Diamond Trust Bank (DTB) Group has reported a 25% bump in profit before tax to KSh 11.27 billion, up from KSh 9 billion in 2023, despite a challenging economic environment marked by inflationary pressures and high borrowing costs.
- •DTB’s net profit for the year stood at KSh 7.6 billion, a 13% uptick from KSh 6.9 billion a year earlier, buoyed by strong interest income growth.
- •Total interest income rose to KSh 59.7 billion from KSh 53.3 billion, driven primarily by a 10% growth in income from loans and advances.
- •The lender is still grappling with a large stock of non-performing loans (NPLs), which remain high at KSh 37.8 billion, a decline from KSh 43.6 billion in 2023.
The Group’s total assets declined to KSh 574 billion from KSh 635 billion in 2023. On the other hand, liabilities also saw a downturn from KSh 549 billion in 2023 to KSh 482 billion last year. Loan loss provisions increased by nearly 10% to KSh 14.9 billion, reflecting heightened caution amid rising credit risk.
DTB’s core capital dropped to KSh 49.0 billion from KSh 51.4 billion with a core capital-to-risk-weighted assets ratio of 15.7%, while its liquidity ratio stood at 49.9%.
DTB has proposed a dividend of KSh 7.00 per share, up from KSh 6.00 in 2023.
