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DIAMOND BANK PLC

UNAUDITED CONSOLIDATED AND SEPERATE FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED 30 JUNE 2016

Directors, officers and professional advisors Directors Dr. Chris Ogbechie Mr. Uzoma Dozie Mrs. Caroline Anyanwu Mr. Oladele Akinyemi Mr. Ian Greenstreet Chief John D. Edozien Dr. Olubola A. Hassan Mr. Kabir Alkali Mohammed Ms Genevieve Sangudi Mr. Sunil Kaul Mr Damian Dolland

Chairman Group Managing Director/Chief Executive Officer Deputy Managing Director Executive Director Independent Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director

Company Secretary Nkechi Nwosu Corporate Head Office Diamond Bank Plc PGD's Place, Plot 4, Block V, BIS Way Oniru Estate, Victoria Island, Lagos. Telephone: +234 1 2701500 +234 1 2620740-9 Email: [email protected] Website: www.diamondbank.com

Independent Auditors KPMG Professional Services KPMG Tower, Bishop Aboyade Cole Street, Victoria Island, Lagos Telephone: +234 271 8955 Website: www.ng.kpmg.com

Registrars Centurion Registrars Limited 33c Cameron Road Ikoyi Lagos. Telephone: +234 704 535 5922

Company Secretary/Legal Adviser

Diamond Bank Plc and subsidiary companies condensed unaudited consolidated interim financial statements for the period ended 30 June 2016

DIAMOND BANK PLC STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES As At 30th June 2016 1.

Reporting entity Diamond Bank Plc (the "Bank") was incorporated in Nigeria as a private limited liability company on 20 March 1990. In February 2005, following a highly successful private placement share offer which substantially raised the Bank's equity base, Diamond Bank became a public limited liability company. The address of its corporate office is PGD's Place, Plot 4, Block V,BIS Way, Oniru Estate, Lekki, Lagos. The principal activity of the Bank is the provision of banking and other financial services to corporate and individual customers. Diamond Bank provides a full range of financial services including investment, commercial and retail banking, securities dealing and custodian services. Diamond Bank Nigeria Plc operates through subsidiaries, including Diamond Pension Fund Custodians, Diamond Bank du Benin SA, Diamond Bank Cote D’voire, Diamond Bank Senegal and Diamond Bank Togo, and Diamond Bank UK Limited. In addition, Diamond Bank Nigeria Plc incorporated two structured entities, Stitching Diamond Finance and Diamond Finance BV, for the purpose of facilitating foreign currency borrowing arrangements. The unaudited consolidated and separate financial statements of the Bank for the period ended 30 June 2016 were authorised for issue on 21 July 2016 by the Board of Directors.

2.

Summary of significant accounting policies

2.1

Introduction to summary of significant accounting policies The principal accounting policies which have been adopted in the preparation of these consolidated and separate financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

2.2

Basis of preparation

a.

Statement of compliance These financial statements are the separate and consolidated financial statements of the Bank, and its subsidiaries (together, "the Group").The Group’s consolidated financial statements for the period ended 30 June 2016 have been prepared in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board ("IASB"). The financial statements comply with the Company and Allied Matters Act, Bank and Other Financial Institution Act, Financial Reporting Council of Nigeria Act, and relevant Central Bank of Nigeria circulars.

b.

Functional and presentation currency These consolidated and separate financial statements are presented in Naira,