Diamond Bank expends ₦5 billion on promo in 10-years

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Diamond Bank’s Managing Director/Chief Executive Officer Uzoma Dozie

In furtherance of its policy of encouraging savings culture and rewarding its customers, Diamond Bank Plc has said it expended a whopping ₦5 billion on its DiamondXtra savings account promo in 10 years.

The bank also said that within the period, 20,000 customers benefitted from the promo and that 4,927 customers are going to benefit from the season 10 of the promo.

Speaking yesterday at the unveiling ceremony of DiamondXtra Season 10 in Lagos, the bank’s Chief Executive Officer, Mr. Uzoma Dozie, explained that part of the focus of the promo is to instill savings culture in Nigerians and so far, that has been happening. “We have noticed that more people are saving; we noticed people open accounts, which was not the tradition before. Over the years, we have seen a whole lot of things in the right direction.”

He said the DiamondXtra Savings Account does not serve only as savings account but also gives the customer hope that he or she might win something while saving.

Dozie added that the last 10 years have been very exciting and that the bank has also added more solutions to the promo as more people will be winning more in the Season 10.

For his part, Osita Ede, Head, Mass Market, Diamond Bank, said the bank would be giving out a total of ₦433 million to its customers in Season 10, stating that it added education grant, health extra and house advance to the promo.

Explaining the new solutions, he said, “the education grant is for five years and anyone who wins this gets ₦100,000 every month for five years to take care of his or her education.”

Ede said when someone wins the house advance, the person gets outright ₦1 million and this cuts across all regions, adding that the health extra is underwritten by Hygeia. “The way it works is that with just a discounted amount of ₦6,000 a year, anybody that wins it gets full quality healthcare services for that year.”

According to him, with a deposit balance of only ₦5,000, a customer is qualified to participate in the draw and multiples of that amount increases the customer’s chances of winning.

The DiamondXtra initiative was launched in July 2008 and the Season 10 edition promises to be more rewarding as the bank reaffirmed its commitment to financially empower more Nigerians by spreading the draws across the six geopolitical zones.