NAIROBI, Kenya, Aug 26 – Diamond Trust Bank (DTB) posted a Sh4.9 billion net profit in the half year ended June 2024, a 12 percent jump compared to a similar period last year.
DTB Group Chief Executive Officer and Managing Director Nasim Devji announced that subsidiaries in Tanzania, Uganda, and Burundi contributions on pretax profits improved to 35 percent from 23 percent.
“The improved performance reflects the group’s inherent resilience and diversity, drawing from its growing presence in markets outside Kenya, where we continue to optimise on existing and emerging opportunities,” Devji said.
On his part, DTB Finance & Strategy Director Alkarim Jiwa said that the Group’s total assets grew to Sh585 billion, up from Sh579 billion recorded in the review period.
Operating income also increased by 10 percent to Sh20.6 billion, while pretax profits grew to Sh6.3 billion.
“Net interest income improved to Ksh 14.2 billion, up from Ksh 13.1 billion earned in the first half of 2023, on the back of better interest margins and non-interest income revenues. The operating expenses increased to Ksh 10.6 billion, up from Ksh 9.4 billion, due to significant investments made in building robust digital platforms, expanding branch footprint and talent to support the delivery of the business growth strategy,” Jiwa said.
