Kenya’s Diamond Trust Bank (DTB) has posted an 11.5% rise in its Q3 net profit to Sh 5.3 billion boosted by 38% rise in total interest income to Sh25.5 Billion.
Interest income from loans to customers and government securities rose by 20.74% and 131.16% to Sh 18.39 billion and Sh 6.85 Billion respectively. During the period, DTB increased its portfolio in government paper from Sh 21.7 Billion to Sh 74 Billion. Non funded income was up by 9% to Sh 3.7 billion.
The Bank’s total interest expenses increased by 44% to Sh10.81 Billion while fees and commission on loans rose by 7% to Sh 765 Million.
Total operating expenses increased 44% to Sh10.59Billion attributed to a 172% growth in loan loss provision to Sh3.6 Billion. Total assets grew by a modest 28% to Sh313.8 Billion as loans and advances to customers jumped by 5.4% to Sh1812 Billion. Total liabilities rose by 30% to Sh 271 billion as customer deposits went up by 29.88% to Sh227 billion.