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. In an interview in 2019 he maintained that “we recovered N2.2 billion bad debt in the year under review. 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. In the first 9 months of 2019, a total of N24.7 billion was captured in bad debts recovered. Download AccessBank app for Android. It is available 24 hours of everyday including public holidays and weekends. Experience the Diamond Bank Difference. Interestingly, in the deal, Japaul also gets to lease back the two dredgers for a period of 6 years from Access Bank for a sum of N1 billion paid annually from 2021 – 2026. 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. The more multiples … Its share price had also fallen to about 20 kobo per share by the end of 2019. But business has been bad for years now leading the company into net accumulated losses of over N50 billion as of 2018. 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. Go to the Access Mobile App and select Loans & Investments; Access Bank Internet Banking and WhatsApp Banking channels Japaul got a one-year moratorium on repayment expiring in December 2020. 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. Access Bank will intensify effort to ensure that it recovers the debt owed to Diamond Bank. So in a layman’s language, you are “selling” your Diamond Bank shares worth N6.09 for N21.9 and using N14.9 of that proceed to buy 2 shares of Access Bank and keep the remaining N7.00. Get the Diamond Mobile App for easy and convenient banking on the go. Upon takeover in 2019, Herbert Wigwe, the CEO of Access Bank announced that his bank was going to go after Diamond Bank debtors. In 2019 the bank recovered N38.9 billion in bad loans barely a year after taking over Diamond Bank. In return, Japaul gets to clean up its balance sheet erasing what is left of its debt, booking a profit of about N40 billion and wiping off its negative equity of N35.5 billion. Access Bank is gunning for debtors who took loans from the merger Diamond Bank running into billions of Naira that has now gone bad. The bank took over Japaul’s trading assets and integral to the going concern status of the company. 426 Simpler Banking is one of the two ways you can access your diamond bank account on mobile phone. 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. Commercial Bank Activity Merger. Click here to get enrolled today! Diamond Eagle Acquisition Corp. (Nasdaq: DEAC) (“Diamond Eagle”), a publicly traded special purpose acquisition company led by Harry Sloan and Jeff Sa Address: 34, […] We will go out for Diamond Bank’ debtors and if they are not ready to redeem their debt we will publish their names in the newspapers.”. "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. The Official Website of Access Bank Plc Nigeria. 0700CallAccess (07002255222377), +234 1- 2712005-7, +234 1-2802500. Accounting and Tax Treatment for Access Bank/Diamond Bank merger Diamond Bank makes banking more convenient than ever with DB Mobile . Mobile Banking Premium by Access Bank PLC. Diamond Bank Credit Card Get the help you need, fast and simple. Home        Media        News        Diamond Bank and Access Bank Lead In Alternative Channels. 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 … What happens if I … 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. 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. 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. From Business: Let the U.S. Bank Diamond Bar CA Office help you bank smarter with Online Banking, Bill Pay, Checking Accounts, Savings Accounts, Bank Loans and Student Loans. For Access Bank, aggressively going after bad loans have paid off immensely. The deal involves Access Bank taking over two of Japaul’ s Dredgers (12& 13) for N5 billion and a Barge (Beau Geste) for N25.9 billion. If you need general information about Access Bank or would like to arrange an interview, please contact our press office. Offering tailored loan options to meet your unique buying needs. It is a strategy that is working and there is no betting against Access Bank doubling down on aggressive recovery this year. “Diamond Bank expects the … “Diamond Bank’s was youthful, vibrant and human. The bank has several branches across the country and Lagos State has the highest number of branches. Recent reports shows that Access Bank is currently dealing with many problems it inherited from the merger. This means that Diamond Bank shareholders would receive a consideration of N3.13 per share, comprising N1 per share in cash and the allotment of two New Access Bank … 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. In exchange for repaying the N38 billion loan, Access Bank settled for a repayment of N30.9 billion. Eventually, Access Bank and Japaul agreed to settle the matter outside the court. 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. Copyright © 2020 IdomaVoice, managed by NetDivo. Our media section contains media releases and contacts, executive speeches and downloadable images. 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. 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. External loans had also ballooned from about N18.8 billion to about N38.8 billion. Check out our Diamond Bank Credit Cards for both personal and business accounts. The App offers more than just banking services. : 01 – 2793500Telephone: +234-01-4489830, 0700-300-0000Fax: +234-1-2619728 You can also reach reach the bank: By phone: […] Before now, Japaul made money rendering marine services, dredging, mining and construction mostly for the oil and gas companies. Stay Informed with what we have been up to! 