Stella Dimoko Korkus.com: Diamond Bank Confirms Merger With Access Bank

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Monday, December 17, 2018

Diamond Bank Confirms Merger With Access Bank

The board of Diamond Bank Plc on Monday finally announced its merger with Access Bank Plc expected to be completed in first half of 2019.






Both banks recently denied media reports of any merger.

Mr Uzoma Dozie, the bank’s Chief Executive Officer, said in Lagos the board had selected Access Bank as the preferred bidder with respect to a potential merger of both banks. Dozie said the potential merger of the two banks would create Nigeria and Africa’s largest retail bank by customers.


He added that the transaction to be completed in the first half of 2019 was in the best interest of all stakeholders. Dozie said the completion of the merger was subject to certain shareholder and regulatory approvals.

He said the bank’s shares would be absorbed into Access Bank at the completion of the merger and Diamond Bank would cease to exist under Nigerian law.

NAN

53 comments:

  1. Awww diamond bank. Love their app

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  2. Nothing should sha happen to the business funds I have with Diamond. I have worked too hard to retain that Money.

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    Replies
    1. Better transfer the fund now that you have an opportunity do so. Most Naija mergers get K-leg

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  3. Wow!! Access Bank is strong oh. Only them took over Intercontinental bank like eight years back, now they be taking over Diamond.. is s

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  4. A whole Diamond Bank has gone under. Someone said it here the time Polaris bought over Skye bank that Diamond Bank was next. I knew something was wrong when they started selling off their foreign units. Biko which one is next make I know where I wan carry my money de go. I no fit shout.

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    Replies
    1. 20:13 Fidelity bank is underrated. You will be surprised when Fidelity buy Zenith and GTbank.

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    2. Zenith ke, maybe gtb ( mai ruwa bank) but definitely not zenith

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    3. Sky do you even know what you saying? How can you ever think fidelity can buy Zenith? As how naa,better wake up from that dream of yours

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  5. Some anonymous BVs dropped the tea a while back.

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  6. O setigo, diamond with its wahala
    Make dem no sack staff ohh

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    Replies
    1. Those that fuck manager for position, sorry be their name

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  7. Access bank--Small bank, big God

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  8. They will sack staff. All these grammar dem dey speak say na merger.

    Eayah diamond staff some of you should start looking for another job.

    It is well with una. Just enjoy the Christmas before sacking next year

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  9. What will happen to their current staffs? Gope they will all be retained ooo?

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    Replies
    1. Yes they will retain some of their real staff but the contract staff fate is OYO.

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  10. Some staff will be forced to resign. They will set big targets for them and also close some branches.

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  11. Diamond bank, my favorite bank. The most user friendly app

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  12. Wow! I pity the staff working there now. I pray there should not be massive sack. I thought diamond is a strong back. This accessbank sef. They look small but Mighty. They have good management unlike their counter part. It is well with the staff's. I have a lot of friends there.

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  13. So it's true. Nawa o. Diamond bank dead and buried? That's so sad. I never liked that bank but because of company salary, I was forced to open an account there.

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  14. Nothing should Sha happen to my Gtbank ooo..
    I no fit shout mbok.. I no wan hear shoot bird mama fly.

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  15. Eyah. When it comes to merger and acquisition some staff will be laid off.
    So na so I no win the salary for life abi

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  16. Nigeria Banks are fragile just surviving under political stronghold. Every financial corruption trading in Nigeria is rooted in the banks. Just one government financial policy they all begin to stagger.

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  17. Ha! What will happen to salary for life??

    Access bank is a shitty bank anyways, extremely poor customer relations.

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    Replies
    1. True about the customer service at access. They will so make the real diamond customers to flee. Access is the bank with the most uncouth workers, from top to bottom.

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    2. Biko talk about the branch you visited, and not make it the whole Access bank cause up to now m yet to have a problem with them

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  18. Uzoma Dozie finally killed that bank. After Alex Otti's hardwork of resuscitating, rebranding and repositioning that bank to #5. Uzoma under a year of becoming MD scattered all that. I pity Pascal Dozie whose life investment has gone under just because of his son's bad decision and extremely poor managerial skill, couldnt post profit for a single year. It's so sad. What is access bank some three years ago compared to Diamond if not for extremely poor management. Moral lesson, parents your children mustn't run your businesses if they lack experience.

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    Replies
    1. This is exactly what we were discussing in our home. Pascal Dozie's son ruined the bank. Parents should not be too quick to handover business to their children.

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    2. sorry to burst your bubbles but erhmm it was Alex Otti that destroyed that bank, he even tried a secret acquistition in 2014 through a foreign bank.

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    3. My dear he didnt try at all.

      May God not give us children that will ruin our hard work.

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    4. Otti accuses Dozie Jnr. Dozie Jnr accuses Otti. Accusations and counter accusations.

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  19. Which bank is d strongest now,so I can move my small money there.yes I know depositor funds are "safe".but it's better to b safe than sorry.GT,uba,first n zenith which is better

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  20. Family banks are never good. The family members at the top tend to destroy it and the top positions are reserved for family members. FCMB is like the last family bank standing.

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  21. Abeg,I hope my money is safe...do I go and withdraw them all? I no fit shout ooo

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    Replies
    1. Don't waste time to go and redraw all your money

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    2. Diamond bank going down too..nawah!

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  22. I hope it doesn't affect their staffs o
    my atm works there. Chai I've been thinking about this since early morning when I heard the news to think that he promised to give me money to start a biz

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    Replies
    1. See shamelesssness, calling another human being atm. It is the same way you will also be an atm to other people. Meanwhile, it is STAFF, there is nothing like staffs.

      Delete
  23. Ecobank shld be the next. Bank that will make you stranded on top your money o. Ive always thought diamond Bank is a strong bank😲 unbelievable

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  24. Diamond bank issues was worst than skyebank but they were able to manage their PR. In the next 5 years or more Banks in Nigeria will be less than 8.

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  25. Never knew diamond Bank will crumble like this, thought they were strong

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  26. Hei na my salary account oo, wetin I go do make my salary no go hang or govt chop my money o

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