It was nearing bankruptcy and something had to give. 0700CallAccess (07002255222377), +234 1- 2712005-7, +234 1-2802500. If you are a Text user, also click on Text Mobile Setings > Deselect Enable text access for your mobile device > Click Submit. Access Bank currently is the largest retail Bank in Africa by customer base, 27,000 staff across 592 branches, spanning three continents, 12 countries and with 29 million customers. Acquisition of Control. When Access Bank merged with Diamond Bank, the latter had total loans and advances of N787.8 billion out of which N219.9 billion in loans were impaired. Experience the Diamond Bank Difference. Included in the oil and gas loans was a $66.4 million in loans owed to the bank by Japaul Oil and Maritime, as they were referred to at the time. Commercial Bank Activity Merger. For the 5 years leading to 2018, the company posted back to back losses with revenues going from N5.3 billion in 2015 to about N85.8 million in 2019. By the time Access Bank took over the loans, Japaul agreed to a restructuring rolling over both the principal and interest. Thank you for contacting us, our service representative will be available to attend to you shortly. They began a court battle with Access Bank over the loans and the threat of a liquidation eventually settling for a deal. You can open a DiamondXtra account with a minimum of N5,000 and increase your balance with a minimum of N5,000 every month. In 2019 the bank recovered N38.9 billion in bad loans barely a year after taking over Diamond Bank. With the Diamond bank online banking app customers of the bank can perform banking operations that they would normally perform in the banking hall right from their mobile phone all that’s required is a mobile internet and the diamond bank mobile app. In exchange for repaying the N38 billion loan, Access Bank settled for a repayment of N30.9 billion. Francis P. Kavanaugh, to acquire control of Friendly Hills Bank Filed: 4/24/20. 140. Unlike Diamond Bank, Access Bank is ready to battle in the courts and is ready to deploy any legal means necessary to recover their loans even if their actions are viewed as uncanny. Access Bank and Diamond Bank Plc have obtained approval in principle from the Central Bank of Nigeria and the Securities and Exchange Commission on their proposed merger plans. Eventually, Access Bank and Japaul agreed to settle the matter outside the court. Download Diamond Bank for Windows 10 for Windows to diamondBank app provides Branch and ATM locations nearest you and information about Diamond Bank products and services. For Access Bank, aggressively going after bad loans have paid off immensely. When Access Bank merged with Diamond Bank, the latter had total loans and advances of N787.8 billion out of which N219.9 billion in loans were impaired. The new brand logo was unveiled to audience at the Eko Hotel & … They call it “Simpler banking”. Start enjoying these benefits today: -View Account Balances -View Transactions -Transfer Funds between accounts -Pay Bills -Locate a Diamond Bank branch or ATM To access DB … Copyright © 2020 IdomaVoice, managed by NetDivo. However, in one fell swoop. According to sources, when Access Bank swoops in for their loan recoveries, they deploy all tactics in the books to ensure all or most parts of the loans are recovered from chronic debtors. It appears Access Ban 2018 merger with Diamond Bank is not a garden of rose without a thorn like their PR agencies will make you believe. What is Diamond Bank Transfer Code? Its share price had also fallen to about 20 kobo per share by the end of 2019. access more Customer Support. Oil and gas-related loans made up a significant chunk of the loans and were estimated at about N302.6 billion, most of them distressed. . Before now, Japaul made money rendering marine services, dredging, mining and construction mostly for the oil and gas companies. Our media section contains media releases and contacts, executive speeches and downloadable images. Diamond bank has been successfully merged with access bank, however, your usual relationship manager, whether at the former Diamond Bank or Access Bank, will be delighted to help if you want to discuss anything. Diamond and Access Bank are set to have the largest alternative channels on the continent even as customers of both financial institutions can now use their combined total of 3,100 Automated Teller Machines (ATMs) without paying the usual N65 charge that applies after a customer’s third withdrawal from other bank’s ATM. This diamond transfer code is the bank’s mobile banking, where you can complete all transactions via USSD code. Diamond Bank and Access Bank Lead In Alternative Channels, Access/GE Healthcare Equipment Finance scheme, Access Bank Recognized as the 'Best Digital Bank In Africa' 2020, Access Bank Reiterates Commitment to Technological Innovation with Sponsorship of Nigerian Fintech Week 2020. It also features lifestyle solutions which make banking an exciting experience. A win-win for everyone. Upon takeover in 2019, Herbert Wigwe, the CEO of Access Bank announced that his bank was going to go after Diamond Bank debtors. “Diamond Bank’s was youthful, vibrant and human. If you need general information about Access Bank or would like to arrange an interview, please contact our press office. Diamond Bank Plc has been suspended from trading shares on the floor of the Nigerian Stock Exchange as court affirmed merger scheme with Access Bank Plc. U.S. Bank The Board of Diamond Bank Plc has said that it expects to conclude the transaction of its proposed merger with Access Bank Plc in the first half of 2019. History was made in Lagos, Nigeria, yesterday as Diamond Bank finally fused with Access Bank to create a colossal financial powerhouse.. Offering tailored loan options to meet your unique buying needs. Click here to get enrolled today! The second way require the use of mobile app. Recent reports shows that Access Bank is currently dealing with many problems it inherited from the merger. The App offers more than just banking services. Oil and gas-related loans made up a significant chunk of the loans and were estimated at about N302.6 billion, most of them distressed. ... Diamond 3.3.0.0. Sources inform Nairametrics that Access Bank is one of the most aggressive banks in the business when it comes to playing dirty with debtors. External loans had also ballooned from about N18.8 billion to about N38.8 billion. Access your accounts for various financial transactions and conduct business from the comfort of your phone in a secure, fast and convenient way. 426 Simpler Banking is one of the two ways you can access your diamond bank account on mobile phone. The federal government of Nigeria has extended the linking of National Identification Number (NIN)... Benue State Governor, Samuel Ortom, on Tuesday, met with Permanent Secretaries-designate at Benue Peoples... No fewer than seven persons have been Wednesday apprehended by the Benue State Internal... IDOMA VOICE earlier reported that Prof Jude Rabo of the Federal University of Agriculture,... (adsbygoogle = window.adsbygoogle || []).push({}); IdomaVoice is the No 1 voice of the Idoma people for idoma news and benue news in general. From negative equity of N35.5 billion, the company’s net assets are now N4.69 billion. New customers - Dial *901*5# to open a DiamondXtra account now or visit any Access Bank branch. We are not exactly sure what Access Bank plans to do with dredgers and barges it took over from Japaul. "The proposed merger would involve Access Bank acquiring the entire issued share capital of Diamond Bank in exchange for a combination of cash and shares in Access Bank via a Scheme of Merger. It is a strategy that is working and there is no betting against Access Bank doubling down on aggressive recovery this year. Home        Media        News        Diamond Bank and Access Bank Lead In Alternative Channels. Diamond bank mobile code is easy to use, fast and secure. Access Bank will intensify effort to ensure that it recovers the debt owed to Diamond Bank. The USSD service (*426#) is one of the Bank’s strategies to ensure financial inclusion. Access bank is one of the leading banks in Nigeria that is known with top notch customers’ satisfaction. In 2019, Access Bank swooped on Japaul Plc seeking repayment of their Diamond Bank loans which was now about N37 billion. 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