Mr. Alex Otti
Nigerian Diamond Bank Plc has announced their plan to acquire a European Bank that will help them complement their services to the banking population. The Chief Executive officer, Alex Otti stated they are now putting finishing touches to the deal. When completed, this will attract direct investment from European country into Nigeria. Reuters news agency quoted the Managing Director and chief Executive Officer of the Bank during investors' conference. However, the name of the European Bank was not specified. Mr Alex Otti did not hide his excitement that Central Bank of Nigeria has given Diamond bank approval in principle and noted that the Bank would not raise money from the capital market. ''We are not looking at buying a high street bank. It is going to be a specialized bank that will complement our services''. Continuing, he pointed out ''We have a lot of business inflow in that direction(Europe) and we use third party to do those. We strongly believe that when we are successful, it will add value to our bank'' According to Diamond Bank Chief Executive, the bank is to make 18% return on equity in 2012 and a pre-tax profit of N30 billion compared to a loss of N16.26 billion encountered last year.
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