NAIROBI, Kenya, Sept 22 – Diamond Trust Bank Kenya (DTK) has accepted an offer from a consortium of investors to acquire its 83.67 percent stake in DTB Burundi.
The deal, which includes DTB Burundi’s minority shareholder, is subject to regulatory approvals from the Central Bank of Kenya, the Bank of the Republic of Burundi, and other regulators.
The sale marks DTB’s exit from Burundi, 16 years after entering the market in 2009. The lender said it will now focus on its core markets of Kenya, Uganda, and Tanzania.
DTB Burundi has grown into one of the top ten banks in the country, operating four branches in Bujumbura and other regions.
DTB has issued a cautionary statement to shareholders and the investing public, warning them to exercise caution when trading its shares on the Nairobi Securities Exchange pending completion of the transaction.
