Description of this paper

Loading

Diamond Bank Plc and Subsidiary Companies Annual Report for the-(Answered)

Description


Question

Hello. Please I need urgent financial performance evaluation of a company. I have attached the details of the company. Kindly provide a theoretical explanation of any ratio analysis. Thank you.?


Diamond Bank Plc and Subsidiary Companies

 

Annual Report

 

for the Year Ended 31 December 2015

 


 

Table of contents

 

Directors, officers and professional advisors

 

Directors' report

 

Corporate governance report

 

Statement of directors' responsibilities

 

Report of the statutory audit committee

 

Independent auditor?s report

 

Consolidated and separate financial statements:

 

Consolidated and separate statement of financial position

 

Consolidated and separate statement of comprehensive income

 

Consolidated and separate statement of changes in equity

 

Consolidated and separate statement of cash flows

 

Notes to the consolidated and separate financial statements:

 

Reporting entity

 

Summary of significant accounting policies

 

Financial risk management

 

Critical accounting judgements in applying the Bank?s accounting policies

 

Operating segments

 

Seasonality of operations

 

Classification of financial assets and financial liabilities

 

Notes to the consolidated statement of comprehensive income

 

and the consolidated statement of financial position

 

Leasing

 

Contingencies

 

Related parties

 

Events after the end of the reporting period

 

Other financial information

 

Value added statement

 

Five year financial summary

 


 

Page

 

1

 

2

 

9

 

20

 

21

 

22

 

24

 

25

 

26

 

28

 

30

 

30

 

44

 

95

 

97

 

102

 

103

 

107

 

133

 

133

 

133

 

138

 

140

 

141

 


 

Diamond Bank Plc and Subsidiary Companies

 

Annual report

 

31 December 2015

 


 

Directors, officers and professional advisors

 

Directors

 

Dr. Chris Ogbechie *

 

Mr. Uzoma Dozie

 

Mrs. Caroline Anyanwu

 

Mr. Oladele Akinyemi

 

Mr. Victor Ezenwoko

 

Mr. Abdulrahman Yinusa*******

 

Mr. Ian Greenstreet

 

Mrs. Ifueko Omoigui Okauru**

 

Chief John D. Edozien

 

Dr. Olubola A. Hassan

 

Mr. Thomas Barry***

 

Mr. Allan Christopher Michael Low

 

Mr. Kabir Alkali Mohammed

 

Ms Genevieve Sangudi******

 

Mr. Sunil Kaul ****

 

Mr Damian Dolland*****

 

*

 

**

 

***

 

****

 

*****

 

******

 

*******

 


 

Chairman

 

Group Managing Director/Chief Executive Officer

 

Deputy Managing Director

 

Executive Director

 

Executive Director

 

Executive Director

 

Independent Director

 

Independent Director

 

Non-executive Director

 

Non-executive Director

 

Non-executive Director

 

Non-executive Director

 

Non-executive Director

 

Non-executive Director

 

Non-executive Director

 

Non-executive Director

 


 

Appointed as Chairman with effect from 1 January 2015

 

Resigned from the Board with effect from October 18, 2015.

 

Resigned as a Non-executive Director with effect from March 2015

 

Appointed as a Non-executive Director on June 30, 2015

 

Appointed as a Non-executive Director on November 24, 2015

 

Appointed as a Non-executive Director on June 30, 2015

 

Resigned as a Director with effect from August 3, 2015

 


 

Company Secretary

 

Nkechi Nwosu

 


 

Company Secretary/Legal Adviser

 


 

Corporate Head Office

 

Diamond Bank Plc

 

PGD's Place, Plot 4, Block V, BIS Way

 

Oniru Estate, Victoria Island, Lagos.

 

Telephone: +234 1 2701500

 

+234 1 2620740-9

 

Email: info@diamondbank.com

 

Website: www.diamondbank.com

 

Independent Auditors

 

KPMG Professional Services

 

KPMG Tower, Bishop Aboyade Cole Street,

 

Victoria Island, Lagos

 

Telephone: +234 271 8955

 

Website: www.ng.kpmg.com

 


 

Registrars

 

Centurion Registrars Limited

 

33c Cameron Road

 

Ikoyi

 

Lagos.

