Disquiet In Diamond Bank Over CFO Rahman Yinusa’s Resignation As Financial Organisation Groans Under Going Out Of Proportion Loans In Biz Strategy Gone Bad!

There is an ongoing disquiet at financial institution led by Uzoma Dozie- Diamond Bank.

And this development is attributed to fidgety moves over the not so colourful outlook of the bank’s account book.

According to information made available to societynowng.com reality checks revealed, outside of the frenzy antics of in your face positioning, decision makers at the financial institution are concerned about the figures in the account books.

The loans given out are labelled growing out of proportion. Uzoma Dozie
According to an informant, the situation is such that the bank has made provisions for over N60billion loan within the last one year.

Defined a source ‘provisions are usually made for debts with extreme low chances of recovery…such that when they are eventually recoup are gladly regarded as profit’

Societynowng.com learnt the development is the fallout of a business strategy aimed securing a large percentage of the market gone bad.

‘They targeted the everyday people, small and medium business entrepreneurs…ultimately people who could not fully secure their loans and vigorously pursued them for business…they set their sight on the returns on the volume of loans given out, as well as the spread of the brand on the lips of everyday people, the consequence is what they are reaping’ a deep seated source analysed.

societynowng.com further learnt that the situation is such that the management are exploring ways to evolve a better business strategy that would help take them out of the looming financial waddle.

Another source disclosed to societynowng.com that already the bank has increased it’s activities at interbank lending window as a borrower.

And the resignation of influential figure very much privy to the account book in all of these, Abdulrahman Yinusa the Chief Financial Officer has not helped to boost the confidence of the staffers and keen investors.

Talks of abandoning the ship due to projection of an impending financial stormy within and outside the bank has continue to decorate announcement of his exit.

Societynowng.com learnt in the midst of raging concerns within the bank has not helped morale of staffers.

Sources divulged even as questions continue to arise and whispers filter accross corridors about the performances of the bank, the management led by Uzoma Dozie appears still deep in thought about how to stem the tide.