Diamond Bank Plc has divested 100 per cent
of its shareholding in its international subsidiary, Diamond Bank UK, in order to focus on Nigeria business,
particularly the retail-banking segment. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
The
proposed deal is coming shortly after the bank had just concluded the sale of
its West African business operations across Benin, Togo, Cote d’Ivoire and
Senegal in November 2017.
According
to a statement by the bank, the disposal was in line with the objective of
streamlining its operations to focus more on the significant opportunities in
the Nigerian retail-banking segment. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
Already,
the bank has signed a share sale and purchase agreement with a member of GFG Alliance, for the disposal of its
entire shareholding in Diamond Bank UK.
The
bank said the completion of the transaction is subject to approval from the Financial Conduct Authority and Prudential Regulatory Authority – the
regulators responsible for banking in the UK.
The
bank explained that the sale of international subsidiaries is not expected to
cause service disruptions for international customers, as they will continue to
enjoy enhanced and convenient banking services through the bank’s digital
channels.
“By focusing exclusively on Nigeria, Diamond Bank is seeking to
capitalize on the vast growth opportunities presented by Africa’s largest
economy. This includes macro fundamentals such as Nigerian’s changing lifestyle
preferences in favour of mobile delivered services and an emerging culture of
innovation and tech-enabled entrepreneurship,” the bank said. http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
It
added that the bank would have no international subsidiaries on completion of
the transaction. The Chief Executive Officer of the bank, Uzoma Dozie, said: “Diamond Bank’s strategic
objective is to be the fastest growing, and most profitable technology driven
retail banking franchise in Nigeria. This strategic intent requires us to
optimize resources by divesting from non-core assets, and focusing exclusively
on the Nigeria’s highly attractive market.
Hmmm!!! Folks, have you ever
imagined how the financial status of your firm will be when more than 20,000
CEOs and other key decision makers of blue-chip corporations pay for your
products and services or even give you very juicy deals. The link below will
tell you more: http://www.tectono-business.com/2015/07/tectono-business-review-in-conjunction_21.html
Have you heard this? Many
Nigerian exporters have been defrauded of huge amount of money in the process
of exporting commodities to foreign countries. Do you know why? They were not
trained on export operations, management, documentations and the best methods
of payment in export trade. This is terrible!!! Nigerians cannot continue to
lose money to foreigners in the course of export business. Exporters, why don’t
you get a practical manual that teaches the stages of export trade from
processing and packaging of commodities to receipt of payment by the foreign
buyers. It teaches export operations, export management, export documentations
and methods of payment in export trade? It is a contemporary step-by-step guide
to export trade. It tells all the contemporary dynamics in export trade. To get
it, click on the link below:
http://www.tectono-business.com/2016/02/contemporary-step-by-step-guide-to.html
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