NIGERIA’S DIAMOND BANK DOWNGRADING TO A NATIONAL BANK
Nigeria’s tier-2 bank, Diamond Bank Plc, has been granted approval to operate as a national bank from its previous international outlook. With this approval, the bank will cease to operate as an International Bank. As a prelude to this, in 2017, it has disposed its West African Subsidiary and is currently in the final stages of the sale of its United Kingdom subsidiary. The bank will now operate locally (only in Nigeria) with less capital base. Uzoma Dozie, Diamond Bank’s…