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. The second way require the use of mobile app. Benefits of Diamond Bank … 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. It is safe and secure and allows you the convenience of managing your accounts anytime, anywhere. The USSD Code for Access Bank Plc is *901# this is the same as diamond bank transfer code; this code is also called access bank transfer code and transfer code for access bank because most people use it to transfer money/funds, the code is also called access bank recharge code by those who want to use it to recharge their phones and those of their family and friends, some call it access bank … GTBank 3.2.0.0. From negative equity of N35.5 billion, the company’s net assets are now N4.69 billion. Contact our customer centre for any help on: +234 1- 2712005-7, +234 1-2802500, 07003000000, 01-2273007 (for Mobile Pin Activation) Or send us email at: contactcenter@accessbankplc.com Following the completion of its merger with Diamond Bank, Access Bank Plc on Sunday night launched a new brand logo. access more Customer Support. Omodele Adigun. 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. Access Bank’ s was trusted, global and fast. 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. The loans had gone bad accumulating unpaid interest of about $11.2 million. A mobile banking application for managing user accounts. Below is the full list of Acces bank branches in Lagos Access Bank Branches in Lagos Access Bank Plc. 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. Diamond bank transfer code is *426#. Access Bank is gunning for debtors who took loans from the merger Diamond However, in one fell swoop. U.S. Bank Why we froze accounts of End SARS protesters –Access Bank, CBN releases guideline on how youths can access N75bn investment fund, Electrocution: Jaja dies while trying to dismantle Christmas tree, Prof Jude Rabo: Profile of the newly-appointed VC of Federal University Wukari, EFCC arrests 11 suspected internet fraudsters in Osogbo, recoverS exotic cars (Photos), Kaduna govt sack 65 teachers for failing test, illegal recruitment, Biafra: How Nigerian soldiers resigned to join Kanu’s Eastern Network – Military sources reveals. Japaul also gave up its land in exchange for working capital of N1.5 billion from the bank. Just like Japaul, the loans owed by ABC Orjiakor were also obtained from Diamond Bank. AccessBank. They began a court battle with Access Bank over the loans and the threat of a liquidation eventually settling for a deal. Virus Free. You can open a DiamondXtra account with a minimum of N5,000 and increase your balance with a minimum of N5,000 every month. Recent reports shows that Access Bank is currently dealing with many problems it inherited from the merger. . This diamond transfer code is the bank’s mobile banking, where you can complete all transactions via USSD code. Access bank is one of the leading banks in Nigeria that is known with top notch customers’ satisfaction. Access your accounts for various financial transactions and conduct business from the comfort of your phone in a secure, fast and convenient way. ... Diamond 3.3.0.0. The process is simple and can be started on-line today. It was nearing bankruptcy and something had to give. Log in to Diamond Bank's traditional Online Banking site and select Options > Mobile Settings > Deselect Enable web access for your mobile device> Click Submit. Welcome to Diamond Bank's Mobile Banking App! Mobile Banking Premium by Access Bank PLC. The USSD service (*426#) is one of the Bank’s strategies to ensure financial inclusion. Similarly, Access Bank recently  obtained a Mareva injunction sealing the offices and taking over the assets of Seplat due to a related party loan owed by the latter’s Chairman, ABC Orjiakor. If you are a Text user, also click on Text Mobile Setings > Deselect Enable text access for your mobile device > Click Submit. Dial the USSD code *901*11*1# (for former Diamond customers only) Download the QuickBucks App, available on Google Playstore or Apple App Store. Opus Bank, Irvine, to merge with and into Pacific Premier Bank, Irvine Approved: 4/2/20. 140. Access Bank Plc took over Diamond Bank in 2018 in what was said to be the largest merger in Nigeria’s banking history. Acquisition of Control. The Diamond Mobile App brings excitement to the world of banking. New customers - Dial *901*5# to open a DiamondXtra account now or visit any Access Bank branch. 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. Diamond bank mobile code is easy to use, fast and secure. 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. In 2019, Access Bank swooped on Japaul Plc seeking repayment of their Diamond Bank loans which was now about N37 billion. We are not exactly sure what Access Bank plans to do with dredgers and barges it took over from Japaul. The new brand logo was unveiled to audience at the Eko Hotel & … What is Diamond Bank Transfer Code? The management of Diamond Bank on Monday announced its merger with Access Bank. History was made in Lagos, Nigeria, yesterday as Diamond Bank finally fused with Access Bank to create a colossal financial powerhouse.. The Board of Diamond Bank said it believes that the merger is in the best interest of all stakeholders … Online Banking › Diamond Bank You can get 24/7 access to your accounts from any computer or mobile device with Online Banking. Ade Bajomo becomes President of FinTechNGR explains Technology and Innovation will drive Nigeria’s Banking Sector... Access Bank Reiterates Commitment to Service Excellence, Access Bank becomes first Sustainability Certified African Commercial Bank. A win-win for everyone. Francis P. Kavanaugh, to acquire control of Friendly Hills Bank Filed: 4/24/20. 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