Diamond Trust Bank Group (DTB) has announced its financial results for the fiscal year ending December 31, 2024, showcasing robust performance and strategic growth across its operations in East Africa. The Group’s results reflect its resilience and commitment to delivering value to shareholders, customers, and stakeholders despite a challenging economic environment.
DTB Group’s Key Financial Highlights
Diamond Trust Bank Group delivered a strong financial performance in FY2024, with several key highlights underscoring its growth and resilience:
- Profit After Tax: The Group reported a profit after tax of KES 12.8 billion, marking a 15% year-on-year increase. This growth reflects DTB’s focus on operational efficiency and cost management, enabling it to navigate a challenging economic environment effectively.
- Total Assets: DTB’s total assets grew by 8% to KES 500 billion, showcasing its robust financial position and capacity to support regional expansion. This growth was driven by strategic investments and prudent asset management.
- Customer Deposits: Deposits increased by 10% to KES 350 billion, highlighting enhanced customer confidence and the success of DTB’s deposit mobilization strategies. The growth in deposits provided a solid foundation for the bank’s lending activities.
- Loan Book: The loan portfolio expanded by 12% to KES 300 billion, driven by increased lending to small and medium-sized enterprises (SMEs) and corporate clients. This growth aligns with DTB’s commitment to supporting economic development in the region.
- Net Interest Income: Net interest income rose by 9% to KES 25 billion, supported by the growth in the loan book and effective asset-liability management. This increase reflects DTB’s ability to generate sustainable income from its core banking activities.
DTB continued to strengthen its presence across East Africa, with operations in Kenya, Uganda, Tanzania, and Burundi contributing significantly to the Group’s profitability. The bank expanded its branch network to 150 locations, enhancing accessibility for customers in underserved regions. Additionally, DTB invested in digital transformation, launching new mobile and internet banking platforms to improve customer experience and operational efficiency.
Nasim Devji, Group CEO and Managing Director, expressed optimism about the bank’s performance, stating, “Our FY2024 results demonstrate the strength of our business model and our ability to adapt to changing market dynamics. We remain committed to driving financial inclusion and supporting economic development across the region.”
Looking ahead, DTB Group aims to further expand its regional footprint, enhance its digital capabilities, and deepen its focus on customer-centric solutions. The Group is well-positioned to navigate the evolving financial landscape and deliver sustainable growth in the years to come.
Also Read: NCBA Posts KES 21.9 Billion Profits as Digital Loans hit KES 1 Trillion
DTB Dividend Declaration:
The Board of Directors has recommended a first and final dividend of KES 7.00 per share. The dividend payment is scheduled to begin on June 27, 2025, following approval at the Annual General Meeting to be held on June 26, 2025
Post Views: 509
ADVERTISEMENT