 

Telephone: +234 704 535 5922

 


 

1

 


 

Diamond Bank Plc and Subsidiary Companies

 

Annual Report

 

31 December 2015

 


 

Directors? Report

 

For the year ended 31 December 2015

 


 

The Directors present their report on the affairs of Diamond Bank PLC ("the Bank") and its subsidiaries ("the Group"), together with the financial

 

statements and auditors' report for the year ended 31 December 2015.

 

a Legal form

 

Diamond Bank was incorporated on December 20, 1990, and opened for business in March, 1991 as a Private Limited Liability Company. In

 

February 2001, the Bank became a universal bank. In January 2005, following a successful Private Placement and an Initial Public Offer (IPO),

 

the Bank became a Public Limited Company and was subsequently listed on the Nigerian Stock Exchange in May 2005. In October 2005, the

 

Bank acquired former Lion Bank of Nigeria Plc. The Bank was also listed on the Professional Securities Market of the London Stock Exchange in

 

2007, following a successful US$500 million GDR offering. In 2013, following the Central Bank of Nigeria?s regulation repeal of the universal

 

banking model, Diamond Bank converted its license to an international commercial banking license.

 


 

b Principal activity and business review

 

The principal activity of the Group continues to be the provision of banking and other financial services to corporate and individual customers.

 

Such services include granting of loans and advances, corporate finance and money market activities.

 

The Bank currently has three operating subsidiaries: Diamond Bank S.A (97.07%), Diamond Pension Fund Custodian Limited (100%) and

 

Diamond Bank UK PLC (100%). The Bank?s consolidated financial statements include the results of the operating subsidiaries.

 

The indirectly wholly owned subsidiaries (via Diamond Bank SA) are Diamond Bank Togo, Diamond Bank Senegal and Diamond Bank Cote

 

d?ivoire. These are consolidated with the results of Diamond Bank SA and the consolidated group is consequently consolidated with the Bank.

 

Diamond Finance B.V. was incorporated on 26 February 2014 as a Structured Entity in the Netherlands for the purpose of providing subordinated

 

foreign currency loans to Diamond Bank Plc by issuing Loan Participatory Notes to interested investors. The financial results of all the

 

subsidiaries have also been consolidated in these financial statements.

 

c

 


 

Operating results

 

Gross earnings of the Group increased by N8.69billion and profit before tax decreased by N21.008billion.

 

Highlights of the Group?s operating results for the period under review are as follows:

 


 

For the year ended 31 December

 

In thousands of naira

 

Gross earnings

 

Profit before income tax

 

Minimum tax

 

Income tax expense

 

Profit for the year

 

Non-controlling interest

 


 

Group

 

2015

 


 

Group

 

2014

 

208,402,153

 


 

196,867,016

 


 

190,952,742

 


 

7,092,731

 


 

28,101,232

 


 

5,171,592

 


 

24,413,014

 


 

(1,286,639)

 

(149,469)

 

5,656,623

 

(41,033)

 


 

Profit attributable to owners of the Bank

 


 

5,615,590

 

2,244,104

 


 

Non-controlling interest

 


 

Bank

 

2014

 


 

217,091,803

 


 

Other Comprehensive Income, net of tax

 

Total comprehensive income, attributable to owners of the Bank

 


 

Bank

 

2015

 


 

(5,590)

 


 

(2,616,013)

 

25,485,219

 

(76,523)

 

25,408,696

 

(217,802)

 

11,999

 


 

(1,286,639)

 

(51,204)

 

3,833,749

 

-

 


 

(2,355,816)

 

22,057,198

 

-

 


 

3,833,749

 


 

22,057,198

 


 

897,907

 


 

396,695

 


 

-

 


 

-

 


 

7,854,104

 


 

25,202,893

 


 

4,731,656

 


 

22,453,893

 


 

Basic earnings per share (kobo)

 


 

24

 


 

166

 


 

17

 


 

144

 


 

Diluted earnings per share (kobo)

 


 

23

 


 

143

 


 

