Access Bank Plc took over Diamond Bank in 2018 in what was said to be the largest merger in Nigeria’s banking history. By the time Access Bank took over the loans, Japaul agreed to a restructuring rolling over both the principal and interest. Opus Bank, Irvine, to merge with and into Pacific Premier Bank, Irvine Approved: 4/2/20. Its share price had also fallen to about 20 kobo per share by the end of 2019. Interestingly, in the deal, Japaul also gets to lease back the two dredgers for a period of 6 years from Access Bank for a sum of N1 billion paid annually from 2021 – 2026. U.S. Bank Recent reports shows that Access Bank is currently dealing with many problems it inherited from the merger. Log in to Diamond Bank's traditional Online Banking site and select Options > Mobile Settings > Deselect Enable web access for your mobile device> Click Submit. Welcome to Diamond Bank's Mobile Banking App! From Business: Let the U.S. Bank Diamond Bar CA Office help you bank smarter with Online Banking, Bill Pay, Checking Accounts, Savings Accounts, Bank Loans and Student Loans. Included in the oil and gas loans was a $66.4 million in loans owed to the bank by Japaul Oil and Maritime, as they were referred to at the time. In an interview in 2019 he maintained that “we recovered N2.2 billion bad debt in the year under review. Just like Japaul, the loans owed by ABC Orjiakor were also obtained from Diamond Bank. Omodele Adigun. When Access Bank merged with Diamond Bank, the latter had total loans and advances of N787.8 billion out of which N219.9 billion in loans were impaired. The Diamond Mobile App brings excitement to the world of banking. But business has been bad for years now leading the company into net accumulated losses of over N50 billion as of 2018. Diamond bank transfer code is *426#. Diamond Bank Credit Card Get the help you need, fast and simple. The more multiples … Similarly, Access Bank recently  obtained a Mareva injunction sealing the offices and taking over the assets of Seplat due to a related party loan owed by the latter’s Chairman, ABC Orjiakor. External loans had also ballooned from about N18.8 billion to about N38.8 billion. Diamond Bank and Access Bank Lead In Alternative Channels, Access/GE Healthcare Equipment Finance scheme, Access Bank Recognized as the 'Best Digital Bank In Africa' 2020, Access Bank Reiterates Commitment to Technological Innovation with Sponsorship of Nigerian Fintech Week 2020. 0700CallAccess (07002255222377), +234 1- 2712005-7, +234 1-2802500. According to sources, when Access Bank swoops in for their loan recoveries, they deploy all tactics in the books to ensure all or most parts of the loans are recovered from chronic debtors. What happens if I … Access bank is one of the leading banks in Nigeria that is known with top notch customers’ satisfaction. The process is simple and can be started on-line today. A win-win for everyone. The App offers more than just banking services. Diamond Eagle Acquisition Corp. (Nasdaq: DEAC) (“Diamond Eagle”), a publicly traded special purpose acquisition company led by Harry Sloan and Jeff Sa Access Bank currently is the largest retail Bank in Africa by customer base, 27,000 staff across 592 branches, spanning three continents, 12 countries and with 29 million customers. For the 5 years leading to 2018, the company posted back to back losses with revenues going from N5.3 billion in 2015 to about N85.8 million in 2019. For Access Bank, aggressively going after bad loans have paid off immensely. Diamond Bank Plc has been suspended from trading shares on the floor of the Nigerian Stock Exchange as court affirmed merger scheme with Access Bank Plc. In 2019 the bank recovered N38.9 billion in bad loans barely a year after taking over Diamond Bank. Access Bank will intensify effort to ensure that it recovers the debt owed to Diamond Bank. The bank took over Japaul’s trading assets and integral to the going concern status of the company. Diamond and Access Bank are set to have the largest alternative channels on the continent even as customers of both financial institutions can now use their combined total of 3,100 Automated Teller Machines (ATMs) without paying the usual N65 charge that applies after a customer’s third withdrawal from other bank’s ATM. If you need general information about Access Bank or would like to arrange an interview, please contact our press office. Access your accounts for various financial transactions and conduct business from the comfort of your phone in a secure, fast and convenient way. Mobile Banking Premium by Access Bank PLC. The loans had gone bad accumulating unpaid interest of about $11.2 million. Japaul also gave up its land in exchange for working capital of N1.5 billion from the bank. They call it “Simpler banking”. It appears Access Ban 2018 merger with Diamond Bank is not a garden of rose without a thorn like their PR agencies will make you believe. Recent reports shows that Access Bank is currently dealing with many problems it inherited from the merger. Japaul got a one-year moratorium on repayment expiring in December 2020. GTBank 3.2.0.0. Before now, Japaul made money rendering marine services, dredging, mining and construction mostly for the oil and gas companies. The deal involves Access Bank taking over two of Japaul’ s Dredgers (12& 13) for N5 billion and a Barge (Beau Geste) for N25.9 billion. Get the Diamond Mobile App for easy and convenient banking on the go. The Official Website of Access Bank Plc Nigeria. Download AccessBank app for Android. The new brand logo was unveiled to audience at the Eko Hotel & … Online Banking › Diamond Bank You can get 24/7 access to your accounts from any computer or mobile device with Online Banking. Stay Informed with what we have been up to! The Board of Diamond Bank said it believes that the merger is in the best interest of all stakeholders … Our media section contains media releases and contacts, executive speeches and downloadable images. Virus Free. In the first 9 months of 2019, a total of N24.7 billion was captured in bad debts recovered. The USSD service (*426#) is one of the Bank’s strategies to ensure financial inclusion. Below is the full list of Acces bank branches in Lagos Access Bank Branches in Lagos Access Bank Plc. Address: 34, […] Offering tailored loan options to meet your unique buying needs. In return, Japaul gets to clean up its balance sheet erasing what is left of its debt, booking a profit of about N40 billion and wiping off its negative equity of N35.5 billion. AccessBank. If you are a Text user, also click on Text Mobile Setings > Deselect Enable text access for your mobile device > Click Submit. : 01 – 2793500Telephone: +234-01-4489830, 0700-300-0000Fax: +234-1-2619728 You can also reach reach the bank: By phone: […] In exchange for repaying the N38 billion loan, Access Bank settled for a repayment of N30.9 billion. Mobile Banking Premium by Access Bank PLC. Accounting and Tax Treatment for Access Bank/Diamond Bank merger Dial the USSD code *901*11*1# (for former Diamond customers only) Download the QuickBucks App, available on Google Playstore or Apple App Store. “Diamond Bank’s was youthful, vibrant and human. Oil and gas-related loans made up a significant chunk of the loans and were estimated at about N302.6 billion, most of them distressed. Thank you for contacting us, our service representative will be available to attend to you shortly. 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