NSE listed bank Diamond Trust Bank released its Q1 2017 results here are our initial impressions:
- Total interest income was down slightly by 0.08% to Ksh 8.184 billion in Q12017 compared to Ksh 8.192 billion in Q1 2016. Income from loans and advances was down by 11.7% to Ksh 5.475 billion. Interest income from government securities was up by 39.7% to Ksh 2.604 billion compared to Ksh 1.864 billion in Q1 2016.
- Net interest income stood at Ksh 4.612 billion in Q1 2017 vs Ksh 4.577 billion in Q1 2016
- Total Non-Interest Income was up by 8.3% in Q1 2017 to Ksh 1.278 billion compared to Ksh 1.180 billion in Q1 2016. The increase in non-interest income was boosted by an increase in fees and commissions charged on loans and advances and also an increase in forex trading income.
- Total operating expenses reduced slightly and came in at Ksh 3.283 billion in Q1 2017 vs Ksh 3.287 incurred in Q1 2016.
- The bank’s profit before tax was by 5.74% to Ksh 2.616 billion in Q1 2017 compared to Ksh 2.474 billion in Q1 2016.
- Profit After tax for the first quarter of 2017 came in at Ksh 1.750 billion representing an 8.8% increase compared to Q1 2016 Ksh 1.608 billion profit.
In the markets Diamond Trust Bank (DTB) closed Thursday’s (May 18) trading session at Ksh 135.00 per share. DTB’s share price is currently up by 14.4% year-to-date.