16

 


 

125

 


 

214,609,455

 


 

209,024,767

 


 

208,076,384

 


 

205,660,767

 


 

Total equity

 


 

2

 


 

Diamond Bank Plc and Subsidiary Companies

 

Annual Report

 

31 December 2015

 


 

d Directors and their interests

 

The direct and indirect interests of directors in the issued share capital of the Bank as recorded in the register of directors shareholding and/or as

 

notified by the directors for the purposes of sections 275 and 276 of the Companies and Allied Matters Act and the listing requirements of the

 

Nigerian Stock Exchange is noted:

 

Direct Shareholding

 

Number of 50k

 

Number of 50k

 

ordinary shares

 

ordinary shares

 

held

 

held

 


 

Mr. Chris Ogbechie (Chairman) *

 

Mr. Uzoma Dozie (Managing Director)

 

Mrs. Caroline Anyanwu (Deputy Managing Director/CRO)

 

Mr. Oladele Akinyemi (Executive)

 

Mr. Victor Ezenwoko (Executive)

 

Mr. Abdulrahman Yinusa (Executive)*******

 

Dr. Olubola Adekunle Hassan

 

Mr. Christopher Low

 

Chief John D. Edozien

 

Mr. lan Greenstreet

 

Mr. Thomas Barry **

 

Mrs. Ifueko Omoigui Okauru***

 

Mr. Kabir Alkali Mohammed

 

Ms Genevieve Sangudi ****

 

Mr Sunil Kaul *****

 

Mr Damian Dolland ******

 

*

 

**

 

***

 

****

 

*****

 

******

 

*******

 


 

Indirect Shareholding

 

Number of 50k

 

Number of 50k ordinary shares

 

ordinary shares held

 

held

 


 

Dec-15

 


 

Dec-14

 


 

Dec-15

 


 

Dec-14

 


 

15,047,124

 

21,489,005

 

4,080,000

 

13,605,268

 

11,270,650

 

932,850

 

13,783,520

 

5,437,120

 

-

 


 

15,047,124

 

21,489,005

 

4,080,000

 

13,605,268

 

11,270,650

 

20,000,000

 

4,932,850

 

13,783,520

 

5,437,120

 

-

 


 

848,872,310

 

2,141,349,189

 

227,700

 

227,700

 


 

848,872,310

 

2,141,349,189

 

227,700

 

227,700

 


 

4,110,118,107

 


 

3,282,956,337

 


 

-

 


 

-

 


 

Appointed as Chairman with effect from 1 January 2015

 

Resigned as a Non-executive Director with effect from March 2015

 

Resigned as a Non-executive Director with effect from October 18, 2015.

 

Appointed as a Non-executive Director on June 30, 2015.

 

Appointed as a Non-executive Director on June 30, 2015.

 

Appointed as a Non-executive Director on November 24, 2015.

 

Resigned as a Director with effect from August 3, 2015

 


 

e Directors? interest in contracts

 

For the purpose of section 277 (1) and (3) of the Companies and Allied Matters Act of Nigeria, none of the directors had direct or indirect

 

interests in contracts with the Bank during the year, except:

 


 

Name of Company

 


 

Services to the Bank

 


 

Director

 


 

Elpina Associates Limited

 


 

Supply and Maintenance

 


 

Chief John D. Edozien

 


 

Director

 


 

Mercedes Benz Automobile

 

Services Limited

 


 

Supply and Maintenance

 


 

Dr. Olubola A. Hassan

 


 

Director

 


 

Eye Foundation

 


 

Medical Services

 


 

Related Director

 


 

Interest in entity

 


 

Uzoma Dozie

 


 

f Property and equipment

 

Information relating to changes in property and equipment is provided in Note 29 to the financial statements.

