Diamond Bank expends N5b in ‘DiamondXtra product’ in nine years

Poised to consistently promote saving culture in Nigeria, Diamond Bank Plc has expended a total of N5billion in form of rewards for 11,000 customers in its Diamond Xtra product in the last nine years.

For the Season 10 of the promo, a total of 4,957 customers will be rewarded with N433.2million at the end of the draw.Speaking at first quarterly draw for Season 10, in Lagos, last week, the Head, Consumer Bank, Mrs Kari Tukur, said the bank is passionate about the benefits of financial inclusion to customers. She explained that the promo is designed to bring the unbanked into the banking system, and encourage them to save and plan for the future, and sustain the economy.

She added that 1,016 winners emerged with a car, one million to six winners and N100 education allowance for five years.“We are passionate about rewarding our customers and giving them the financial power to contribute meaningfully to the growth of Nigeria’s economy. The draws scheduled for this season reaffirms Diamond Bank’s commitment to financially empower more Nigerians.”

According to the Head, Mass market Segment, Osita Ede, Diamond Bank has recorded significant increase in deposit through the initiative in the last few years.“The reason for the promo is more of the impact on customers, impacting lives, touching lives, ensuring that we add value to their lives.

“Another reason is to increase the savings culture in Nigeria. So far, we notice more people are saving, we notice more people opening accounts even for their kids, which have not been the tradition over the years, and we are seeing a lot of these.

Ede explained that the reward scheme is integrated into the DiamondXtra proposition, so every customer on the account has equal opportunity of winning through a transparent electronic draws.

To qualify for the monthly draw, he explained that a customer is to maintain a minimum monthly balance of N5,000, while additional deposits will count as multiple entries as well as increase the customer’s chances of winning.He assured customers that the bank would constantly seek robust platforms and initiative such as this to reward their loyalty.

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