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3rd Quarter Results

29 Oct 2014 13:46

RNS Number : 6137V
Diamond Bank PLC
29 October 2014
 

 

Diamond Bank Plc

Unaudited IFRS Results for the Nine months period ended 30 September 2014

 

 

DIAMOND BANK PLC SUSTAINS GROWTH IN PROFIT AFTER TAX (PAT)

FOR THE PERIOD ENDED 30TH SEPTEMBER 2014

 

"We at Diamond Bank are pleased to report continued success in implementing our strategy across the group as evidenced by the decent PAT despite regulatory challenges.

 

Our retail infrastructure and innovative strategy are enabling us deliver retail solutions and propositions across all our business and market segments.

 

The recent upgrade of our core banking application, combined with other support functions has facilitated excellent service delivery across our network.

 

We are encouraged by these positive results, and we will continue our corporate journey in the strategic direction we set for ourselves."

 

 

 

 

Uzoma Dozie

Group Managing Director/CEO (Designate)

 

 

 

 

 

 

 

 

 

 

 

Key Ratios & Per Share Data

 

• Capital Adequacy Ratio of 16.9% (17.3% Dec 2013)

• Loan to deposit ratio at 60.1% (59.6% Dec 2013)

• Liquidity ratio (Bank) 40.4% (41.8% Dec 2013)

• Cost of risk 2.7% (3.5% Dec 2013)

• Coverage Ratio of 104.5% (116.1% Dec 2013)

• Net Interest Margin of 7.2% (8.1% Dec 2013)

• Cost to income ratio of 65.6% (60.3% Dec 2013)

• NPL ratio of 4.6% (3.5 % Dec 2013)

• ROAE of 18.4% (23.0% Dec 2013)

• EPS of 139(k) (197k Dec. 2013)

 

 

 

 

 

 

 

For the detailed Profit and Loss account, Balance Sheet, Cashflow statement and notes to accounts, please visit our website - http://www.diamondbank.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 Diamond bank UK, Bank of Beirut; BanqueLibano-Francaise, BHF Bank, BNP Fortis, BNP Paribas, Byblos Bank, Citibank, Commerzbank, Credit Suisse, Deutsche Bank, FBN (UK) Limited, HSBC Bank, ING Bank, KBC Bank, Mashreq Bank, Nordea Bank, SMBC Ltd, Standard Bank, Standard Chartered, SvenskaHandelsbanken, UBS Zurich.

More information can be found at www.diamondbank.com

 

 

 

 

Group Statement of Comprehensive Income

 

30 Sep. 2014

N'000

30 Sep. 2013

N'000

YoY

Change

Interest and similar income

120,031,912

106,958,966

12%

Interest expense

(37,465,200)

(27,979,183)

34%

Net interest income

82,566,712

78,979,783

5%

Net fee and comm. and other income

29,231,189

23,785,124

23%

Impairment Charge

(14,692,759)

(16,694,217)

(12%)

Net operating income

97,105,142

86,070,690

13%

Employee benefit expenses

(25,082,292)

(21,818,219)

15%

Operating expenses

(48,281,159)

(38,664,053)

25%

Profit/(loss) before tax

23,741,691

25,588,418

(7%)

Income tax

(3,561,278)

(5,538,312)

(36%)

Profit/(loss) after Tax

20,180,413

20,050,106

1%

Other comprehensive income (net)

(655,736)

106,075

(718%)

Total comprehensive income

19,524,677

20,156,181

(3%)

 

Group Statement of Financial Position

30 Sep. 2014

N'000

31 Dec. 2013

N'000

 

Change

Cash and bal. with central banks

246,601,664

228,322,128

8%

Financial assets held for trading

17,021,497

3,428,848

396%

Derivative assets

-

70,254

(100%)

Assets pledged as collateral

112,603,397

96,461,777

17%

Loans to banks

184,663,829

129,362,340

43%

Loans and advances to customers

718,831,403

689,168,335

4%

Investment securities

293,479,864

283,249,274

4%

Investment in associates

2,918,000

2,918,000

0%

Assets held for sale

4,320,464

4,313,492

0%

Fixed and intangible assets

56,975,623

52,670,203

8%

Deferred tax

6,744,730

6,745,979

0%

Other assets

37,825,444

22,145,801

71%

Total assets

1,681,985,915

1,518,856,431

11%

Deposits from Banks

87,720,433

54,579,471

61%

Deposits from Customers

1,255,320,465

1,206,044,003

4%

Current income tax liability

5,180,862

2,466,927

110%

Other liabilities

77,504,897

48,517,204

60%

Borrowings

72,981,592

47,514,160

54%

Long term debt

29,238,402

20,880,966

40%

Equity

154,039,264

138,853,700

11%

Total equity and liabilities

1,681,985,915

1,518,856,431

11%

 

Conference Call for Results

 

Diamond Bank Plc (Bloomberg: DIAMONDB NL / Reuters DIAMONB.LG) will be hosting a teleconference call for analysts and investors on Tuesday 11th November 2014 at 3pm Lagos (2pm London / 10am New York / 4pm Johannesburg & Cape Town) with its senior management to discuss Diamond Bank Plc's financial results for the period ended 30th September 2014. There will 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:

 

UK Toll Number: 02031394830

UK Toll-Free: 08082370030

 

US Toll Number: 1 718 873 9077

US Toll-Free Number: 1 866 928 7517

 

South Africa Toll Number: 021 672 4008

South Africa Toll-Free Number: 0800 222 290

 

 

And then entering the following access code:

 

99307900#

 

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 Tuesday, November 11th 2014 at www.diamondbank.com.

 

 

 

 http://www.rns-pdf.londonstockexchange.com/rns/6137V_-2014-10-29.pdf

 

 

 

 

Address:

 

PGD's Place,

Plot 4, Block 5, BIS Way,

Oniru, Lekki, Off Lekki-Epe Expressway,

Lagos, Nigeria

 

 

Investor Relations Contacts

 

Diamond Bank Plc

 

 Abdulrahman Yinusa abyinusa@diamondbank.com

Chief Financial Officer +234 (1) 448 9842

 

Chiugo Ndubisi cndubisi@diamondbank.com

Head, Financial Management +234 (1) 448 9832

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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