 


 

3

 


 

Diamond Bank Plc and Subsidiary Companies

 

Annual Report

 

31 December 2015

 


 

g (i) Shareholding analysis

 

The shareholding pattern of the Bank as at 31 December 2015 is as stated below:

 

31 December 2015

 


 

Share Range

 

1 - 10,000

 

10,001 - 50,000

 

50,001 - 100,000

 

100,001 - 500,000

 

500,001 - 1,000,000

 

1,000,001- 5,000,000

 

5,000,001 - 10,000,000

 

10,000,001 - 50,000,000

 

50,000,001 - 100,000,000

 

100,000,001 ? 500,000,000

 

500,000,001 - 1,000,000,000

 

1000,000,001 - 10,000,000,000

 

TOTAL

 


 

No. of

 

Shareholders

 


 

Percentage (%)

 

of Shareholders

 


 

No. of Holdings

 


 

Percentage

 

Holdings

 


 

91,329

 

15,956

 

4,505

 

3,033

 

315

 

319

 

56

 

69

 

15

 

28

 

6

 

3

 


 

78.98

 

13.80

 

3.90

 

2.62

 

0.27

 

0.28

 

0.05

 

0.06

 

0.01

 

0.02

 

0.01

 

0.00

 


 

194,050,856

 

313,925,295

 

289,961,942

 

569,961,290

 

219,598,136

 

640,362,460

 

411,611,641

 

1,586,888,327

 

1,106,738,123

 

6,374,537,514

 

4,229,331,143

 

7,223,422,241

 


 

0.84

 

1.36

 

1.25

 

2.46

 

0.95

 

2.76

 

1.78

 

6.85

 

4.78

 

27.52

 

18.26

 

31.19

 


 

115,634

 


 

100.00

 


 

23,160,388,968

 


 

100.00

 


 

31 December 2014

 


 

Share Range

 

1 - 10,000

 

10,001 - 50,000

 

50,001 - 100,000

 

100,001 - 500,000

 

500,001 - 1,000,000

 

1,000,001- 5,000,000

 

5,000,001 - 10,000,000

 

10,000,001 - 50,000,000

 

50,000,001 - 100,000,000

 

100,000,001 ? 500,000,000

 

500,000,001 - 1,000,000,000

 

1000,000,001 - 10,000,000,000

 

TOTAL

 


 

No. of

 

Shareholders

 


 

Percentage (%)

 

of Shareholders

 


 

No. of Holdings

 


 

Percentage

 

Holdings

 


 

91,420

 

16,121

 

4,545

 

3,050

 

324

 

314

 

63

 

77

 

19

 

28

 

6

 

3

 


 

78.83

 

13.90

 

3.92

 

2.63

 

0.28

 

0.27

 

0.05

 

0.07

 

0.02

 

0.02

 

0.01

 

0.00

 


 

194,961,479

 

316,782,221

 

292,308,201

 

573,411,242

 

226,722,755

 

635,847,060

 

465,460,722

 

1,827,549,087

 

1,387,618,245

 

6,193,759,067

 

4,429,421,224

 

6,616,547,665

 


 

0.84

 

1.37

 

1.26

 

2.48

 

0.98

 

2.75

 

2.01

 

7.89

 

5.99

 

26.74

 

19.12

 

28.57

 


 

115,970

 


 

100.00

 


 

23,160,388,968

 


 

100.00

 


 

4

 


 

Diamond Bank Plc and Subsidiary Companies

 

Annual Report

 

31 December 2015

 


 

(ii) Share Capital History

 


 

YEAR

 


 

AUTHORISED SHARE

 

INCREASE

 

CUMULATIVE

 


 

ISSUED SHARE CAPITAL

 

CUMULATIVE CONSIDERATION

 

INCREASE

 


 

1991

 


 

25,000,000

 


 

25,000,000

 


 

25,000,000

 


 

25,000,000 Cash

 


 

1992

 


 

25,000,000

 


 

50,000,000

 


 

25,000,000

 


 

50,000,000 Cash

 


 

1993

 


 

50,000,000

 


 

100,000,000

 


 

1994

 


 

100,000,000

 


 

200,000,000

 


 

45,000,000

 


 

1995

 


 

200,000,000

 


 

19,000,000

 


 

95,000,000 Bonus issue of N20million and cash deposit of

 

N25million per share

 

114,000,000 Bonus issue of N19million

 


 

1996

 


 

200,000,000

 


 

38,000,000

 


 

152,000,000 Bonus issue of N38million

 


