Diamond Trust Bank is seeking Chief Executive Officer for its Kenyan business after current CEO Nasim Devji was reassigned.
- Nasim Devji has spearheaded DTB for over 20 years and holds the dual position of Group Chief Executive Officer as well as Chief Executive Officer for DTB Kenya.
- Going forward, she will dedicate more time and focus on building and broadening the bank’s franchise across East Africa.
- The bank’s reoganisation will take effect upon the appointment of the country CEO, subject to regulatory approvals.
“In this context DTB Kenya intends to recruit a country CEO who will report to Devji along with the current country CEOs for DTB Burundi, DTB Tanzania and DTB Uganda,” said Stephen Kodumbe, Company Secretary Diamond Trust Bank Kenya.
Diamond Trust Bank Group after-tax profit for the financial year ended December 2023 grew by 14.7 per cent to KSh 7.8 billion. There was a notable surge in both non-funded income and net interest income, which increased by 34.3 per cent and 20.5 per cent year-on-year respectively.
The bank witnessed a considerable surge in loan loss provisions, amounting to KSh 10.3 billion, leading to a slight decrease in the cost of risk to 3.3 per cent. Despite this, gross non-performing loans increased by 35.4 per cent year-on-year, resulting in an NPL ratio of 12.4 per cent.
On the balance sheet side, customer loans and advances increased by 21.6 per cent, while investment securities rose by 7.1 per cent. Customer deposits also saw an uptick of 25.4 per cent.
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