Type Private Founded 1945 | Industry Financial Services Parent organization Diamond Trust Bank Group | |
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Headquarters 9th floor Harbor View Towers Dar es Salaam, Tanzania Key people Abdul Samji
Chairman
Viju Cherian
Country Manager & CEO Products Loans, savings, checking, investments, debit cards, credit cards, mortgages, electronic funds transfer Total assets US$428 million (TZS: 936 billion) (2016) Revenue 4.9 million USD (Aftertax, 2016, ...) | ||
Diamond Trust Bank (Tanzania) Limited (DTBT) is a commercial bank in Tanzania, licensed by the Bank of Tanzania.
Contents
Overview
DTBT is a large financial services provider in Tanzania, with total assets valued at TZS 936 billion (approx. US$428 million) as at 31st June 2016. At that time, shareholders' equity was valued at TZS 134 billion (approx. US$61 million). The bank maintained 25 branches, 11 of which are in Dar es Salaam.
History
Diamond Trust Bank Tanzania (DTBT) was founded in 1945, as Diamond Jubilee Investment Trust (DJIT) with its head office in Dar es Salaam (Tanzania) and branches in Mombasa (Kenya) and Kampala (Uganda). Subsequently branches were also opened in Nairobi and Kisumu in Kenya. At the time, DJIT operated as a community-based finance house offering savings and extending credit to members of the Ismaili Community.
In 1965, DJIT was divided into three companies – DJIT Tanzania, DJIT Kenya and DJIT Uganda with the respective head offices in Dar es Salaam, Nairobi and Kampala. DJIT Tanzania changed its name to Diamond Trust of Tanzania (DTT) in 1990. Under the name change, the Bank extended its facilities from a community-based finance house into a non-bank financial institution, and began offering financial services to the general public.
DTT was recapitalized in 1995 through injection of funds by its shareholders. Diamond Trust Bank Kenya and the Aga Khan Fund for Economic Development (AKFED) emerged as its two principal shareholders, holding 33% and 31% shareholding respectively. In 1997, DTT was licensed as a full commercial bank and changed its name to Diamond Trust Bank Tanzania Limited (DTBT).
Diamond Trust Bank Group
DTBT is a member of the Diamond Trust Bank Group, a large financial services provider in East Africa with operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.
Ownership
Diamond Trust Bank Group is the majority shareholder, owning 65 percent of the shares in Diamond Trust Bank (Tanzania) Limited, as at March 2016.
Branch network
As of February 2016, Diamond Trust Bank (Tanzania) Limited had a network of branches in the central, eastern, northern, and western regions of Tanzania. The branch network included the following locations:
1. Arusha City - Sokoine Road, Arusha
2. Arusha Main - Moshi Road, Arusha
3. Dar CBD Branch - Diamond Plaza, Samora Avenue/Mirambo Street, Dar es Salaam
4. Dar es Salaam Main Branch - Jamat/Mosque Street, Dar es Salaam
5. Dodoma Branch - Habib Avenue, Dodoma
6. Iringa Branch - Myomboni, Iringa
7. Kahama Branch - Ngaya/Isaka Road, Shinyanga
8. Kariakoo Branch - Msimbazi Street, Dar es Salaam
9. Magomeni Branch - Off Morogoro Road, Dar es Salaam
10. Masaki Branch - Chole Road, Dar es Salaam
11. Mbagala Branch - Kilwa Road, Dar es Salaam
12. Mbeya Branch - Lupa Way Market Street, Mbeya
13. Mbezi Branch - Shamo Towers, Bagamoyo Road, Dar es Salaam
14. Mbezi Chini Branch - Capital Plaza, Mwai Kibaki Road, Dar es Salaam
15. Morocco Branch - Airtel Tanzania Headquarters, Dar es Salaam
16. Morogoro Branch - Lumumba Road, Morogoro
17. Moshi Branch - Old Moshi Road, Moshi
18. Mtwara Branch - Tanu Road, Mtwara
19. Mwanza Branch - Kenyata Road, Mwanza
20. Mwanza Main Branch - Nyerere Road, Mwanza
21. Nelson Mandela Road Branch - Versani Plaza, Dar es Salaam
22. Nyerere Road Branch - Quality Plaza, Nyerere Road, Dar es Salaam
23. Tabora Branch - Ujiji Street, Tabora
24. Tanga Branch - Taifa Road, Tanga
25. Upanga Branch - United Nations Road, Dar es Salaam
26. Zanzibar Branch - Stone Town Forodhani Area, Zanzibar