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Half Yearly Report

31 Jul 2014 13:21

RNS Number : 9007N
Diamond Bank PLC
31 July 2014
 

 

Diamond Bank Plc

Operating Results for the half-year period ended 30 June 2014

 

 

DIAMOND BANK PLC REPORTS CONTINUED GROWTH IN OPERATING INCOME

SUPPORTED BY A GROWING BALANCE SHEET

 

"Diamond Bank is pleased to announce a further confirmation of our resilience in sustaining profit ability despite regulatory constraints, with Profit After Tax increasing by 9% year-on-year.

 

We continued to report healthy asset growth (up 15% from Dec. 2013) and have maintained strong deposit growth especially from the retail segment of the market.

 

Our cost profile remains efficient as we continue our expansion drive; and our risk indicators continue to show sustainable asset quality ratios that adequately support the bank to deliver on the target returns by year-end.

 

 

 

 

Dr. Alex Otti

Group Managing Director/CEO

 

 

 

 

 

 

 

 

 

 

 

 

 

Key Ratios & Per Share Data

 

• Capital Adequacy Ratio of 17.0% (17.3% Dec 2013)

• Loan to deposit ratio at 60.6% (59.6% Dec 2013)

• Liquidity ratio of 34.1% (41.8% Dec 2013)

• Cost of risk 2.4% (3.5% Dec 2013)

• Coverage Ratio of 102.7% (116.1% Dec 2013)

• Net Interest Margin of 7.1% (8.1% Dec 2013)

• Cost to income ratio of 65.8% (60.3% Dec 2013)

• NPL ratio of 4.6% (3.5 % Dec 2013)

• ROAE of 19.2% (23.0% Dec 2013)

• EPS of 95(k)

 

 

 

 

 

 

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; Banque Libano-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, Svenska Handelsbanken, UBS Zurich.

 

More information can be found at www.diamondbank.com

 

 

 

 

Group Statement of Comprehensive Income

 

H1 2014

N'000

H1 2013

N'000

YoY

%Change

Interest and similar income

78,728,017

70,051,571

12%

Interest expense

(23,334,603)

(18,609,639)

25%

Net interest income

55,393,414

51,441,932

8%

Net fee and comm. and other income

18,078,714

15,529,107

16%

Impairment Charge

(9,059,791)

(9,797,656)

(8%)

Net operating income

64,412,337

57,173,383

13%

Employee benefit expenses

(16,526,483)

(14,183,364)

17%

Operating expenses

(31,813,448)

(25,428,918)

25%

Profit/(loss) before tax

16,072,406

17,561,101

(8%)

Income tax

(2,286,639)

(4,917,108)

(53%)

Profit/(loss) after Tax

13,785,767

12,643,993

9%

Other comprehensive income (net)

339,800

(741,408)

(146%)

Total comprehensive income

14,125,567

11,902,585

19%

 

 

Group Statement of Financial Position

30 Jun 2014

N'000

31 Dec 2013

N'000

 

% Change

Cash and bal. with central banks

248,653,412

228,322,128

9%

Financial assets held for trading

7,513,373

3,428,848

119%

Derivative assets

101,496

70,254

44%

Assets pledged as collateral

115,730,327

96,461,777

20%

Loans to banks

292,301,672

129,362,340

126%

Loans and advances to customers

755,957,786

689,168,335

10%

Investment securities

213,996,642

283,249,274

(24%)

Investment in associates

2,918,000

2,918,000

0%

Assets held for sale

4,318,230

4,313,492

0%

Fixed and intangible assets

55,329,653

52,670,203

5%

Deferred tax

6,744,730

6,745,979

0%

Other assets

40,518,199

22,145,801

83%

Total assets

1,744,083,520

1,518,856,431

15%

Deposits from Banks

103,440,628

54,579,471

90%

Deposits from Customers

1,308,264,787

1,206,044,003

8%

Current income tax liability

3,906,223

2,466,927

58%

Other liabilities

71,363,191

48,517,204

47%

Borrowings

79,312,568

47,514,160

67%

Long term debt

29,166,683

20,880,966

40%

Equity

148,629,440

138,853,700

7%

Total equity and liabilities

1,744,083,520

1,518,856,431

15%

 

Conference Call for Results

 

Diamond Bank Plc (Bloomberg: DIAMONDB NL / Reuters DIAMONB.LG) will be hosting a teleconference call for analysts and investors on Monday 4th August 2014 at 4pm Lagos (4pm London / 11am New York / 5pm Johannesburg & Cape Town) with its senior management to discuss Diamond Bank Plc's financial results for the half-year ended 30th June 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: 0203 139 4830

UK Toll-Free: 0808 237 0030

 

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:

66899874#

 

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 Monday, August 4th 2014 at www.diamondbank.com.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

Click on, or paste the following link into your web browser, to view the associated PDFdocument.

 

http://www.rns-pdf.londonstockexchange.com/rns/9007N_-2014-7-31.pdf

 

 

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