 

1,000,000,000

 


 

412,300,000

 


 

564,300,000 Bonus issue of N412.3million

 


 

1998

 


 

1,000,000,000

 


 

156,750,000

 


 

721,050,000 Rights issue of N156.75million

 


 

1999

 


 

1,000,000,000

 


 

721,050,000

 


 

2000

 


 

1,000,000,000

 


 

721,050,000

 


 

2001

 


 

1,000,000,000

 


 

1997

 


 

2002

 


 

800,000,000

 


 

1,000,000,000

 


 

2,000,000,000

 


 

50,000,000

 


 

721,050,000

 

360,525,000

 


 

1,081,575,000 Bonus issue of N360.52million

 


 

2003

 


 

2,000,000,000

 


 

2004

 


 

2,000,000,000

 


 

458,230,033

 


 

3,500,000,000

 


 

513,268,327

 


 

3,500,000,000

 


 

3,159,809

 


 

3,500,000,000

 


 

981,373,342

 


 

3,037,606,511 Private placement proceed of N12.3billion

 


 

5,000,000,000

 


 

420,000,000

 


 

3,457,606,511 Share exchange between Diamond Bank and Lion

 

Bank

 


 

2004

 


 

1,500,000,000

 


 

2004

 

2005

 

2005

 


 

1,500,000,000

 


 

2,053,073,360 Bonus issue of N513.26 million

 

2,056,233,169 Rights issue of N3.1million

 


 

5,000,000,000

 


 

344,197,564

 


 

3,801,804,075 IPO proceed of N4.6billion

 


 

7,000,000,000

 


 

898,152,632

 


 

4,699,956,707 Private placement proceed of N17.06billion (Actis

 

Holding Limited)

 


 

7,000,000,000

 


 

1,879,699,250

 


 

6,579,655,957 GDR proceeds of N59.05 billion

 


 

3,000,000,000

 


 

10,000,000,000

 


 

657,965,596

 


 

7,237,621,553 Bonus issue of N657.96 million

 


 

2007

 

2008

 


 

1,539,805,033 Rights issue of N458.23million

 


 

2,000,000,000

 


 

2005

 

2006

 


 

1,081,575,000

 


 

2009

 


 

10,000,000,000

 


 

7,237,621,553

 


 

2010

 


 

10,000,000,000

 


 

7,237,621,553

 


 

2011

 


 

10,000,000,000

 


 

7,237,621,553

 


 

2012

 


 

10,000,000,000

 


 

7,237,621,553

 


 

2013

 


 

5,000,000,000

 


 

15,000,000,000

 


 

2014

 


 

15,000,000,000

 


 

2015

 


 

15,000,000,000

 


 

7,237,621,553

 

4,342,572,932

 


 

11,580,194,485 Rights issue of N50.4billion

 

11,580,194,485

 


 

h Substantial interest in shares

 

According to the register of members as at 31 December 2015, no shareholder held more than 5% of the issued share capital of the Bank except

 

the following:

 

31 December 2015

 

31 December 2014

 

Number of

 

Percentage of

 

Number of

 

Percentage of

 

shares held

 

Shareholding

 

shares held

 

Shareholding

 

Shareholders

 

%

 

CSSAF DBN Holdings

 

Actis DB Holdings Limited*

 

Stanbic Nominees Nigeria Limited**

 

Kunoch DB Limited

 

Diamond Partners Limited

 


 

4,110,118,107

 

3,985,349,934

 

2,141,349,189

 

1,411,694,266

 


 

17.75

 

0.00

 

17.21

 

9.25

 

6.10

 


 

%

 

3,282,956,337

 

2,141,349,189

 

4,769,966,080

 

1,150,193,405

 


 

14.17

 

9.25

 

20.60

 

4.97

 


 

*Actis DB Holding Limited is a structured entity incorporated by Actis Capital to hold shares in the Bank. In August 2014, ownership of the entity

 

was transferred to Kunoch DB Holdings Limited

 

**Exclusive of Actis DB?s GDR holding of 165,413,400 units.

 


 

5

 


 

