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Diamond Bank Denies Acquisition Tale

Diamond Bank Plc. has denied the story making the rounds that the bank is in talks with Access Bank Plc. over a possible merger and acquisition. The bank said it is not in talks with any financial institution about merger and acquisition.

Diamond Bank in a statement by its Secretary/Legal Adviser, Uzoma Uja, said, “We wish to state categorically that the bank is not in discussions with any financial institution at the moment on any form of merger or acquisition.”

On the other hand, Access Bank through his Secretary, Sunday Ekwochi stated that; “We wish to notify the Nigerian Stock Exchange and the general public that the bank has not entered into any such discussions with Diamond Bank or any other institution.”

“As a publicly quoted company built on best practice, the bank is fully cognisant of its disclosure obligations in respect of any such corporate action and will always discharge its obligations in the most professional manner.”

“Consequently, any statement regarding any such corporate action that is not issued by the bank should be disregarded.”

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