By Modupe Gbadeyanka
One of the lenders in the country, Diamond Bank Plc, has suffered a decline in deposits from its customers despite introducing various services to swell its base.
In the financial statements released to the Nigerian Stock Exchange (NSE) on Friday, the financial institution’s customer deposit base deflated by about 1.8 percent from N1.43 trillion to N1.4 trillion in the first half of the year, probably due to loss of confidence customers have in services rendered by the bank.
However, the Diamond Bank, during the period under review, grew its profit after tax to N9.3 billion from N9.1 billion 12 months ago.
Similarly, the net interest income rose to N61.7 billion in the period ended June 30, 2017 from N50 billion in the corresponding period of 2016, while the profit before tax closed at N10.8 billion in the period under review against N10.5 billion 12 months ago.
Total assets of Diamond Bank stood at N2.07 trillion as at June 30, 2017, compared with N2.05 trillion it was 12 months ago.