Diamond Bank Plc and Subsidiary Companies

 

Annual Report

 

31 December 2015

 


 

i Charitable contributions

 

The Bank made contributions to charitable and non-political organizations amounting to N387 million (December 2014: N882million) during the

 

year. The schedule of charitable donations is shown below:

 

Donation

 

In thousands of naira

 

Financial Market Growth/Development Efforts

 

Sponsorship Construction Of 60 Seater Amphitheater Classroom at LBS

 

Sports and Cultural Development

 

Education and Youth Development

 

Sponsorship production of Those Who Inspire Nigeria

 

Sponsorship of BET5 Pitch In 60 Seconds

 

Women Empowerment Initiatives

 

Sponsorship of Global Enterpreneurship Week

 

Donation to National Youth Service Corps

 

Donation to Ekiti State World Teacher's Day 2015

 

Sponsorship of 2015 Gidi Culture Festival

 

Sponsorship The Vision of The Child

 

Sponsorship Seed Capital for 5Top Breed Entrepreneurs iro BET4

 

Donation of Computers to Tai Solarin University

 

Sponsorship of Lagos Social Media Week

 

Sponsorship 2015 World Economic Forum CNBC Africa

 

Donation to Lagos State Security Trust Fund

 

Project Contributions on IFC Agrifinance Technical Assistance

 

Entepreneural Development

 

Donation to Nigerian Police Force

 

Sponsorship of 2015 "The Nigeria Cup" Golf Tournament

 

Sponsorship 2015 Africa CEO Rountable

 

Sponsorship 2nd edition of Nig Stock Exchange Corporate Challenge

 

Sponsorship 2015 Card & E-Payment Expo Africa Exhibition

 

Sponsorship Nigerian National Finals and World Amateaur Golf Championshp

 

Sponsorship 9th Annual Business Conference of The N.B.A.

 

Sponsorship 14th Institute of Directors of Nigeria Presidential Award

 

Sponsorship Financial Reporting Council 12th Annual Summit And Dinner

 

Sponsorship 14th Women In Mgt,Biz & Public Service(WIMBIZ) Annual Conference

 

Public health and welfare

 

Sponsorship of 2015 DOAMF Charity Golf Tournament

 

Sponsorship of Theatrical Production Of Hear Word

 

Others

 

Sponsorship of 44th International Swimming Competition

 

Sponsorship Swimming Pool Construction at Regent School

 

Contribution to DOAM Foundation Health Is Wealth Program

 


 

Amount

 

27,650

 

25,000

 

24,575

 

23,776

 

20,610

 

20,000

 

19,398

 

16,000

 

15,263

 

15,000

 

15,000

 

15,000

 

15,000

 

13,125

 

12,500

 

10,000

 

10,000

 

8,738

 

7,946

 

7,925

 

7,500

 

7,000

 

7,000

 

6,000

 

5,000

 

5,000

 

5,000

 

5,000

 

5,000

 

3,370

 

2,000

 

2,000

 

1,365

 

1,000

 

1,000

 

1,000

 

386,741

 


 

j Human resources

 

Employment of disabled persons

 

The Bank operates a non-discriminatory policy on recruitment. Applications by disabled persons are always fully considered, bearing in mind the

 

respective aptitudes and abilities of the applicants concerned. In the event of members of staff becoming disabled, every effort is made to ensure

 

that their employment with the Bank continues and that appropriate training is provided. It is the policy of the Bank that the training, career

 

development and promotion of disabled persons should as far as possible, be identical with those of other employees.

 

The Bank has two disabled persons in its employment as at 31 December 2015 (December 2014: 3).

