February 21, 2019
Business Top Stories

Diamond Bank Chief writes customers, says no cause for panic

The embattled Chief Executive Officer of Diamond Bank, Uzoma Dozie has written customers of the bank, urging them not to panic over ongoing merger with Access Bank. His letter came amidst sense of anxiety still persisting among bank clients and stakeholders.

“I am contacting you with regards to some exciting and important developments in relation to Diamond Bank.

“You may have seen the announcement that we have received initial regulatory consent to pursue merger discussions with Access Bank. We intend to complete the transaction in the first half of 2019 once further regulatory and shareholders approvals have been obtained.

“If concluded, the transaction will create Nigeria and Africa’s largest retail bank by customers, spanning three continents, 12 countries and 29 million clients.

“This is a hugely exciting opportunity and a positive development for all of Diamond Bank stakeholders, starting with you and our millions of other valued customers.

“In particular, customers will benefit significantly through the unrivalled combination of the best of Diamond Bank’s retail and digital leadership with the size of Access Bank’s balance sheet, corporate names and geographical reach.

“In addition, Diamond Bank’s operations are complementary to Access Bank’s, we share a similar culture and we both have a customer-centric ethos.

“Importantly there will be no immediate changes and you do not have to do anything differently. Whilst there may be some changes once the merger concludes, we will communicate with you as clearly and transparently as possible in advance of these.

“Rest assured that throughout this process, both Diamond Bank and Access Bank will maintain our fundamental commitment to our customers – this will never change.

“In summary, this is a hugely exciting time for both institutions and most importantly, our customers. The merger presents an opportunity to create something transformational in both Nigerian and African banking and we want you to be part of the journey.

“I look forward to updating you further in due course”, the embattled CEO concluded.

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