Diamond Bank Records N1.8 Billion Growth In Mobile Banking Revenue In Q1 2018

Diamond bank Plc had recorded a growth in its mobile banking revenue from N1.2 billion in Q1 2017 to N1.8 billion in Q1 2018.

In its Q1 2018 unaudited financial results released to the Nigerian Stock Exchange (NSE), the bank recorded increases in customer acquisition through digital channels with increases in active account ratios, as well as the proportion of customers’ transactions completed on its digital platforms.

While commenting on the results, the Chief Executive of Diamond bank Plc, Mr. Uzoma Dozie expressed optimism in the bank’s continuous growth.

“At a macro level, the year has begun with positive indicators, such as growth in GDP, declining inflation and rising crude oil prices. Thus, investor sentiment about the economy is becoming more positive as shown by the success of recent bond sales by the Federal Government. We expect these positive trends to continue and I am confident that Diamond Bank is well positioned to capitalize on these, particularly having disposed non-core assets to focus on the Nigerian opportunity”, he said.

He also disclosed that the bank has made plans to invest more in emerging businesses through an expanded loan offering and support for different activities in trade, agriculture and manufacturing.

“As emerging businesses continue to flourish, we will also continue to develop services and products to support their needs.

“The Bank will continue its drive to use technology to drive financial inclusion and convenient banking with the aid of such products as “ADA”, a 24/7 Artificial Intelligence (AI) chatbot.

“The outlook for 2018 is positive for Diamond Bank. Revenue is expected to grow; operating expense will stabilize and decisive action should result in a decline in loan impairment losses. With the economy showing signs of solid recovery, Diamond Bank has an excellent platform from which to grow and achieve long term sustainable profitability”, Uzoma said.

 

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