 

Analysis of women employed during the year

 

31 December 2015

 

DESCRIPTION

 


 

NUMBER

 


 

Female new hire

 

Male new hire

 

Total new hire

 


 

82

 

83

 

165

 


 

% TO TOTAL

 

STAFF

 

49.7

 

50.3

 

100

 


 

Total staff

 


 

4,245

 


 

Female as at December 2015

 


 

1,777

 


 

41.9

 


 

Male as at December 2015

 


 

2,468

 

4,245

 


 

58.1

 

100

 


 

% TO TOTAL

 

NEW HIRE

 

40.5

 

59.5

 

100

 


 

6

 


 

Diamond Bank Plc and Subsidiary Companies

 

Annual Report

 

31 December 2015

 


 

31 December 2014

 

% TO TOTAL

 

STAFF

 


 

% TO TOTAL

 

NEW HIRE

 


 

DESCRIPTION

 


 

NUMBER

 


 

Female new hire

 


 

373

 


 

8.2

 


 

40.5

 


 

Male new hire

 

Total new hire

 


 

548

 

921

 


 

12.0

 

20.2

 


 

59.5

 

100

 


 

Total staff

 


 

4,568

 


 

Female as at December 2014

 


 

1,903

 


 

41.7

 


 

Male as at December 2014

 


 

2,665

 

4,568

 


 

58.3

 

100

 


 

FEMALE

 


 

MALE

 


 

TOTAL

 


 

General Manager

 


 

4

 


 

5

 


 

9

 


 

Deputy General Manager

 


 

2

 


 

2

 


 

4

 


 

Assistant General Manager

 

Total

 


 

5

 

11

 


 

22

 

29

 


 

27

 

40

 


 

27.50

 


 

72.50

 


 

100

 


 

FEMALE

 


 

MALE

 


 

TOTAL

 


 

General Manager

 


 

1

 


 

4

 


 

5

 


 

Deputy General Manager

 


 

4

 


 

5

 


 

9

 


 

Assistant General Manager

 

Total

 


 

3

 

8

 


 

22

 

31

 


 

25

 

39

 


 

20.51

 


 

79.49

 


 

100

 


 

Analysis of top management positions by gender as at 31 December 2015

 

GRADE

 


 

Percentage

 


 

Analysis of top management positions by gender as at 31 December 2014

 

GRADE

 


 

Percentage

 

Analysis of executive and non executive positions by gender as at 31 December 2015

 


 

FEMALE

 


 

MALE

 


 

TOTAL

 


 

Executive Director

 


 

0

 


 

2

 


 

2

 


 

Managing Director

 


 

0

 


 

1

 


 

1

 


 

Deputy Managing Director

 


 

1

 


 

0

 


 

1

 


 

Non Executive Director

 


 

1

 


 

8

 


 

9

 


 

TOTAL

 


 

2

 


 

11

 


 

13

 


 

15.38

 


 

84.62

 


 

100

 


 

GRADE

 


 

Percentage

 


 

Analysis of executive and non executive positions by gender as at 31 December 2014

 

FEMALE

 


 

MALE

 


 

TOTAL

 


 

Executive Director

 


 

0

 


 

3

 


 

3

 


 

Managing Director

 


 

0

 


 

1

 


 

1

 


 

Deputy Managing Director

 


 

1

 


 

0

 


 

1

 


 

Non Executive Director

 

TOTAL

 


 

1

 

2

 


 

7

 

11

 


 

8

 

13

 


 

15.38

 


 

84.62

 


 

100

 


 

GRADE

 


 

Percentage

 

k

 


 

Health, safety and welfare at work

 

The Bank?s employees are adequately insured against occupational hazards. In addition, medical facilities to specified limits are provided to

 

employees and their immediate families at the Bank's expense

 


 

l

 


 

Employee involvement and training

 

The Bank places considerable value on the involvement of its employees and has continued its practice of keeping them informed on matters

 

affecting them as employees and the various factors affecting the performance of the Bank. This is achieved through regular meetings between

 

management and staff.

 

The Bank has in-house facilities for staff training supplemented by facilities of local and foreign educational institutions.

 


 

7

 


 

Diamond Bank Plc and Subsidiary Companies

 

Annual Report

 

31 December 2015

 


 

CORPORATE GOVERNANCE

 

Introduction

 

Diamond Bank Plc was conceived with the vision of creating a ?strong financial services institution with effective presence in Nigeria, Africa and indeed

 

all the key financial centers of the world.? We are pleased to state that over the years, as our vision has been fulfilled we have not lost sight of our core

 

values of integrity, excellence, customer and stakeholder satisfaction.

