Diamond Bank to sustain market base, raises stake in customer reward
Diamond Bank Nigeria Plc has reaffirmed its resolve to sustain its marketability through creation of products that improve the standard of living of the people. The bank’s Senior Adviser on Retail Banking, Mr. Garry Marsh stated this during the bank’s Savings Xtra Season 4 Independence Draw, in Lagos, at the weekend.
He expressed the bank’s commitment towards offering variety of products that would help to empower Nigerians, especially customers of the bank. According to him, the promo, which was designed to enable its customers build stable funds for investment, especially for the Micro Small and Medium Enterprise businesses has also enhanced the bank’s portfolio and help increase its business activities.
Marsh explained that the bank has set aside more than USD4mn (NGN600mn) for the exercise, which he said is higher, when compared to the sum of NGN500mn that was given to customers in the previous years for the same promo.
He added that the impact of the promo on the lives of its customers has informed the bank’s decision to retain the exercise. “We believe in giving back to customers and we want to encourage savings in Nigeria. We also want to attract more people to join the financial sector and have access to bank accounts, which would be good for us and the country. “We have to give out NGN600mn, more than USD4mn, which is more than we have ever given before for this exercise.
Last year, we gave NGN500mn and when we started, it was from NGN200mn to NGN300mn, so we have decided to double this amount because it has really changed people’s life.” He added: “We are also giving out 15 prices every week. We are increasing the number of people who can win these prices.” Aside rewarding customers through the promo, Marsh explained further that the bank provides additional fund to the lucky winners of the promo as loan on request so that they can embark on projects such as house acquisition, furniture and fitting, among others, adding that funds can be repaid within a period of one or two years.
“We are actually being supportive on what they should do with the money. Indeed some have said, ‘could I still borrow against this’ and what we do, we would retain the money and lend additional money to them so they can buy a house or furniture as the case may be and this can be repaid within a period of one year or two as it suits them,” he stated.
This article was originally posted on Africa Banking Network
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