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Published On: Sun, Sep 7th, 2014

Diamond Bank diverts N200bn to revamp CBN’s policy on improved MSME

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diamond_bank_logo_2012From Ngozi Onyeakusi, Lagos

Diamond Bank of Nigeria Plc. said it has spent about N20 billion out of the N200 billion mapped out for the establishment of Micro, Small and Medium Enterprises, MSME across the country.

This was in line with the banks commitment towards complementing the effort of the Central Bank of Nigeria, CBN’s policy guideline on improved MSME, as well as federal government’s recent launching of SMSE for improved economic recovery in the country.

The banks Regional Manager for Awka, Anambra State, Mr. Ikenna Nwabuwa who disclosed this, stated that the bank was committed in assisting operators of micro, small and medium scale enterpreneuers in establishing businesses that are profit-oriented.

According to him, the management was impressed so far with the progress of most of the enterpreneuers which the bank had assisted financially and materially, adding that other investors who are interested in establishing or expanding their businesses frontiers should open Diamond Business Xpress Account, DBXA to access the funds.

Diamond Bank in the half year ended 30th June, 2014, posted N13.8 billion profit after tax, a nine per cent increase over its figure of last year.

In the same period, the bank grew total income of N14.1 billion, representing 19 per cent surge over N11.9 billion in 2013.

A development, which according to the bank, demonstrated its ability to grow profit and maintain its business targets.

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