Diamond Trust Bank(DTB) Kenya posted a 10.2% increase in net profit to KSh 4.358 Billion at the end of the six-month period ended 30th June 2023 compared to KSh 3.956 Billion in HY 2022.
Customer deposits at DTB increased by 20.6% to KSh 417.9 Billion in HY 2023 while the loan book grew by 20.4% to KSh 281.2 Billion during the period under review.
DTB made a total interest income, from loans as well as investment in Government Paper of KSh 24.9 Billion, a 32.4% growth, while non-interest income was up 42.2% to KSh 5.5 Billion in HY 2023,
The lender increased its loan loss provisions by 34% to KSh 3.3 Billion in HY 2023 from KSh 2.4 Billion at the end of the first six months of last year.
DTB’s Balance Sheet Size grew to KSh 579.2 Billion in HY 2023, an increase of 19.4% while Earnings per Share was up 11.6% to KSh 14.31.
DTB Group has a presence in Burundi, Kenya, Tanzania, and Uganda with its headquarters on Mombasa Road-Nairobi. The Group has subsidiaries, namely Diamond Trust Bank Tanzania Limited, Diamond Trust Bank Uganda Limited, Diamond Trust Bank Burundi SA, Diamond Trust Insurance Agency Limited, Premier Savings and Finance Limited, and Network Insurance Agency Limited.
Diamond Trust began the year with a share price of KSh 50.00 but has since shed off 2% of that price valuation, ranking it 32nd on the NSE in terms of year-to-date performance.
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