Diamond Bank PLC Mulls Capital Raising

Diamond Bank

Diamond Bank PLC has been reported to considering raising fresh capital and selling some assets in order to maintain its capital ratios, its chief executive said on Wednesday.

Source at Reuters quoted Diamond Bank’s CEO, Uzoma Dozie that the bank’s capital plan will ensure it meets all regulatory requirements both in the short term and in the future. Diamond Bank’s capital adequacy ratio had fallen to 15.6 percent of assets by mid-year from 18.6 percent a year ago.

“We are doing a capital management plan and that will determine how much capital we want to raise, tenor and size,” Dozie told an analysts’ conference call.

“We don’t have any need to grow our branch network any more. We are also looking at some assets that we can dispose of and we are a long way into that,” he said

 

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