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Diamond bank plans to merge with Oceanic

by Business News Report

Diamond Plc has signified its interest to bid for one of the rescued bank
The Bank said today, Monday it had registered interest with the central bank to merge with Oceanic Bank , paving way for it to recapitalise.
Diamond Chief financial officer Abdulrahman Yinusa said this option would speed its route to expanding its footprint in the country.
“Talks are very preliminary, we have registered our interested and we are doing due diligence,” Yinusa said. He said Diamond was one of three firms that had indicated interest to acquire the troubled lender.

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