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Diamond Bank gets $70million facility to finance trade in Nigeria
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Diamond bank has succeeded in securing a $70 million (N8.1 billion) facility from Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE).
The facility will be used to enable the bank to provide loans that will be used to support the funding of trade transactions by Diamond Bank’s both oild and prospective customers, adding that a formal signing ceremony for the facility took place at the SMBC London Office on Friday April 4, 2008.
According to the Bank, the deal which closed at $70 million was oversubscribed, recording an increase of $20million from its initial launch amount of $50 million. The leap is an indication of a monumental increase in the brand equity even beyond the shores of the country.
In a related development, Diamond Bank has gone into partnership with the International Finance Corporation (IFC) to secure a facility which would aid its lending capability, specifically to small business owners. The facility, which is worth $20million (N2.3billion), is part of a $200million (N23.4billion) IFC programme that will boost lending to smaller businesses across Sub-Saharan Africa. The bank has also gone into partnership with the Shell Petroleum Development Company and GroFin of South Africa to float a $30million (N3.5billion) fund. The fund is aimed at enhancing the operations of indigenous small and medium-scale enterprises through the provision of much needed business development assistance and appropriate finance.
In the same vein, Diamond Bank plc has concluded plans on this year’s edition of the D-TAP Kiddies account summer educational trip to the United Kingdom. The 10 lucky winners will have the opportunity of going on a two-week learning holiday at the famous Cambridge Camps,
Diamond-Target Achievement Plan (D-TAP) account is aimed at helping parents save towards the future of their children. The annual educational holiday, wholly sponsored by Diamond Bank, is a reward to children whose accounts accumulate the highest points in the annual Kiddie account promotion. Parents can open a D-TAP account with just N5000.
This year’s edition, which is the third, promises to be an interesting one as the children will have the opportunity to develop themselves. According to the bank, the camp offers a wonderful and conducive learning atmosphere for children, and the Cambridge campus has an environment that is apposite for the physical and intellectual development of children. The school is safe, secure and about 4.5 kilometres from the nearest town. It has tennis courts and 6.5 hectares of playing fields. There is also a school doctor always on call.
For the two week duration, the ten lucky kids will reside in the school and enjoy 30 hours of lucid lectures in classrooms containing a maximum of 12 students.
The holiday programme will also earn them a certificate and a report card., the draw will take place in May.
The facility will be used to enable the bank to provide loans that will be used to support the funding of trade transactions by Diamond Bank’s both oild and prospective customers, adding that a formal signing ceremony for the facility took place at the SMBC London Office on Friday April 4, 2008.
According to the Bank, the deal which closed at $70 million was oversubscribed, recording an increase of $20million from its initial launch amount of $50 million. The leap is an indication of a monumental increase in the brand equity even beyond the shores of the country.
In a related development, Diamond Bank has gone into partnership with the International Finance Corporation (IFC) to secure a facility which would aid its lending capability, specifically to small business owners. The facility, which is worth $20million (N2.3billion), is part of a $200million (N23.4billion) IFC programme that will boost lending to smaller businesses across Sub-Saharan Africa. The bank has also gone into partnership with the Shell Petroleum Development Company and GroFin of South Africa to float a $30million (N3.5billion) fund. The fund is aimed at enhancing the operations of indigenous small and medium-scale enterprises through the provision of much needed business development assistance and appropriate finance.
In the same vein, Diamond Bank plc has concluded plans on this year’s edition of the D-TAP Kiddies account summer educational trip to the United Kingdom. The 10 lucky winners will have the opportunity of going on a two-week learning holiday at the famous Cambridge Camps,
Diamond-Target Achievement Plan (D-TAP) account is aimed at helping parents save towards the future of their children. The annual educational holiday, wholly sponsored by Diamond Bank, is a reward to children whose accounts accumulate the highest points in the annual Kiddie account promotion. Parents can open a D-TAP account with just N5000.
This year’s edition, which is the third, promises to be an interesting one as the children will have the opportunity to develop themselves. According to the bank, the camp offers a wonderful and conducive learning atmosphere for children, and the Cambridge campus has an environment that is apposite for the physical and intellectual development of children. The school is safe, secure and about 4.5 kilometres from the nearest town. It has tennis courts and 6.5 hectares of playing fields. There is also a school doctor always on call.
For the two week duration, the ten lucky kids will reside in the school and enjoy 30 hours of lucid lectures in classrooms containing a maximum of 12 students.
The holiday programme will also earn them a certificate and a report card., the draw will take place in May.
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