 

Diamond Bank is managed in compliance with relevant Laws, Regulations, Codes of Corporate Governance and International Best Practices. Compliance

 

is the joint responsibility of the Board, Management and the entire staff of the Bank, and there is an established system of controls to ensure strict

 

adherence to these principles.

 

The Board

 

The primary mission of the Board is to effectively represent and promote the interest of shareholders and relevant stakeholders, by adding value to the

 

Company?s performance. To achieve this and other objectives, we have brought together these highly accomplished individuals who make up the Board of

 

Directors of Diamond Bank Plc.

 

Dr. Chris Ike Ogbechie- Chairman

 

Chris Ogbechie has a First Class Honours degree in Mechanical Engineering from Manchester University and an MBA from Manchester Business School.

 

Chris obtained a PhD from the Brunel University, Middlesex, England. He has wide experience in marketing and strategy derived from his work as Group

 

Head Marketing at Ecobank Trans International, Lome, Togo; Head of marketing/sales at Nestle Nigeria, Xerox and from his consulting work with

 

Nigerian firms over the years. While in Nestle he had wide international exposure in Malaysia, Singapore and Switzerland. He has been involved with

 

several start-ups and is on the Board of several companies.

 

He is a faculty member of the Lagos Business School (Pan Atlantic University), where he teaches Strategy and Corporate Governance. He is a visiting

 

Professor of Marketing and Strategy at the Strathmore Business School, Nairobi, Kenya. He has written scholarly articles and books on Corporate

 

Governance, Board Effectiveness, Strategy and Leadership in a Turbulent Environment and Sustainability amongst others.

 

Dr. Ogbechie sits on the Board of the Society for Corporate Governance Nigeria amongst other Companies and Not-for-Profit organisations. He is a fellow

 

of the Nigerian Institute of Marketing and the Advertising Practitioners Council of Nigeria, member of the American Academy of Management,

 

International Corporate Governance Network and the Strategic Management Association.

 


 

Mr. Uzoma Dozie - Group Managing Director/Chief Executive Officer

 

Uzoma Dozie graduated in 1991 with a Bachelor of Science degree in Chemistry from the University of Reading, Berkshire England. He obtained a Master

 

of Science degree in Chemical Research from University College, University of London in 1992 and an MBA with specialisation in Finance, from Imperial

 

College Management School, London in 1998. He also attended the Program for Management Development at the Harvard Business School, Boston,

 

Massachusetts, USA. Mr. Dozie started his banking career in the Commercial Banking Unit at Guaranty Trust Bank Plc where he worked for some years

 

and later moved to Citizens International Bank Limited where he worked in the Oil and Gas Division. Thereafter, he joined Diamond Bank Limited as

 

Manager and Head of the Bank's Oil and Gas Unit. He was at a time Head, Financial Control, then Retail Banking (where he spear-headed the introduction

 

of lifestyle-changing retail products in the Bank). He equally headed two distinctive strategic business units in the Bank before his appointment as an

 

Executive Director in 2005, during which time he supervised the Retail Banking and Corporate Banking Divisions of the Bank. He at a time, acted as the

 

Bank?s Chief Financial Officer.

 

Mr. Dozie was the Executive Director in charge of Lagos Businesses between 2011 and 2013 until his appointment as a Deputy Managing Director in April

 

2013 and charged with the responsibility to oversee the Retail Banking Directorate of the Bank. He has attended various specialist and executive

 

development courses in Nigeria and overseas. Following the resignation of the immediate past Group Managing Director from the Board, Uzoma Dozie, a

 

man who believes in using cutting edge technology to deliver services to customers, and improve the efficiency of how the enterprise functioned, was

 

unanimously appointed by the Board as the Group Managing Director/Chief Executive Officer of the Bank effective from November 1, 2014. His

 

appointment was approved by the Central Bank of Nigeria in January 2015.

 


 

Mrs. Caroline Anyanwu-Deputy Managing Director/Chief Risk Officer

 

Caroline Anyanwu was the Head, Risk Management & Contro

 

Paper#9210609 | Written in 27-Jul-2016

Price : $19
SiteLock