(Last Updated On: March 15, 2015)
Diamond Trust Bank announced a 9.6% rise in net profit after a great performance from its regional operations. This was a net profit of Ksh5.7 billion as compared to Ksh5.2 billion.
DTB has subsidiaries in Tanzania, Uganda and Burundi. They contributed Ksh1.6 billion to the bank’s profit as compared to Ksh1.2 billion the previous year. Loan book expanded by Ksh27 billion to reach Ksh137 billion and deposits rose by Ksh32 billion to stand at Ksh160 billion. This led to a 30% rise in interest payments to Ksh7.5 billion.
Net interest income grew by 15 percent after collecting Ksh17.2 billion from interest from borrowers. Last year DTB floated a rights issue of Ksh3.6 billion so as to fund regional expansion. The bank is targeting to expand into Democratic Republic Of Congo, Madagascar and Rwanda.
Currently it has 51 branches in Kenya, 33 in Uganda, 22 in Tanzania and 4 in Burundi