Nigeria's Diamond Bank has increased its half-year gross earnings by 82%.

The bank's financial results for the half-year ended 31 October 2008 shows that gross earnings for the period was N45.9 billion (US$390 million), up from N25.3 billion ($214 million) in the same period last year.

Unaudited results showed that profit before taxation stood at N12.2 billion ($103 million) for the period, 69% higher than N7.2 billion ($61 million) in the first six moths of last year.

According to the bank's board of directors the performance will be improved upon in the second half of the financial year – not taking into account any unforeseen circumstances.

Emeka Onwuka, group managing director and chief executive officer said Diamond continued its focus on maintaining a strong balance sheet and a prudent lending strategy.

He added that Nigeria's banking sector has a good growth outlook in spite of worsening global conditions.