Diamond Bank Limited was licensed for commercial banking operations on December 30, 1990. However it started operations on March 21, 1991.

When Diamond Bank entered Nigeria banking industry in 1991, it had one mission: ' To create a unique international bank focussed on providing creative solutions to customer, business problems, and an absolute commitment to quality. The Bank's strengths are in the areas of human resources, customer service delivery, and products it evolved to fill the vacuum for a commercial bank with the ability to create and deliver superior customer value services; backed by a team of professionals poised to inject radical changes in the industry.

The Bank has over the years focused much of its resources to developing lifestyle-changing products and services, especially those with the capacity to de-emphasize the use of physical cash in economic transactions.

Diamond Bank also invests 4 per cent of its profits before tax on training its staff. The Bank has effectively linked all its branches nationwide through its Diamond Bank Integrated Banking system (DIBS), having pioneered the very small Aperture Terminal (VSAT) telecommunications system for data transfers and networking in Nigeria.

Some of their attractive products and services include:

• Diamond Bank Paycard (Electronic Purse) is a smartcard that enables its holders carry a maximum of N16 million on a plastic card with an embeded microchip.
• Diamond Bank Valucard affords the users a secure, portable and reliable alternative to cash.
• Diamond Savings Card is a product that enables the Bank's savings account holders to benefit from its on-line real-time services by giving them the flexibility to operate their accounts from any of the Bank's branches nationwide.
• Diamond Connect (PC Banking) is a unique programme that delivers remote access to the desiring customer via computers from the comfort of their own homes or offices.
• Telephone Banking Service (DIAL-ACCOUNT) is a remote access sevice that enables customers to connect to the Bank from any place via telephone and carry out basic banking transactions.
• Internet Banking enables the Bank's customers do banking business with it anywhere in the world through the web.
• Western Union Money Transfer is acclaimed the fastest and safest way to receive money worldwide.