Diamond Bank Logo

By Obinna Chima

The need to grow their customer base and ensure that their customers get the desired satisfaction has seen banks establish different types of products.

These products, which are also mostly targeted at the retail segment of the market, have also helped to extend banking outreach in the country.

For Diamond Bank Plc, which recently introduced the ‘Diamond Privilege,’ to cater for the affluent in the society, the product is also expected to further drive its retail banking segment.

Head, Corporate Communications, Ms. Akpo Daniyan, further explained that the product was designed to cater for the diverse needs of the wealthy segment of the population.

In addition to traditional banking services, the products also offers investment advisory services ranging from financial planning to global financial investment advisory services; wealth management. Other benefits surrounding the product include a special Visa credit card embedded with a certified diamond.

Daniyan explained: “Diamond Bank prides itself with continually seeking ways of providing quality services to all our customers in all   segments of the market and this new proposition, specially designed for our affluent customers, is just one more way to ensure that they have the very best.”

In order to ensure that the product achieves its objective, she said that the bank would collaborate with international organisations with global expertise in private banking and wealth management to ensure that customers that would subscribe to the product derives the desired satisfaction.

Daniyan listed some of the partners to include Standard Bank, London; IFM Trust, Switzerland; Black Brick, London and Bank Mirabaud, Geneva.

“Clients of this innovative proposition will also enjoy a rewards and benefits scheme that includes an annual international event. The first of these events, holding in March this year and sponsored by Diamond Bank will see Privilege clients networking with their peers and exchanging business ideas at a five star hotel in Cape Town, South Africa. 

“This is a first in the banking industry in Nigeria. Diamond Privilege is the latest addition to the rich bouquet of products currently offered by the bank,” she added

Diamond Privilege Bank
According to the financial institution, the ‘Diamond Privilege Bank’ is driven by the bank’s commitment to preserve and grow its customers’ wealth.

Diamond Bank explained that as part of its client offering, customers should expect to get an interest earning current account that pays interest on their credit balances and does not charge you any commission on turnover (COT) on your transactions.

It said that the Diamond current account comes free with no applicable charges for depositing cash (whether in large sums or small multiples) or withdrawing cash.

It added: “Our knowledge of our clients as discerning individuals with unique needs and objectives remains the core of our strength. Relationship with us at Diamond Bank begins with a conversation. We start out by seeking to understand and help our clients evaluate their goals.

“We analyse each client's financial profile, lifestyle objectives and attitude toward risk, and then develop a suitable wealth management plan through liaison with our partners. We would provide you with top notch privilege banking services, most importantly, through it all, we would offer attentive service and personal counsel and as your goals change, we adjust your wealth plan accordingly.”

It also assured that its ‘Privilege Bankers’ would work with potential clients to provide them with core banking and wealth management services delivered at a personal level and also tailored to meet the clients’ pre agreed wealth management needs.

Advisory Services
Under the ‘privilege banking,’ the bank also disclosed that it offered financial and investment advisory services ranging from personal balance sheet consolidation to portfolio realignment and asset allocation.

According to Diamond Bank, with strategic partnerships with leading international wealth managers in London and Geneva, it is well positioned to offer its customers and other potential customers the best of: “Global Investment opportunities, retirement and financial planning, property financing, wealth and tax advisory and estate planning.”

“Our international business reaches across geographical borders to provide a range of integrated banking and wealth management services. We are committed to forging a lasting relationship with you, actively engaging in the process of managing your wealth throughout your lifetime. We will work with you, your family and your business, focusing on assisting you to achieve your financial goals. We strive to deliver uncompromising service.

“As part of our annual line of exclusive events, our privilege clients would be treated to a series of events, which would include: an annual international event in an exotic international location – with a keynote inspirational or motivational speaker,” it explained further.