Diamond Trust Bank

Diamond Trust Bank Appoints Jeremy Ngunze as non-executive Director

Diamond Trust Bank (DTK) has announced the appointment of Mr Jeremy Ngunze as the non-executive Director of the Bank with effect from 29th June 2021.

Mr Jeremy Ngunze has been a  career banker in both Africa and Asia for over 30 years and has broad experience in financial services. Previously, Jeremy Ngunze served as group executive Director for NCBA Group, and before that, he served as the Cheif Executive Officer at Commercial Bank of Africa, Kenya.

Currently, Mr Jeremy Ngunzse is the chairman of PACT Kenya and is also a board member of PACT Global and PACT UK, amongst other organisations.

Mr Ngunze holds a bachelor of Commerce Degree from the University of Nairobi and an MBA from the University of Manchester.

The Diamond Trust Bank board was pleased to welcome him to the team and congratulated him on his appointment.

“The board takes this opportunity to congratulate Mr Ngunze on his appointment as a non-executive Director of the Bank” DTK in their press release

Diamond Trust Bank Financial Results

Diamond Trust bank recorded a 51% dip in profits for the year ended 31st December 2020 to Kes 3.5 billion from Kes7.3 billion in 2019.

The bank’s total assets crossed the Kes 400 billion thresholds for the first time, rising by 10% to Kes 425 billion at the end of 2020, with customer deposits growing from Kes 280 billion to Kes 298 billion over the year.

The bank’s after-tax profits dipped by 51% to Kes 3.5 billion last year. The bank attributed the performance to the prudent approach it adopted by making stringent provisions of Kes 7.3billion against the loan book in 2020, a reflection of the elevated credit risk environment prevalent since the outbreak of the COVID-19 pandemic in March last year.

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