Customer deposits up 6.4% quarter on quarter to N640.1 billion and up 42.7% year on year (N601.7 billion Dec 2011 and N448.5 billion Mar 2011)

Key Ratios and per share data - improving NPL and cost to income ratios.

·; Improving Cost/income ratio to 51.5% (66.6% Dec 2011)

·; Improving Net Interest Margin of 9.5% (8.8% Dec 2011)

·; Declining NPL ratio of 8.0% with an upper limit target of 5% by year end (9.4% Dec 2011)

·; Improving Cost of risk ratio of 4.7% (11.6% Dec 2011)

·; Improving coverage ratio of 75.0% (53.7% Dec 2011)

·; Capital adequacy of 12.4% (13.9% Dec 2011) - negotiations at advance stages with multilateral agencies to source Tier 2 capital in Q2 2012 and rest of 2012

·; High liquidity ratio of 46.1% (CBN Statutory minimum of 30%)

·; Loan/deposit ratio of 73.2% (69.6% Dec 2011)

(For the detailed Profit and Loss Account, Balance Sheet, Cashflow statement and notes to the accounts, please visit our website - www.diamondbank.com)

- ENDS -

Conference Call for Results

Diamond Bank Plc (Bloomberg: DIAMONDB NL / Reuters DIAMONB.LG) will be hosting a teleconference call for analysts and investors on Wednesday 4 April at 4.30 pm Lagos (4.30 pm London, 11.30am New York / 5.30pm Johannesburg & Cape Town) with its senior management to discuss Diamond Bank Plc's 12-months results for the year ended 31 December 2011 and the Q1 results for the three months ended 31 March 2012. There will also 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:

And then entering the following access code:

7265465

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 Wednesday 4 April at www.diamondbank.com

For those who are unable to listen to the live call, a replay facility will be available until 19 April by dialing +001 347 366 9565 and entering access code 7265465

For further information please contact:

-ENDS-

Notes to editors:

About Diamond Bank plc

Diamond Bank Plc began as a private limited liability company on March 21, 1991 (the company was

incorporated on December 20, 1990). Ten years later, in February 2001, it became a universal bank. In

January 2005, following a highly successful Private Placement share offer which substantially raised the

Bank's equity base, Diamond Bank became a public limited company. In May 2005, the Bank was listed

on The Nigerian Stock Exchange.

Today, Diamond Bank is one of the leading banks in Nigeria* - respected for its excellent service delivery,

driven by innovation and operating on the most advanced banking technology platform in the market.

Diamond Bank has over the years leveraged on its underlying resilience to grow its asset base and to

successfully retain its key business relationships.

We have retained excellent banking relationships 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 Citibank; HSBC Bank; ANZ Banking Group; ING BHF Bank

AG; Standard Chartered Bank; Belgolaise Bank S.A; Deutsche Bank; Commerzbank; and Nordea Bank

Plc.

More information can be found at www.diamondbankplc.com

 http://www.rns-pdf.londonstockexchange.com/rns/7277A_-2012-4-3.pdf