Zenith Bank

BUSINESS AND ECONOMY

Saturday, 25 October 2014 05:34

Diamond Bank appoints Uzoma as CEO

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Uzoma Dozie Uzoma Dozie

The Board of Dia-mond Bank Plc, has announced the appointment of Mr. Uzoma Dozie  as Managing Director/Chief Executive following the  voluntary resignation of  Dr. Alex Otti, from the bank Friday. The appointment of Uzoma is subject to the approval of the Central Bank of Nigeria (CBN).

In an official statement released by the Bank’s Corporate Communications Department, Chairman of the Board of Directors, HRM Igwe Nnaemeka Alfred Achebe, Obi of Onitsha, announced the changes in management.

Speaking on the outgoing GMD/CEO, the chairman said he would be sorely missed, adding that Dr. Alex Otti’s achieved enviable landmarks during his time. He described his tenure as, “the brightest years of Diamond Bank’s 24 year-history”.

“Dr Alex Otti is a fine gentleman with an outstanding career in the Nigerian Banking industry. We are pleased with the time he spent at the helms of affairs of Diamond Bank Plc and wish him every success in his future endeavours,” Igwe Achebe added.

Under Dr. Alex Otti’s stewardship, Diamond Bank made a remarkable return to profitability and has continued to record  growth across all performance indicators year-on-year.

After writing off toxic risk assets which resulted in the loss of N16 billion in 2011, the Bank posted a profit before tax of N28.36 billion in 2012 and N32.5 billion Naira in 2013.

The Bank also saw its total assets rise from N564.9 billion in February 2011 to N1.18 trillion by December 31, 2012 and N1.52 trillion on December 31, 2013.

He is credited with creating the office of the Chief Risk Officer and designating an Executive Director to head the department.

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